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historic-interest-rates

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									                                                            Interest Rate Changes
We are committed to keeping you informed and up-to-date on changes in the interest rates for our fixed and variable rate products.
Included are details of rate changes that have applied for each year of your investment.

For full details of an account or investment, including current interest rates, go to the 'Our range' section of our website.

Definitions
Tax-free means the interest and prizes are exempt from UK Income Tax and Capital Gains Tax.
Gross is the taxable rate of interest without the deduction of UK Income Tax.
Net is the rate of interest payable after the deduction of UK Income Tax at the rate specified by law.
AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year.
RPI (Retail Prices Index) is the measure of inflation we use to calculate increases in the value of Index-linked Savings Certificates. The RPI is
compiled and published monthly by the Office for National Statistics (ONS).
                                    Premium Bonds
                  Annual rate used to calculate prize fund for monthly draws

Effective from    Prizes tax-free        Odds per £1 Bond unit
1 October 2009    1.50%                  24,000 to 1
1 April 2009      1.00%                  36,000 to 1
1 December 2008   1.80%                  36,000 to 1
1 November 2008   2.85%                  24,000 to 1
1 May 2008        3.40%                  24,000 to 1
                                       Direct Saver

Effective from   Gross/AER (taxable)
19 July 2010     1.75%
8 March 2010     2.00%
                                    Direct ISA

Effective from     AER (tax-free)
19 August 2009     2.50%
18 March 2009      1.30%
19 February 2009   1.80%
21 January 2009    2.30%
7 November 2008    3.30%
8 October 2008     4.80%
10 April 2008      5.30%
                                      Cash ISA and T-Cash ISA
 Although our Cash ISA is no longer on general sale, customers with existing accounts can still make deposits
       and withdrawals. If you have an NS&I Cash ISA or T Cash ISA, you can transfer to our Direct ISA
                               if you want to earn a higher rate. See Direct ISA.

Effective from           AER (tax-free)
18 March 2009            0.50%
19 February 2009         0.90%
21 January 2009          1.40%
19 November 2008         2.40%
22 October 2008          3.90%
7 October 2008           4.40%
23 April 2008            4.60%
                               Income Bonds

Effective from     Gross (taxable) AER (taxable)
19 July 2010
£500-£24,999       1.45%           1.46%
£25,000+           1.75%           1.76%
20 May 2009
£500-£24,999       1.70%           1.71%
£25,000+           2.00%           2.02%
18 March 2009
£500-£24,999       0.70%           0.70%
£25,000+           1.00%           1.00%
19 February 2009
£500-£24,999       1.20%           1.21%
£25,000+           1.45%           1.46%
21 January 2009
£500-£24,999       1.95%           1.97%
£25,000+           2.20%           2.22%
19 November 2008
£500-£24,999       2.45%           2.48%
£25,000+           2.70%           2.73%
6 November 2008
£500-£24,999       3.75%           3.82%
£25,000+           4.00%           4.07%
7 October 2008
£500-£24,999       4.25%           4.33%
£25,000+           4.50%           4.59%
6 May 2008
£500-£24,999       4.45%           4.54%
£25,000+           4.70%           4.80%
                       Easy Access Savings Account

Effective from     Gross/AER (taxable)
19 February 2009
£100-£9,999        0.30%
£10,000-£49,999    0.45%
£50,000+           0.70%
21 January 2009
£100-£9,999        0.45%
£10,000-£24,999    0.70%
£25,000-£49,999    0.95%
£50,000+           1.20%
19 November 2008
£100-£9,999        1.45%
£10,000-£24,999    1.70%
£25,000-£49,999    1.95%
£50,000+           2.20%
22 October 2008
£100-£999          1.15%
£1000-£4,999       2.65%
£5,000-£9,999      2.95%
£10,000-£24,999    3.20%
£25,000-£49,999    3.45%
£50,000+           3.70%
07 October 2008
£100-£999          1.65%
£1000-£4,999       3.15%
£5,000-£9,999      3.45%
£10,000-£24,999    3.70%
£25,000-£49,999    3.95%
£50,000+           4.20%
23 April 2008
£100-£999          1.85%
£1000-£4,999       3.35%
£5,000-£9,999      3.65%
£10,000-£24,999    3.90%
£25,000-£49,999    4.15%
£50,000+           4.40%
22 February 2008
£100-£999          2.10%
£1000-£4,999       3.60%
£5,000-£9,999      3.90%
£10,000-£24,999    4.15%
£25,000-£49,999    4.40%
£50,000+           4.65%
                            Investment Account

