NS&I doubles yield on flagship green bond to 3% to boost green savers
Environmentally Friendly NS&I has more than doubled the rate on its flagship green bond, giving savers a much-needed boost.
National Savings and Investments (NS&I) yesterday launched a new issuance of three-year green savings bonds at a competitive 3%.
But the move risks angering the thousands of savers who locked themselves in their accounts when they offered a three-year fixed rate of just 1.3% in February.
Rate Hike: National Savings and Investments yesterday launched a new issuance of three-year Green Savings Bonds at a competitive 3%.
And those who signed up for the first issue last October were tied for an even more dismal 0.65%.
The Treasury-backed bank’s latest offering falls short of the market’s highest three-year interest rate at just under 3.5%.
It also falls short of the best one-year contract available from Atom Bank, which offers an interest rate of 3.2%, experts say.
As of March 31, 2022, approximately 11,000 customers have invested in NS&I’s green savings bonds.
To sign up for the latest offering, savers will need to invest a minimum of £100. The maximum deposit amount is £100,000.