Online Bond

  • Start saving today: with just £500
  • Receive your interest monthly or annually

Post Office Money® Online Bond is provided by
Bank of Ireland UK.

Online Bond Rates

1 year at 0.95% 
gross/AER fixed

Monthly interest available, see below.

Is this right for you?

Our Online Bond may be right for you if you:

  • Want to know exactly how much interest you’ll earn on your savings
  • Want the flexibility of choosing either monthly or annual interest payments
  • Are happy to leave your money untouched for a fixed term

Our Online Bond may not be right for you if:

  • You need to make withdrawals during the fixed term
  • You want to add more money to your savings
  • You’re not happy to manage your savings online

Online Bond Interest rates

Fixed term

Annual interest Monthly interest
1 year 0.95% gross/AER fixed 0.94% gross/0.95% AER fixed

For help with key terms used, please see the Definitions tab.

How it works

Bonds give you a fixed rate of interest for the entire term, which you'll lock into when your account is opened.

Are you eligible?

You can open an Online Bond if you’re over the age of 18, a UK resident and resident in the UK for tax purposes. This doesn’t include the Channel Islands and the Isle of Man.

Opening an account

You’ll need at least £500 to save for the term you choose, a valid email address and the details of the bank / building society account you wish to transfer from.
Most of the time your account will be opened immediately after you’ve completed the application process (which takes around 5-10 mins). You can also apply under a Power of Attorney here.
We may need to verify your identity once your application has been completed, we’ll be in touch if we need this.

Earning Interest

You can choose to receive interest annually or monthly. The date your interest is paid is on the anniversary of your account opening or the closest business day.

Summary Box


Summary Box

Key product information for our Online Bond Savings Account

Account name Online Bond (Issue 33)
Interest rates (AERs) 1 Year term: Annual interest option: 0.95% gross/AER fixed. Monthly interest option: 0.94% gross/0.95% AER fixed
Tax status Interest will be paid gross, without the deduction of income tax.
Conditions for bonus payment None
Withdrawal arrangements

You can't withdraw the funds from your Account prior to maturity. However, we may allow you to close your account during the fixed term at our discretion in exceptional circumstances. 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 (outlined in the Terms & Conditions) meaning you could get back less than you originally invested.

Partial withdrawals are not permitted. 

Access You will be able to access your money at the end of the term but not before. You can view your Post Office Money Online Bond online.



Online Bond FAQs

How do you verify my personal details?

By law we are required to have adequate proof of your identity and address before opening your account. Usually we will be able to verify your identity and address online using a variety of sources, including searches using public information bodies. In some cases, we might ask you for further documentation.

Why do I need to supply information about my bank/building society account?

If you have chosen to fund the opening of your bond from your bank or building society account, we require your account details to enable us to set up a one off transfer via Direct Debit. Please allow a minimum of 12 business days for us to set up and process your transfer request. If you try to transfer funds again while this process is still in progress it can result in your deposit being taken twice.

We will also ask for your bank/building society account details if you choose to have your interest paid away.

How long does it take for my deposit to reach my Online Bond if I have chosen ‘from bank account’ as my funding option?

If you have chosen to open your bond using the funding option ‘from bank account’ we will need to set up a transfer agreement with your bank/building society via Direct Debit. Once this agreement has been successfully set up and your deposit is received we will manage it through our systems and pay it into your bond. This process can take a minimum of 12 business days to complete. You’ll earn interest from the day we receive your money from your bank/building society.

Why am I being asked to set up a Direct Debit on my account?

We only set up a Direct Debit if you have chosen to fund your account opening by electronic transfer. The Direct Debit facility allows us to process your payment request from your bank/building society account. We only use this instruction for the one off deposit to open your bond. No subsequent payments will be taken.

What documents will you need to see before accepting my application?

The two lists below are the documentation you can provide.

We have to see a different document from each list. The two documents must be from different organisations.

How to submit your documents to us:

Either take your identity documents into a Post Office branch for certification, free of charge, or send your documents by post. However, we strongly recommend that you avoid sending your original documents by post for security reasons (see below).

In branch:

Hand your completed form, along with your original documents to a member of staff at any Post Office branch. They will record the details of your documents and return them to you, free of charge.

By post:

Send certified copies of the documents you have selected. If you choose this option you must make sure that the copies have been “Certified Original Sighted” with the certification signed and dated and stamped by a Solicitor, Accountant, Bank Official, or at a Post Office offering the passport checking service.

