National Savings and Investments

2-year Fixed Interest National Savings Certificates - New Issue

38th Issue 2-year Fixed Interest Savings Certificates went on sale on 24 October 2007. A Certificate will grow in value at a guaranteed rate each year as follows:

	Year 1		3.50%
	Year 2		3.71%

If a Certificate is held for two years, these rates will give a tax-free and guaranteed return equal to 3.60% pa compound.

5-year Fixed Interest National Savings Certificates - New Issue

87th Issue 5-year Fixed Interest Savings Certificates went on sale on 24 October 2007. A Certificate will grow in value at a guaranteed rate each year as follows:

	Year 1		3.10%
	Year 2		3.20%
	Year 3		3.40%
	Year 4		3.70%
	Year 5		4.11%

If a Certificate is held for five years, these rates will give a tax-free and guaranteed return equal to 3.50% pa compound.

National Savings and Investments Children’s Bonus Bonds - New Issue

Issue 25 Children’s Bonus Bonds went on sale on 24 October 2007. For the first five years each £25 unit will earn interest at 3.05% pa compound. On the fifth anniversary of purchase it also earns a bonus of £2.18 (8.72% of purchase price). At these rates a Bond will earn a tax-free return equal to 4.55% pa compound over the first five years.

National Savings and Investments Capital Bonds – New Series

Series 29 Capital Bonds went on sale on 24 October 2007. A Bond will grow in value at a guaranteed gross rate each year as follows:

	Year 1		4.15%
	Year 2		4.45%
	Year 3		4.75%
	Year 4		5.05%
	Year 5		5.36%

If a Bond is held for five years, these rates will give a guaranteed return equal to 4.75% pa compound. The interest is credited gross and is taxable.

National Savings and Investments Fixed Rate Savings Bonds - New Issues

New Issues of Fixed Rate Savings Bonds went on sale on 24 October 2007 as shown in the table below. The rate of interest earned by a Bond will be determined by its capital value at any time – the original investment plus any interest added to the Bond less any repayments. The rate is determined by whether the interest is paid monthly or at maturity. Interest is paid net of tax.

Term	Capital value	Gross Annual Rates
	of Bond	Annual interest	Monthly interest
	option	option
1-year	£500 to £19,999.99	4.80%	4.70%
Issue 38	£20,000 to £49,999.99	4.95%	4.85%
	£50,000 and above	5.15%	5.05%
3-year	£500 to £19,999.99	4.65%	4.55%
Issue 32	£20,000 to £49,999.99	4.80%	4.70%
	£50,000 and above	5.00%	4.90%
5-year	£500 to £19,999.99	4.55%	4.45%
Issue 29	£20,000 to £49,999.99	4.70%	4.60%
	£50,000 and above	4.90%	4.80%

National Savings and Investments Pensioners Guaranteed Income Bonds 1-year Term - New Series

Series 36 1-year Pensioners Guaranteed Income Bonds went on sale on 24 October 2007. The interest rate, fixed and guaranteed for the first year a Bond is held, is 4.95% pa gross. The interest is paid gross and is taxable.

National Savings and Investments Pensioners Guaranteed Income Bonds 2-year Term - New Series

Series 42 2-year Pensioners Guaranteed Income Bonds went on sale on 24 October 2007. The interest rate, fixed and guaranteed for the first two years a Bond is held, is 4.85% pa gross. The interest is paid gross and is taxable.

National Savings and Investments Pensioners Guaranteed Income Bonds 5-year Term - New Series

Series 50 5-year Pensioners Guaranteed Income Bonds went on sale on 24 October 2007. The interest rate, fixed and guaranteed for the first five years a Bond is held, is 4.70% pa gross. The interest is paid gross and is taxable.

Issued by National Savings and Investments on behalf of the Treasury.