NS&I cuts interest rates on 7 savings products – full list of changes

The cut means NS&I’s savings bonds are far less competitive than other fixed term bonds on the market. We look at what’s changed.

Woman looking at a piggy bank
(Image credit: Jelena Lalic via Getty Images)

NS&I has cut interest rates on seven of its savings products, including the Junior ISA.

The government-backed savings provider today launched new issues of their two, three, and five-year British Savings Bonds back on the market, but with lower interest rates.

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Product

Previous interest rate (from 15 April 2025)

New interest rate from 3 July 2025 (on general sale)

Guaranteed Growth Bonds 2-year (Issue 74)

4.00% gross/AER

3.85% gross/AER

Guaranteed Income Bonds 2-year (Issue 74)

3.93% gross/4.00% AER

3.79% gross/3.85% AER

Guaranteed Growth Bonds 3-year (Issue 76)

4.10% gross/AER

3.88% gross/AER

Guaranteed Income Bonds 3-year (Issue 76)

4.03% gross/4.10% AER

3.82% gross/3.88% AER

Guaranteed Growth Bonds 5-year (Issue 68)

4.06% gross/AER

3.84% gross/AER

Guaranteed Income Bonds 5-year (Issue 68)

3.99% gross/4.06% AER

3.78% gross/3.84% AER

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Product

Previous interest rate (from 18 August 2023)

New interest rate from 18 July 2025

Junior ISA

4.00% AER (tax-free)

3.55% AER (tax-free)

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.