Effective from     Gross/AER (taxable)
18 March 2009
£1-£24,999         0.20%
£25,000+           0.30%
19 February 2009
£1-£9,999          0.30%
£10,000-£49,999    0.40%
£50,000+           0.50%
21 January 2009
£1-£24,999         0.35%
£25,000-£49,999    0.55%
£50,000+           0.90%
19 November 2008
£1-£499            1.00%
£500-£4,999        1.05%
£5,000-£9,999      1.15%
£10,000-£24,999    1.35%
£25,000-£49,999    1.55%
£50,000+           1.90%
22 October 2008
£1-£499            2.50%
£500-£4,999        2.55%
£5,000-£9,999      2.65%
£10,000-£24,999    2.85%
£25,000-£49,999    3.05%
£50,000+           3.40%
7 October 2008
£1-£499            3.00%
£500-£4,999        3.05%
£5,000-£9,999      3.15%
£10,000-£24,999    3.35%
£25,000-£49,999    3.55%
£50,000+           3.90%
23 April 2008
£1-£499            3.20%
£500-£4,999        3.25%
£5,000-£9,999      3.35%
£10,000-£24,999    3.55%
£25,000-£49,999    3.75%
£50,000+           4.10%
                                Fixed Interest Savings Certificates

2-year (guaranteed compound rate over 2 years)
No Issue on general sale from 19 July 2010 until further notice, however it is available for
customers with maturing 2-year Certificates.

Effective from          Issue        AER (tax-free)
                          th
12 May 2011             48           1.25%
                          th
19 August 2009          47           1.25%
                          th
19 February 2009        46           0.95%
                          th
21 January 2009         45           1.90%
17 September 2008       44th         2.95%


5-year (guaranteed compound rate over 5 years)

Effective from          Issue        AER (tax-free)
                          th
12 May 2011             97           2.25%
                          th
19 August 2009          96           2.25%
                          th
19 February 2009        95           1.90%
                          th
21 January 2009         94           2.35%
                          rd
17 September 2008       93           2.95%
                          nd
18 June 2008            92           3.50%
                          st
21 May 2008             91           2.95%
                          th
2 April 2008            90           2.70%
                          th
23 January 2008         89           3.00%
                          th
28 November 2007        88           3.15%
                          th
24 October 2007         87           3.50%
                          th
20 June 2007            86           3.85%
                          th
23 May 2007             85           3.60%
                          th
24 January 2007         84           3.50%
                          rd
20 May 2006             83           3.20%
                          nd
3 April 2006            82           3.05%
30 December 2005        81st         2.95%
                                  Index-linked Savings Certificates

2-year (Index-linking + guaranteed compound rate over 2 years)
(no Issue on general sale, only available to customers with maturing 2-year Certificates)

Effective from          Issue          Index-linking + AER (tax-free)
                             th
12 May 2011             38             Index-linking + 0.50%
                             th
7 April 2010            37             Index-linking + 1.00%
29 April 2009           36th           Index-linking + 1.00%


3-year (Index-linking + guaranteed compound rate over 3 years)
No Issue on general sale from 19 July 2010 until further notice, however it is available for
customers with maturing 3-year Certificates.

Effective from          Issue          Index-linking + AER (tax-free)
                             st
12 May 2011             21             Index-linking + 0.50%
                             th
7 April 2010            20             Index-linking + 1.00%
                             th
29 April 2009           19             Index-linking + 1.00%
                             th
18 June 2008            18             Index-linking + 1.00%
                             th
21 May 2008             17             Index-linking + 0.70%
2 April 2008            16th           Index-linking + 0.25%


5-year (Index-linking + guaranteed compound rate over 5 years)

