Fixed Rate from NS&I
Protection
FSCS
Up to £120,000
Min balance
£500
Max balance
£1,000,000
Access
No access until maturity
Interest paid
Monthly/
Annually
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Want to know how much interest you will receive with NS&I's Guaranteed Income Bonds - 2 Year?
Estimated interest
£1,000 saved
£98.51
At 4.81% AER
£5,000 saved
£493
At 4.81% AER
£10,000 saved
£985
At 4.81% AER
£1,000,000 saved
£98,514
At 4.81% AER
Estimated over the 24-month term, assuming the rate stays the same and interest stays in the account. Amounts outside this account's minimum or maximum balance are left out.
NS&I's Guaranteed Income Bonds at 4.81% over two years will appeal most to savers who want the reassurance of a government-backed institution and a monthly income option, since interest can be paid out each month to a separate account, though at a slightly lower gross rate than the annual version. The minimum is £500 and you can deposit up to £1,000,000, so it suits larger balances as much as smaller ones. The main catch is that there is no access until maturity, so your money is fully locked away for the two years. If the rate matters more than the NS&I backing, Investec's 2-Year Fixed Rate Saver is currently sitting at 5.00%.
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