Online Bond

  • Start saving today: open your bond with just £500
  • Choice of terms: save for one, two or three years

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

How it

Up to 2.33% gross/AER fixed

It’s quick and easy to open an Online Bond and start earning interest on your savings.

Anyone over the age of 18 who is UK resident and resident in the UK for tax purposes can apply and you can have as many Online Bonds as you like.

Relax in the knowledge your interest rate won’t change during the fixed term. 

Please note: After the bond is opened you won’t be able to close your account and access your money unless it’s due to exceptional circumstances and a breakage fee may apply. If the interest you’ve earned doesn’t cover this, you may get back less than you put in.

Manage your account online, check your balance and watch your savings grow.

Choose when you receive your interest – annually on the anniversary of bond opening or monthly based on the date the bond was opened. The minimum investment in the bond is £500.

Fixed term Annual interest Monthly interest
1 year 2.01% gross/AER fixed 1.99% gross/2.01% AER fixed
2 years 2.31% gross/AER fixed 2.28% gross/2.31% AER fixed
3 years 2.33% gross/AER fixed 2.30% gross/2.33% AER fixed
Is this right
for you?
Right for you if
  • You’re happy to leave your money untouched for a fixed term
  • You want the flexibility of choosing either monthly or annual interest payments
  • You want to know exactly what interest you’ll earn on your savings
Try something else if
  • You want to be able to withdraw your savings when you need them
  • You want to be able to add additional deposits to your savings
  • You're not happy to manage your savings online

Not the right account for you? Check out our Instant Saver, Premier Cash ISA and Fixed Rate Cash ISA accounts

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

How to apply

Our online application form is quick and easy to complete.

1. Before you apply, check you meet our eligibility criteria:

  • You’re a UK resident, resident in the UK for tax purposes and aged 18 or over. This does not include the Channel Islands and the Isle of Man. The account is not open to trustees, charities, clubs, associations, companies, limited liability partnerships, partnerships nor may it be used for business purposes.
  •  You can save at least £500 for the term of your choice.
  •  You’ve got a valid email address.

2. Complete our simple online application

In most cases your account will be opened and your account number provided instantly at the end of the application process. You can also see how to apply under a Power of Attorney here.

Once you’ve submitted an online application we’ll send you a confirmation email telling you about the next steps. If we can’t verify your identity and/or address electronically we will ask you to post us some documentation to help us complete our checks and open your account.

3. Once your account is open

If you are an existing online banking service user you can log in immediately using your existing log-in details. If you are a new customer or don’t use our online banking service we’ll post you a user ID and 6 digit security number (separately). You should receive both of these within 4 business days and, once you have them, you’ll be able to log-in and manage your account.



Summary Box

Key product information for our Online Bond Savings Account

Account name Online Bond (Issue 19)
Interest rates (AERs) 1 Year term: Annual interest option: 2.01% gross/AER fixed. Monthly interest option: 1.99% gross/2.01% AER fixed
2 Year term: Annual interest option: 2.31% gross/AER fixed. Monthly interest option: 2.28% gross/2.31% AER fixed
3 Year term: Annual interest option: 2.33% gross/AER fixed. Monthly interest option: 2.30% gross/2.33% AER fixed
Tax status Interest will be paid after the deduction of tax at the prevailing rate, unless instructed otherwise.
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.



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.

Small print

Rates correct as at 29 September 2015

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 Authority.  Bank of Ireland (UK) plc is entered on the Financial Services Register and its Register number is 512956. 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.