Effective from          Issue          Index-linking + AER (tax-free)
                             th
12 May 2011             48             Index-linking + 0.50%
                             th
7 April 2010            47             Index-linking + 1.00%
                             th
29 April 2009           46             Index-linking + 1.00%
                             th
18 June 2008            45             Index-linking + 1.00%
                             th
21 May 2008             44             Index-linking + 0.70%
                             rd
2 April 2008            43             Index-linking + 0.35%
                             nd
25 April 2007           42             Index-linking + 1.35%
                             st
20 May 2006             41             Index-linking + 1.10%
                             th
3 April 2006            40             Index-linking + 0.95%
30 December 2005        39th           Index-linking + 1.05%
                               Children's Bonus Bonds

Guaranteed compound rate over 5 years

Effective from       Issue     AER (tax-free)
                          th
19 August 2009       34        2.50%
                          rd
19 February 2009     33        2.30%
                          nd
21 January 2009      32        2.85%
                          st
17 September 2008    31        3.70%
                          th
18 June 2008         30        4.45%
                          th
21 May 2008          29        3.75%
                          th
2 April 2008         28        3.40%
                          th
23 January 2008      27        3.75%
                          th
28 November 2007     26        4.05%
                          th
24 October 2007      25        4.55%
                          th
20 June 2007         24        5.10%
                          rd
23 May 2007          23        4.80%
                          nd
24 January 2007      22        4.60%
                          st
20 May 2006          21        4.25%
                          th
30 December 2005     20        3.85%
                          th
21 July 2005         19        3.65%
                          th
21 April 2005        18        4.10%
                          th
1 February 2005      17        4.00%
19 August 2004       16th      4.45%
                                   Guaranteed Growth Bonds
    Replacement for Fixed Rate Savings Bonds and Capital Bonds effective from 23 February 2008

6-month (no Issue on sale, only available to customers with maturing 6-month Bonds)

Effective from           Issue         Gross/AER (taxable)
18 August 2010           52nd          1.55%


1-year (no Issue on general sale from 18 November 2009 until further notice, however
the 51st Issue it is available for customers with maturing Bonds)

Effective from           Issue         Gross/AER (taxable)
                              st
27 September 2010        51            2.20%
                              th
18 August 2010           50            2.45%
                              th
17 February 2010         49            3.20%
26 October 2009          48th          3.95%


18-month (no Issue on sale, only available to customers with maturing 18-month Bonds)

Effective from           Issue         Gross/AER (taxable)
                              th
27 September 2010        50            2.20%
                              th
18 August 2010           49            2.45%
                              th
17 February 2010         48            3.20%
                              th
26 October 2009          47            3.95%
                            th
19 February 2009         46            0.95%



2-year (no Issue on general sale from 18 November 2009 until further notice, however
the 44th Issue is available for customers with maturing Bonds)

Effective from           Issue         Gross/AER (taxable)
                              th
27 September 2010        44            2.75%
                              rd
18 August 2010           43            3.25%
                              nd
17 February 2010         42            4.05%
                              st
26 October 2009          41            4.25%
                            th
13 July 2009             40            3.75%
3-year (no Issue on general sale from 11 December 2009 until further notice, however
the 44th Issue is available for customers with maturing Bonds)

Effective from        Issue     Gross/AER (taxable)
                           th
27 September 2010     44        3.25%
                           rd
18 August 2010        43        3.55%
                           nd
26 October 2009       42        4.40%
                           st
19 February 2009      41        1.75%
                           th
21 January 2009       40        2.80%
                           th
17 September 2008     39        4.00%
                           th
18 June 2008          38        4.75%
                           th
21 May 2008           37        4.00%
                           th
2 April 2008          36        3.55%
23 February 2008      35th      4.00%



5-year (no Issue on general sale from 11 December 2009 until further notice, however
the 41st Issue is available for customers with maturing Bonds)

Effective from        Issue     Gross/AER (taxable)
                           st
27 September 2010     41        3.90%
                           th
18 August 2010        40        4.00%
                           th
26 October 2009       39        4.60%
                           th
19 February 2009      38        2.60%
                           th
21 January 2009       37        3.15%
                           th
17 September 2008     36        4.00%
                           th
18 June 2008          35        4.75%
                           th
21 May 2008           34        4.05%
                           rd
2 April 2008          33        3.65%
23 February 2008      32nd      4.05%
                                 Guaranteed Income Bonds
   Replacement for Fixed Rate Savings Bonds and Pensioner's Bonds effective from 23 February 2008

