Growth Bonds

Up to 2.20% gross/AER fixed

Earn a guaranteed fixed-rate with a choice of one, two or three year terms.

Key benefits

  • Start saving today: open your bond with anything from £500 to £1 million
  • Fixed rate of up to 2.20% gross/AER: choose the length of your term and know exactly how much interest you’ll earn
  • Choice of terms: save for one, two or three years
Growth Bonds are provided by Bank of Ireland UK

How it works

With our Growth Bonds, you choose how long you want to save for.

Get rates of 1.80% gross/AER fixed for 1 year, 2.05% gross/AER fixed for 2 years, 2.20% gross/AER fixed for 3 years.

Interest is paid annually on the anniversary of the account opening, which may suit longer term savers.

Growth Bonds are fixed term allowing you to put your money away for a fixed rate of interest. After the bond is opened you won’t be able to close your account unless it's due to exceptional circumstances, subject to approval, and a fee may apply. If the interest you’ve earned doesn’t cover this, you may get back less than you put in. No additional deposits are allowed.

Before applying check you’re eligible. A Growth Bond can be opened by anyone aged 16 or over, and a UK resident for tax purposes. If you're aged under 16 you’ll need an adult who is either a parent, grandparent or legal guardian to open it for you.

Is a Growth Bond right for you?

Right for you if
  • You’re happy to leave your money untouched for one, two or three years and receive interest annually
  • You want to save a lump sum between £500 and £1 million rather than make regular deposits
  • You want to know exactly what interest you’ll earn on your savings
Try something else if
  • You think you might need to withdraw your savings before the end of their term
  • You want to add to your savings on a regular basis
  • You haven’t already opened an ISA for this tax year

Not the right account for you? You could check out our Online Bond, Online Saver, Premier Cash ISA and Fixed Rate Cash ISA accounts

How to apply

Our Growth Bond rates change regularly, so apply today. Just pick up the phone or pop in to your nearest branch.

Your savings are protected by the Financial Services Compensation Scheme. Find out how your savings are protected


0800: Calls to 0800 numbers are normally free from UK landlines but charges may apply from mobile phones. Calls may be monitored or recorded for training and compliance purposes.

0845: Local call rates apply. Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes.

AER: AER stands for Annual Equivalent Rate and illustrates what the interest rates would be if interest was paid and compounded once each year.

Gross: Gross rates do not take into account deductions of income tax.

ISA An ISA is an Individual Savings Account. They are a tax-efficient way to save money as you pay no tax on the money you put into an ISA or the interest you earn. There are two types of ISA – cash ISAs with a fixed or a variable interest rate. And stocks and shares ISAs where your money is usually invested in stocks and shares. You can invest up to £15,000 between a cash ISA and a stocks and shares ISA this tax year (that's the period from 6th April to 5th April). You can only invest in one cash ISA and one stocks and shares ISA in each tax year.

Nominated account: A nominated account is a current account that we link to your savings account so that you can transfer money between accounts safely and securely whenever you like. It should be a UK personal bank or building society account in your name(s) that accepts Direct Debits.

Prevailing rate: The current rate of interest.

Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account.

Summary box - Key Product Information for our Growth Bonds
Account name Growth Bond.
Interest rates (AER's) Current interest rates can be found on the interest rates page. Rates are fixed. The fixed rates on offer can change to any time. The fixed rate you receive will be the fixed rate that is on offer when we receive your application. If you are unhappy with this rate, you can cancel your bond within 14-days, as detailed in the Terms and Conditions. After the fixed rate term, the interest paid will be variable.
Tax status Interest will be paid after the deduction of tax at the prevailing rate, unless instructed otherwise.
Conditions for bonus payments No bonus payments applicable.
Withdrawal arrangements No withdrawals are allowed during the fixed term.
After the 14-day cooling-off period, closure during the fixed term is only permitted in exceptional circumstances, subject to approval, and may be subject to a breakage fee, as detailed in the Terms and Conditions. If the interest you've earned doesn't cover this fee, you may get back less than you invested.
Access You will be able to access your money at end of the term but not before. You can view your Post Office Growth Bond online and contact us by phone, web or post.

Small print

Rates correct as at 12 September 2014.

Post Office Limited is an appointed representative of Bank of Ireland (UK) plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation. Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is registered in England & Wales, No. 07022885, Bow Bells House, 1 Bread Street, London EC4M 9BE.

Post Office Limited is registered in England and Wales. Registered No 2154540. Registered office is 148 Old Street, London EC1V 9HQ. Post Office and the Post Office logo are registered trademarks of Post Office Limited.

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