Guaranteed Income Bonds
What you need to decide
If you decide to renew an existing Bond on or after 1 May 2019, you won’t be able to cash it in before the new maturity date – you’ll need to hold the Bond for the full term.
Because this is a major change, we are also giving you the right to cancel within 30 days of renewing a Bond.
What this change means
Previously, we gave you access to your investment before the end of its term but charged a penalty equal to 90 days’ interest on any money you took out early. Now, once you’ve decided to renew a Bond on or after 1 May 2019, you won’t have access to your money until the Bond reaches the end of its new term.
If you are thinking about renewing a Bond but might need access to your money before the end of the new term, you may want to consider a different account.
Managing your Bonds
You can log in or call us at any time to check the value of your Bond.
Shortly after the end of each tax year, we’ll send you a statement showing the interest earned and the value of your Bond.
Before you decide
Please read the summary box and the key features leaflet, including the customer agreement (terms and conditions) last updated on 1 May 2019.