6-month (no Issue on sale, only available to customers with maturing 6-month Bonds)

Effective from           Issue       Gross (taxable) AER (taxable)
18 August 2010           52nd        1.50%               1.51%


1-year (no Issue on general sale from 18 November 2009 until further notice, however
the 51st Issue is available for customers with maturing Bonds)

Effective from           Issue       Gross (taxable) AER (taxable)
                            st
27 September 2010        51          2.15%               2.17%
18 August 2010           50th        2.40%               2.43%
17 February 2010         49          3.15%               3.20%
26 October 2009          48th        3.85%               3.92%


18-month (no Issue on sale, only available to customers with maturing 18-month Bonds)

Effective from           Issue       Gross (taxable) AER (taxable)
27 September 2010        50th        2.15%           2.17%
18 August 2010           49th        2.40%               2.43%
                            th
17 February 2010         48          3.15%               3.20%
26 October 2009          47th        3.85%               3.92%



2-year (no Issue on general sale from 18 November 2009 until further notice, however
the 44th Issue is available for customers with maturing Bonds)

Effective from           Issue       Gross (taxable) AER (taxable)
                            th
27 September 2010        44          2.70%               2.73%
                            rd
18 August 2010           43          3.20%               3.25%
                            nd
17 February 2010         42          3.95%               4.02%
                            st
26 October 2009          41          4.15%               4.23%
13 July 2009             40th        3.65%               3.71%
3-year (no Issue on general sale from 11 December 2009 until further notice, however
the 44th Issue is available for customers with maturing Bonds)

Effective from        Issue     Gross (taxable) AER (taxable)
                        th
27 September 2010     44        3.20%            3.25%
                        rd
18 August 2010        43        3.45%            3.51%
                        nd
26 October 2009       42        4.30%            4.39%
                        st
19 February 2009      41        1.70%            1.71%
                        th
21 January 2009       40        2.70%            2.73%
                        th
17 September 2008     39        3.90%            3.97%
                        th
18 June 2008          38        4.65%            4.75%
                        th
21 May 2008           37        3.90%            3.97%
                        th
2 April 2008          36        3.45%            3.51%
23 February 2008      35th      3.90%            3.97%


5-year (no Issue on general sale from 11 December 2009 until further notice, however
the 41st Issue is available for customers with maturing Bonds)

Effective from        Issue     Gross (taxable) AER (taxable)
                        st
27 September 2010     41        3.80%            3.87%
                        th
18 August 2010        40        3.90%            3.97%
                        th
26 October 2009       39        4.50%            4.59%
                        th
19 February 2009      38        2.55%            2.58%
                        th
21 January 2009       37        3.05%            3.09%
                        th
17 September 2008     36        3.90%            3.97%
                        th
18 June 2008          35        4.65%            4.75%
                        th
21 May 2008           34        3.95%            4.02%
                        rd
2 April 2008          33        3.55%            3.61%
23 February 2008      32nd      3.95%            4.02%
                                   Fixed Rate Savings Bonds
         Product no longer on sale as of 23 February 2008. Please see Guaranteed Income Bonds
                                     and Guaranteed Growth Bonds.

3-year

Effective from             Issue         Gross/AER (taxable)
                              th
23 January 2008       34
500-19,999 Input                         3.75%
20,000-49,999 Input                      3.90%
50,000+ Input                            4.10%
500-19,999 M Input                       3.65%
20,000-49,999 M Input                    3.80%
50,000+ M Input                          4.00%
28 November 2007      33rd
500-19,999 Input                         4.05%
20,000-49,999 Input                      4.20%
50,000+ Input                            4.40%
500-19,999 M Input                       3.95%
20,000-49,999 M Input                    4.10%
50,000+ M Input                          4.30%
                              nd
24 October 2007       32
500-19,999 Input                         4.65%
20,000-49,999 Input                      4.80%
50,000+ Input                            5.00%
500-19,999 M Input                       4.55%
20,000-49,999 M Input                    4.70%
50,000+ M Input                          4.90%


