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

The NS&I Guaranteed Income Bonds - 5 Year pays 4.85% AER, fixed for 5 years.

How much interest could I earn?

Saving £10,000 for 5 years would earn about £2,672 at 4.85% 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?

You can choose to have interest paid monthly or annually.

Who can open this account?

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

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

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

At 4.85% AER it ranks 15th of 38 five-year fixed rate bonds we track. The best pays 5.35% and the average is 4.74%.

Dashboard

Fixed Rate

NS&I Guaranteed Income Bonds - 5 Year Review

A competitive five-year fixed rate bond from NS&I. It ranks 15th of 38 five-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 5 years

4.85%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

£1,000,000

Access

At maturity only

Interest paid

Monthly/Annually

How It Stacks Up

Ranks 15th of 38

5-year fixed bonds we track

Above average

This account 4.85%

UK CPI (Aug 2026): 3.10%; Pays 1.75% more
Average 5-year fixed: 4.74%; Pays 0.11% more
Best 5-year fixed: 5.35%; Pays 0.50% less

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

Compare fixed bonds

A Good Fit For

Pro: New and existing savers
Pro: Savers who want a monthly income

Worth Weighing Up

Con: Your money is locked in for 5 years

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Estimated returns with NS&I's Fixed Rate

What you could earn with NS&I's Guaranteed Income Bonds - 5 Year.

Estimated interest

£1,000 saved

£267

At 4.85% AER

£5,000 saved

£1,336

At 4.85% AER

£10,000 saved

£2,672

At 4.85% AER

£1,000,000 saved

£267,191

At 4.85% 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 Income Bonds - 5 Year

Jonny PeaseCo-Founder, DepositScout

NS&I's Guaranteed Income Bonds at 4.85% for five years sit below the market average for fixed-rate accounts, trailing the category leader by 0.50%, where the best available rate is 5.35%. The rate does beat August 2026 CPI of 3.1% by 1.75 percentage points, so your money grows in real terms, but if maximising yield is the priority, Chetwood Bank's 5 Year Fixed Rate Savings at 5.20% is worth a look. The genuine catch here is the usual fixed-rate one: no access until maturity, so you need to be comfortable locking away between £500 and £1,000,000 for the full five years.

Compare Fixed Rate Bonds