What interest rate does the NS&I Guaranteed Growth Bonds - 5 Year pay?

The NS&I Guaranteed Growth Bonds - 5 Year pays 5.17% AER, fixed for 5 years.

How much interest could I earn?

Saving £10,000 for 5 years would earn about £2,866 at 5.17% 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 five-year fixed rate bonds?

At 5.17% AER it ranks 10th of 39 five-year fixed rate bonds we track. The best pays 5.35% and the average is 4.77%.

Dashboard

Fixed Rate

NS&I Guaranteed Growth Bonds - 5 Year Review

A competitive five-year fixed rate bond from NS&I. It ranks 10th of 39 five-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 5 years

5.17%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 10th of 39

5-year fixed bonds we track

Above average

This account 5.17%

UK CPI (Aug 2026): 3.10%; Pays 2.07% more
Average 5-year fixed: 4.77%; Pays 0.40% more
Best 5-year fixed: 5.35%; Pays 0.18% 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 5 years

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 - 5 Year.

Estimated interest

£1,000 saved

£287

At 5.17% AER

£5,000 saved

£1,433

At 5.17% AER

£10,000 saved

£2,866

At 5.17% AER

£1,000,000 saved

£286,647

At 5.17% AER

Estimated over the 60-month term, 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 - 5 Year

Jan WatermannCo-Founder, DepositScout

This five-year bond from NS&I pays 5.17%, which sits above the market average for fixed-rate accounts, though it is 0.18% behind the current market leader at 5.35%. At 2.07% above August 2026 CPI of 3.1%, it does at least offer a meaningful real return. The main catch is that your money is completely locked away until maturity, with no access at all, and you can hold up to £1,000,000, so it suits savers with a large lump sum they genuinely will not need for five years. If you want a fractionally better rate, Chetwood Bank and Atom Bank both offer 5.20% over the same term.

Compare Fixed Rate Bonds

2 alternatives to NS&I's Guaranteed Growth Bonds - 5 Year3 alternatives to NS&I's Guaranteed Growth Bonds - 5 Year

Same type of account, closest on rate.

Common questions about the Guaranteed Growth Bonds - 5 Year

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