New 65+ Bonds now on sale

The new 65+ Bonds, announced by the Chancellor of the Exchequer in the March 2014 Budget, have been launched today and are now on sale at, by phone on 0500 500 000 and by post.

  • 65+ Bonds will offer market leading rates to people aged 65 and over
  • NS&I expect the Bonds will be on sale for months rather than weeks

As confirmed on 12 December 2014 by the Chancellor, the Bonds – which are formally known as 65+ Guaranteed Growth Bonds – will offer 2.8% gross/AER interest over a one-year term and 4% gross/AER interest over a three-year term.

The issue of these Bonds has been made at the Chancellor’s request, and has been designed to support older savers who rely on their savings during their retirement.

Up to £10 billion has been made available to cover both the one and three year terms, enabling sales of the Bonds to continue for an expected period of months rather than weeks.

Key features

Key features of the Bonds are as follows:

  • Lump sum investments providing capital growth
  • Choice of terms: 1-year and 3-year
  • Investment limits apply: minimum of £500 and maximum of £10,000, per person per term
  • Designed to be held for the whole term, but can be cashed in early with a penalty equivalent to 90 days’ interest on the amount cashed in
  • Investments can be made individually or jointly with one other person aged 65 or over
  • Fixed rates are guaranteed for the whole term, with interest added on each anniversary
  • Interest is taxable and paid net (with basic rate Income Tax deducted)
  • Available online at, by phone on 0500 500 000 or by post

Chancellor of the Exchequer, George Osborne said:

“A key part of our long term economic plan is to support savers and boost hardworking people’s financial security at all stages of life.

“That’s why I am delighted to announce that the government’s new 65 plus bonds are now on sale with the best interest rates in the market. These bonds will give hundreds of thousands of older savers the certainty and comfort of a good return over the life of their investment.”

Jane Platt, Chief Executive, NS&I, said:

“We’re really pleased to be starting the New Year by offering the 65+ Bonds to support older savers.

“We expect these Bonds to be on sale for months not weeks and would like to reassure savers that there is no need to rush to invest. We would also encourage savers to apply online. This should be the quickest and easiest way to invest and will provide immediate assurance that an application has been received.”

Any savers that are interested and would like to find out more should visit:

Notes to Editors

  1. 2014 Autumn Statement announcement (page 94; paragraph A.12), discusses the sale of the 65+ Guaranteed Growth Bonds by NS&I.
  2. NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to more than 25 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
  3. AER stands for Annual Equivalent Rate and enables the comparison of interest rates from different financial institutions and across different products on a like-for-like basis. It shows what the notional annual rate would be if interest was compounded each time it was credited or paid out. Where interest is credited once a year the rate quoted and the AER will be the same.

For further information please contact the NS&I media team.