New Issue for Green Savings Bonds at 5.70% gross/AER


  • A fifth Issue of Green Savings Bonds is released today at a fixed-rate of 5.70% gross/AER over a three-year term
  • Money invested in Green Savings Bonds continues to help finance green projects as part of the UK Government Green Financing Framework

A new Issue of NS&I’s Green Savings Bonds has been released today paying 5.70% gross/AER fixed-rate over a three-year term. Savers putting money into Green Savings Bonds will be helping fund vital green projects across the UK as part of the UK Government Green Financing Framework.

Dax Harkins, NS&I Chief Executive, said: “I’m really pleased that we can offer a new Issue of our Green Savings Bonds at a higher rate from today. This is a great opportunity for savers who want to see a guaranteed return on their investment while also making a difference with their savings by helping to make the world greener, cleaner and more sustainable.”

The projects funded through Green Savings Bonds 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. The first Issue of Green Savings Bonds went on sale on 22 October 2021. Since then more than £915 million has been invested in them.

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aged 16 or over to purchase the Bonds from NS&I. The full amount deposited will be held for three years and cannot be withdrawn during this time.


Previous interest rate (from 7 February 2023)

New interest rate from 22 August 2023 (change in brackets)

Green Savings Bonds (3-year fixed term)

4.20% gross/AER

5.70% gross/AER (+1.50 percentage points)

Key features of Green Savings Bonds are as follows:

  • 3-year fixed term with an interest rate of 5.70% 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.
  • The minimum investment in Green Savings Bonds is £100 with a maximum limit of £100,000 per person per Issue. Investors in previous Issues can invest in subsequent Issues. Investments can be made individually or jointly.
  • Available to purchase and manage online at com
  • 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 may need 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

  • More information on the projects funded through Green Savings Bonds can be found at com/green or search ‘UK Government green financing’.

The Bond is available to purchase online at

Notes to Editors

  • NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to more than 24 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
  • Announced in the 2021 Spring Budget, Green Savings Bonds are a specific policy measure and are distinct from NS&I’s normal activity. Investment in this product will not count towards NS&I’s Net Financing target.
  • The first Issue of Green Savings Bonds went on sale on 22 October 2021.
  • As of 31 March 2023 more than £915 million has been invested in Green Savings Bonds, compared to £288 million at the same point the year before.
  • For more information about Green Savings Bonds, visit
  • The Green Savings Bonds are issued under the same UK Government Green Financing Framework as the UK’s green gilt programme. The Framework document provides further details of the UK’s plans in this space, including the types of expenditures to be financed, and can be accessed here.
  • NS&I is committed to ensuring that all customers, including those who do not have access to online services, can invest in Green Savings Bonds. Customers who do not have access to the internet should call 08085 007 007. Call centre staff have been trained to help customers who are unable to transact online.
  • The Carbon Trust provided a pre-issuance impact assessment of the UK government green financing programme, which includes NS&I’s Green Savings Bonds. They found that the allocations ‘align sensibly’ with the Climate Change Committee’s recommended climate targets for the UK (known as its ‘Sixth Carbon Budget’) and they are ‘confident that the programme will contribute to achieving net zero by 2050’. You can read more about The Carbon Trust’s assessment here.
  • AER stands for Annual Equivalent Rate and enables the comparison of interest rates from different financial institutions and across different products on a like-for-like basis. It shows what the notional annual rate would be if interest was compounded each time it was credited or paid out. Where interest is credited once a year, the rate quoted and the AER will be the same.
  • Gross is the taxable rate of interest without the deduction of UK Income Tax.


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