- New Green Savings Bonds from NS&I now available at 0.65% gross/AER fixed rate over a three-year term
- Money invested in Green Savings Bonds will help finance green projects selected by the Government
- Available from Friday 22 October 2021 and on sale for at least three months
- Bonds available to purchase and manage online at nsandi.com
NS&I has announced today that the new Green Savings Bonds announced by the Chancellor of the Exchequer in the 2021 Spring Budget are available to purchase online with a 0.65% gross/AER fixed-rate over a three-year term at nsandi.com from Friday 22 October.
Green Savings Bonds will be on sale for a minimum period of three months. The minimum investment is £100 with a maximum limit of £100,000 per person and investors need to be aged 16 or over to purchase the new Bonds from NS&I. The full amount deposited will be held for three years and cannot be withdrawn during this time. Green Savings Bonds will help finance the Government’s green spending projects designed to tackle climate change and help make the UK greener and more sustainable. These projects will include making transport greener, using renewable energy over fossil fuels, preventing pollution, using energy more efficiently, protecting natural resources and adapting to a changing climate. More information can be found at nsandi.com/green
The Chancellor Rishi Sunak said: “Our world-first Green Savings Bonds give savers across the UK the chance to back the Government’s green projects and put their money to work in the fight against climate change.
“The UK is already a world leader in green finance and these innovative new savings bonds will deliver both financial returns and environmental benefits, in a transparent and secure way.”
Ian Ackerley, NS&I Chief Executive, said: “We are proud to be offering Green Savings Bonds on behalf of the Government. Green Savings Bonds will offer savers the chance to contribute towards the UK’s green agenda and support six key areas to help make our environment greener, cleaner and more sustainable. As well as helping the environment, savers will see a fixed return on their investment and will also benefit from NS&I’s 100% security on all capital invested.
“Green Savings Bonds will be on sale for at least three months, giving savers ample opportunity to invest and the Bonds will be available to purchase and manage online.”
Key features of the Bonds are as follows:
- 3-year fixed term with an interest rate of 0.65% gross/AER.
- Designed to be held for the whole term, but with a cooling-off period in the first 30 days of investment.
- Access to your investment after three years.
- Open to savers aged 16 and over.
- Available to purchase and manage online at nsandi.com
- Investment limits apply: minimum of £100 and maximum of £100,000 per person and can be made individually or jointly.
- Customers must have a UK bank account capable of receiving BACS payments.
- Fixed rate is guaranteed for the whole term. Interest is earned daily and added once a year on the investment’s anniversary, and paid on maturity.
- Interest is earned without deducting any tax at source. Interest is taxable at maturity and will count towards the customer’s Personal Savings Allowance and needs to be declared by the individual. Customers who are concerned about how this might affect them should consider either contacting HMRC or seeking professional advice.