You can locate Post Office branches offering the passport checking service by

  • calling our customer service centre on 0800 169 7500 or
  • looking online at – simply click on the branch locator link and select 'passport checking service' from the list


Send us the original documents you have selected. We recommend that passports and driving licences are always sent by registered post.

List A

  • current valid UK/EU signed passport (not more than 10 years old)
  • current full UK/EU photo card driving licence (not more than 10 years old)
  • current full UK driving licence (old style) (not more than 51 years old)
  • correspondence from DWP / benefits agency eg pension / allowance benefit – dated within the last 13 months and showing your full name
  • EU National Identity Card (photographic)
  • tax Coding notice/assessment – dated within the last 13 months


List B

  • Utility bill – e.g. gas, electricity, water telephone (not mobile) – dated within the last 6 months
  • Bank / building society / mortgage / credit union / credit card statement – dated within the last 6 months
  • Current full UK / EU photo card driving licence (not more than 10 years old)
  • Current full old-style UK driving licence (paper version, not more than 51 years old)Local Authority Correspondence (e.g. rates / council tax) – valid for this year
  • Correspondence from the DWP / benefits agency – dated within the last 13 months
  • HM Revenue & Customs / Revenue Commissioners correspondence – e.g. tax coding notice (P60s and P45s are not acceptable) – dated within the last 13 months

Please note if we do not receive suitable documentation within 28 days of your application it will be cancelled and you will need to start the application process again.

What happens if I change my mind?

If you are unhappy about your choice of account, you may cancel your Account, but you must inform us of your decision to cancel, in writing, within 14 days of receiving notification from us that your Account has been opened. Once you have informed us of your wish to cancel, we will help you switch to another Post Office Money savings product or alternatively, we will give you all your money back with any interest it has earned. If you do not exercise your right to cancel, your account will continue. If you need to close your Account after the end of the 14 day cancellation period, due to exceptional circumstances, then a Bond breakage fee may be applied. This is detailed in the Terms and Conditions.

Why would you need to reconfirm my identity if I’m an existing Savings customer?

If you are an existing customer, there are various reasons why we must reconfirm your identity and address, you may have moved address since you last opened an account or you currently have no active accounts, for example

I have a Post Office Money online banking User ID and 6 digit security number – will I receive another User ID and 6 digit security number for my new Online Bond?

No, you can keep your existing User ID and security number when you open an Online Bond – but to do this you need to apply while logged in to your existing account. Please log into our online banking service and apply using the ‘Apply for a Savings Account’ link.

If you apply for a sole account this way it means you will be able to continue using your existing User ID and 6 digit security number. If you apply for a joint account this way the primary account holder will be able to continue using their existing User ID and 6 digit security number, the secondary account holder will be sent a new User ID and 6 digit security number.

If you apply for an Online Bond without logging into our online banking service we will send you a new User ID and 6 digit security number.

Can I apply under a power of attorney?

A power of attorney will normally allow you to open or operate an account on behalf of another person.

We cannot provide any assistance on acquiring a power of attorney. Please contact your legal adviser about this.

To apply for a Post Office Money Online Bond under a power of attorney, you'll need to provide your own details and the Donor’s personal details too.

This includes:

  • full name and address
  • date of birth
  • telephone number
  • occupation
  • bank details (donor only)
  • email address
  • mother's maiden name
  • place of birth
  • country of residence (for tax purposes)
  • nationality

You'll also need to provide:

  • an original or certified copy of the complete Power of Attorney document
  • a note of the reason for granting the Power of Attorney
  • any further identification documents we've requested

Please note we will not agree to give anyone else authority over your account except under an Enduring Power of Attorney or a Property and Financial Affairs Lasting Power of Attorney that is registered with the Court of Protection. Only in exceptional circumstances will we accept unregistered forms of attorney or other third party authorities to operate the account.

To open a Post Office Money Online Bond or take over the management of an existing account under a Power of Attorney, download and complete this form (PDF, 108KB)

Logging in for the first time

The first time you log in you will see our guide to using our Telephone and Internet Service. Please read it and, if you accept it, click on the Agree button at the bottom of the screen. Please do not close the page at this stage without selecting one of the options.

You can now change your 6 digit security number to something more memorable by selecting Change Security Numbers under Savings Account Management and following the on-screen instructions.

Can I change my 6 digit security number to something more memorable?

