What interest rate does the NS&I Guaranteed Growth Bonds - 1 Year pay?

The NS&I Guaranteed Growth Bonds - 1 Year pays 4.99% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £499 at 4.99% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £500 and up to £1,000,000.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

When is interest paid?

Interest is paid at the end of the term.

Who can open this account?

New and existing NS&I customers can open it. You can open it online.

Is my money protected?

Yes. NS&I is backed by HM Treasury, so every penny is guaranteed. It isn't part of the FSCS, so the £120,000 FSCS limit doesn't apply.

How does it compare with other one-year fixed rate bonds?

At 4.99% AER it ranks 11th of 70 one-year fixed rate bonds we track. The best pays 5.12% and the average is 4.49%.

Dashboard

Fixed Rate

NS&I Guaranteed Growth Bonds - 1 Year Review

One of the best-paying one-year fixed rate bonds, from NS&I. It ranks 11th of 70 one-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

4.99%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

100% backedby HM Treasury

Min balance

£500

Max balance

£1,000,000

Access

At maturity only

Interest paid

On maturity

How It Stacks Up

Ranks 11th of 70

1-year fixed bonds we track

Among the best

This account 4.99%

UK CPI (Aug 2026): 3.10%; Pays 1.89% more
Average 1-year fixed: 4.49%; Pays 0.50% more
Best 1-year fixed: 5.12%; Pays 0.13% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

Pros and cons

Pro: New and existing savers
Con: Your money is locked in for 1 year

Please verify all details with the provider – see our Disclaimer

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Estimated returns with NS&I's Fixed Rate

What you could earn with NS&I's Guaranteed Growth Bonds - 1 Year.

Estimated interest

£1,000 saved

£49.90

At 4.99% AER

£5,000 saved

£250

At 4.99% AER

£10,000 saved

£499

At 4.99% AER

£1,000,000 saved

£49,900

At 4.99% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on NS&I Guaranteed Growth Bonds - 1 Year

Jonny PeaseCo-Founder, DepositScout

NS&I's Guaranteed Growth Bonds pay 4.99% fixed for one year, which sits near the market average and 0.36% behind the best fixed-rate deal available at 5.35%. The real draw here is NS&I's government backing rather than the rate itself, so this suits savers who prioritise security over squeezing out every basis point. You can deposit up to £1,000,000 and the rate beats CPI inflation by 1.89%, but the money is locked until maturity with no access at all.

Compare Fixed Rate Bonds

2 alternatives to NS&I's Guaranteed Growth Bonds - 1 Year3 alternatives to NS&I's Guaranteed Growth Bonds - 1 Year

Same type of account, closest on rate.

Common questions about the Guaranteed Growth Bonds - 1 Year

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