5-year

Effective from             Issue         Gross/AER (taxable)
                              st
23 January 2008       31
500-19,999 Input                         3.80%
20,000-49,999 Input                      3.95%
50,000+ Input                            4.15%
500-19,999 M Input                       3.70%
20,000-49,999 M Input                    3.85%
50,000+ M Input                          4.05%
28 November 2007           30th
500-19,999 Input                         4.00%
20,000-49,999 Input                      4.15%
50,000+ Input                            4.35%
500-19,999 M Input                       3.90%
20,000-49,999 M Input           4.05%
50,000+ M Input                 4.25%
24 October 2007       29th
500-19,999 Input                4.55%
20,000-49,999 Input             4.70%
50,000+ Input                   4.90%
500-19,999 M Input              4.45%
20,000-49,999 M Input           4.60%
50,000+ M Input                 4.80%
20 June 2007          28th
500-19,999 Input                5.05%
20,000-49,999 Input             5.20%
50,000+ Input                   5.40%
500-19,999 M Input              4.95%
20,000-49,999 M Input           5.10%
50,000+ M Input                 5.30%
23 May 2007           27th
500-19,999 Input                4.75%
20,000-49,999 Input             4.90%
50,000+ Input                   5.10%
500-19,999 M Input              4.65%
20,000-49,999 M Input           4.80%
50,000+ M Input                 5.00%
24 January 2007       26th
500-19,999 Input                4.60%
20,000-49,999 Input             4.75%
50,000+ Input                   4.95%
500-19,999 M Input              4.50%
20,000-49,999 M Input           4.65%
50,000+ M Input                 4.85%
20 May 2006           25th
500-19,999 Input                4.20%
20,000-49,999 Input             4.35%
50,000+ Input                   4.55%
500-19,999 M Input              4.10%
20,000-49,999 M Input           4.25%
50,000+ M Input                 4.45%
                           th
30 December 2005      24
500-19,999 Input                3.80%
20,000-49,999 Input             3.95%
50,000+ Input                   4.15%
500-19,999 M Input              3.70%
20,000-49,999 M Input           3.85%
50,000+ M Input                 4.05%
                                         First Option Bonds
                 Product no longer on sale as of 1999. Please see Guaranteed Growth Bonds.

1-year

Effective from            Issue      Gross (taxable)
                             rd
27 September 2010         43         1.75%
                             nd
18 August 2010            42         2.00%
                             st
17 February 2010          41         3.20%
26 October 2009           40th       3.95%
                                    Residual Account

  Where an NS&I product has been closed and we have been unsuccessful in our efforts to
 return the money invested to our customer such remaining holdings are transferred to the
                                    Residual Account.

There are two types of holding within the Residual Account: Type A which are interest
bearing; and Type B which are non-interest bearing.

Type A:
Ordinary Account, Deposit Bonds, Yearly Plan, SAYE and Tresurer's Account

Effective from        Gross/AER (taxable)
18 March 2009         0.10%
21 January 2009       0.15%
19 November 2008      0.25%


Type B: 0% interest paid
Gift Tokens; Savings Stamps and British Savings Bonds
                                    Ordinary Account

The Ordinary Account has now been closed completely and any remaining funds transferred
   to the Residual Account on 18 June 2008. The interest earned on funds in the Residual
  Account is taxable but credited gross. (Please note that no tax is payable on the first £70
    interest earned up to 17 June 2008, ie before transfer to the NS&I Residual Account.)
                                 General Extension Rate
 Interest earned on 7th to 43rd Issue Fixed Interest Savings Certificates that matured before
     8 October 2001, and on Yearly Plan, for each complete period of three months held.


Effective from       AER (tax-free)
1 April 2009         0.09%
1 February 2009      0.15%
1 December 2008      0.51%
1 November 2008      1.71%
1 May 2008           2.19%
1 March 2008         2.67%
                            Pensioners Guaranteed Income Bonds
          Product no longer on sale as of 23 February 2008. Please see Guaranteed Income Bonds.

Monthly Interest

2-year

Effective from     Series     Gross (taxable) AER (taxable)
23 January 2008    44         3.85%           3.92%


5-year

Effective from     Series     Gross (taxable) AER (taxable)
23 January 2008    69         3.90%           3.97%
                                        Capital Bonds
       Product no longer on sale as of 23 February 2008. Please see Guaranteed Growth Bonds.



Effective from      Series     Gross/AER (taxable)
23 January 2008     31         3.95%

								
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