Growth Bonds FAQs

Answers to some of your most common questions

Can I have a Post Office Money Growth Bond?

A Growth Bond can be opened by anyone, aged 16 or over, who is resident and ordinarily resident for tax purposes in the UK, either individually or jointly with one other person.

A Growth Bond for a minor under 16 can only be opened by an adult representative who is a parent, grandparent or legal guardian.

How long does the application take?

When we receive your application and initial deposit we will open your account. This normally takes 2/3 working days. To do this we need to complete a number of tasks. This includes confirming your identity and address. For the majority of customers we do this through electronic verification. Some customers may be required to provide further evidence and in these cases we will write to you. The whole application process will depend on how long you take to return your signed application form to us.

Please note: Interest is payable once your account has opened and your initial deposit has cleared.

What’s the minimum amount I can deposit?

The minimum amount is £500, and further deposits may not be made to the Bond during the term.

What’s the maximum amount I can deposit?

The maximum amount is £1,000,000 and further deposits may not be made to the Bond during the term.

When do I receive my interest?

For terms of 1 year, interest will be paid at the end of the term. If you choose an investment term of longer than 1 year:
1.    By default, interest will be added to your bond annually and be available for withdrawal at the end of the fixed term.
2.    Alternatively, you can choose to have your annual interest paid into a nominated bank/building society account. You can select this option on the application form. If you choose to have your annual interest paid into a nominated account your total return will differ due to interest not compounding.
Please note: Interest is payable once your account has opened and your initial deposit has cleared.

What will happen at the end of the term?

We will write to you shortly before your bond matures to let you know the date of maturity and how much will be maturing. If you chose not to reinvest, then we will put your funds into a variable rate savings account where you can access your savings when  you choose by post, phone and online.

Do I pay tax on the interest I receive?

All interest is paid gross without income tax deducted. This is based on our understanding of current law and HM Revenue & Customs practice.

What happens if I die before the bond matures?

The bond may remain invested in your name until it matures or it may be closed. If it is closed before maturity, we will repay the amount invested in the bond together with any interest accrued up to the date of withdrawal. The Terms and Conditions contain full details.

Can I withdraw my money early?

Before opening a Growth Bond you should be sure that you will be able to leave your deposit untouched for the whole term.  However, if in exceptional circumstances you need to withdraw all your money, this may be possible, subject to approval. By exceptional circumstances we mean an event outside your control, that you could not have reasonably foreseen when you opened the bond that is likely to cause you significant financial or personal detriment, i.e. bankruptcy or diagnosis of a terminal illness.

For clarity a house purchase would not typically classify as an exceptional circumstance unless failure to purchase the house would cause you significant personal detriment. All closure requests must be sent in writing to us and include an explanation of the exceptional circumstance surrounding your request. We may ask for evidence and/or further information to be provided. Early closure is usually subject to a breakage fee. If the interest earned doesn't cover this, you may get back less than you put in.

Are there any other charges?

There are no charges or fees, other than a breakage fee if you need to make a withdrawal, due to exceptional circumstances, during the fixed term.

Who can I talk to if I have a query or complaint?

First of all, we hope you never have reason to find a complaint with your Growth Bond account.

However if you do need to talk to us, please don’t hesitate to call us on 0345 602 3409 to speak to one of our Customer Service representatives. Our lines are open 8.00am a– 10.00pm weekdays, 8.00am – 6.00pm Saturday and 10.00am – 5.00pm Sunday and Bank Holidays.

Or write to us at:

Post Office Money Customer Care Team

We will do all we can to sort out your enquiry or complaint as soon as possible. Please allow up to 5 working days to receive a reply.

If you have made a complaint but are still not satisfied with the response you have received, the Financial Ombudsman Service may be of assistance. They are independent and can help to resolve disputes between banks and their customers:

Exchange Tower
Harbour Exchange Square
E14 9SR
Phone: 08000 234 567 or +44 207 964 0500




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

0345: Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

Give us a call

0800 169 7500 8am-10pm, Mon-Fri
8am-6pm, Sat
10am-5pm Sunday and Bank Holidays