NS&I has put on sale today a new Issue of its Green Savings Bonds with an increased interest rate of 4.73% gross/AER fixed-rate over a three-year fixed term, up from 4.45%.
Money raised by the Green Savings Bonds is invested in green finance projects as part of the Government’s Green Financing Framework.
Green Savings Bonds were first launched in 2021 to help fund green government projects across the UK. Green Savings Bonds are separate to NS&I’s Net Financing target set by the Treasury.
The minimum investment in Green Savings Bonds is £100, with a maximum limit of £100,000 per person for each Issue. Investors need to be aged 16 or over to purchase the Bonds. The full amount deposited will be held for three years and cannot be withdrawn during this time.
Green Savings Bonds are used alongside gilts to raise funds for green projects as part of the UK Government Green Financing Framework.
Andrew Westhead, NS&I retail director, said: "Green Savings Bonds provide savers with guaranteed returns while supporting green government projects across the UK.
“I am pleased that we've been able to offer savers looking to support green projects an improved rate of 4.73% gross/AER on new Bonds on sale from today.”
British Savings Bonds offer investors a guaranteed interest rate for fixed terms of 1, 2, 3 or 5 years. Funds cannot be withdrawn early.
The minimum investment is £500, with a maximum investment of £1m.