Growth Bonds allow you to put your money (min £500 - max £1,000,000) away for a fixed term and 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.
A Post Office Money Growth Bond can be opened by anyone aged 16 or over, and a UK resident for tax purposes. If you're under 16 you’ll need an adult who is either a parent, grandparent or legal guardian to open it for you.
How to Apply
Pickup a 'Post Office Growth Bond - application pack' from Steeple Claydon Post Office and fill in a few simple details. Hand the completed form over the counter along with your cash (max £1000) or cheque max £1,00,000) and that's it done. Simples!
I know it's a pain not to be able to invest more than £1,00,000 but we don't make the rules.