Yes, you can change your 6 digit security number to something more memorable. To do this:
1. Log in to the online banking service.
2. Under Savings Account Management select ‘Change security number’.
3. Follow the on-screen instructions.

When choosing your PIN please make it memorable to you but do not make it easy to guess, i.e. do not use your date of birth, the same numbers, e.g. 111111 or a sequence of numbers, e.g. 123456.

How do I update the personal details that you hold for me?

You can update your email address, phone numbers and postal address using our online banking service.

To do this:
1. Log in to our online banking service
2. Under Savings Account Management, select Amend Personal Details.
3. Follow the on-screen instructions

We will update your email address and phone number instantly. To change your postal address you will be prompted to print off a form, which you will need to sign, date and post to us. For your security, when you change your address you will not be able to make any deposits or withdrawals for 5 business days.

If you wish to change your name, please write to us with your new details, providing evidence (i.e. copy of your marriage certificate) at:

Post Office Money Savings
PO Box 87
BT61 0BN

Please note if you did not provide a copy of your signature during the account opening process you will need to complete a Signature Mandate at the same time – simply follow the on-screen instructions to do this.

How do I add a/change an existing nickname for my Post Office Money Online Bond?

To help you manage your savings you can add a nickname to your account, for example, “money for wedding”. To do this:

  1. Under Savings Account Management select Other.
  2. Select Change account nickname.
  3. Follow the on screen instructions.

How do I close my Post Office Money Online Bond?

Online Bonds are designed to be held for the full term and can only be closed in exceptional circumstances. If you need to close your bond early please write to us confirming why you need to close your bond. We will then confirm our decision, the next steps and any breakage fee that may be applicable.

Please print off your online statements before your Bond is closed

What is a nominated account?

A nominated account is a current account:

  • From which you can make your lump sum deposit
  • To which any interest will be sent (if you choose for your interest to be paid away rather than accumulate)
  • To which the account balance will be sent in the event of the Bond being closed early

Can I use a joint current account as my nominated account?

For sole Online Bond accounts: Yes – your nominated current account can be either a sole or a joint account (to which you are a party).

For joint Online Bond accounts: Your nominated current account must be a joint account in the same names as your Online Bond account.

Can I change my nominated account?

1. Once your account is open, log in to our online banking service.
2. Under Savings Account Management select Change nominated Account.
3. Follow the on-screen instructions to change your current nominated account.

Please note, when you change your nominated account you will not be able to make any withdrawals (subject to the Terms and Conditions of the account) for 5 business days.

When is interest paid?

You can choose whether your interest is paid monthly or annually at Account opening:

  • Annual interest is paid on the anniversary of Account opening
  • Monthly interest is paid each month, based on the date that the Account is opened.

Please note you cannot change your interest frequency once your Account has been opened.

Do I pay tax on the interest i receive?

Interest is paid gross, without the deduction of Income tax

How do I make a complaint?

If you have a complaint, we want to know. In the first instance you should contact the Customer Service Centre on 0345 602 3409 or write to us at:

Post Office Money Customer Care
PO BOX 3191
Bristol. BS1 9HY

If you have made a complaint but are still not satisfied with the response the Financial Ombudsman Service may be of assistance and they can be contacted at:

Financial Ombudsman Service
Exchange Tower
Harbour Exchange Square
E14 9SR

Phone: 08000 234 567



If you would like full details of our Complaints Procedure, we will provide these to you on request.



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

Fixed: A fixed rate of interest remains the same and does not change for the duration of the term.

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

Nominated account: A nominated account is a current account that we link to your savings account. It should be a UK personal bank or building society account in your name(s) that accepts Direct Debits.

Online application is fast and secure

Other Post Office Money products you might be interested in

Post Office Money® ISAs are provided by OneFamily. Savings in Post Office Money cash ISAs are deposited with Bank of Ireland UK. All other Post Office Money savings accounts are provided by Bank of Ireland UK.

Growth Bond

Key features:

  • Deposit from £500-£1million


Fixed Rate Cash ISA

Key features:

  • Tax-free savings from just £500


Small print

Rates correct as at 28th July 2016.

About Post Office

Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is registered in England and Wales (No. 07022885). Registered office: Bow Bells House. 1 Bread Street, London, EC4M 9BE.

Post Office Limited is registered in England and Wales. Registered number 2154540. Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ. Post Office Money and the Post Office Money logo are registered trademarks of Post Office Limited.