NS&I -The UK government has launched a new Green Savings Bond, offering a fixed interest rate of 5.7% for three years.

This is a great opportunity for savers to earn a high rate of interest on their money while also helping to fund green projects.

The Treasury backs the Green Savings Bond, so your money is 100% safe. It is also available to everyone, regardless of your income or savings status.

To invest in the Green Savings Bond, you can open an account online or by calling NS&I. You can invest a minimum of £100 and a maximum of £100,000.

The interest on the Green Savings Bond is paid annually, and you will receive the total amount when the bond matures in three years.

The Bond is an excellent option if you are looking for a safe and high-paying savings account. You can help the environment while earning a great interest rate on your money.

Here are some of the key benefits of the NS&I Green Savings Bond:

  • Fixed interest rate of 5.7% for three years: This is very competitive, especially for a fixed-term savings account.
  • Backed by the Treasury: Your money is 100% safe with the  Savings Bond.
  • Available to everyone: You can invest in the Bond regardless of income or savings status.
  • Easy to open an account: You can open an account online or by calling NS&I.
  • No fees: There are no fees to open the account.

The Bond is an excellent option if you are looking for a safe and high-paying savings account.

Switching accounts for a better interest rate

You can help the environment while earning a great interest rate on your money.

Here are some of the things to consider before investing in the NS&I Green Savings Bond:

  • The interest is taxable: The interest earned on the Bond is taxable, so you may have to pay tax on your returns.
  • The bond is locked away for three years: You cannot withdraw your money from the bond before it matures in three years.
  • The interest rate is not guaranteed: It is fixed for three years but could change in the future.

However, if you are unsure whether you will need to access your money in the next three years or are not comfortable with your money being locked away with the idea, consider other savings options.

Please reach out to us today if you’d like to discuss the advantages & disadvantages further.