Premium Bonds
1.00% annual prize fund rate
Invest from £25 to £50,000
Direct Saver
0.35%
Invest from £1 to £2 million
Direct ISA
0.35%
Invest from £1 to £20,000 tax year 2021/22
Green Savings Bonds
Go green with our new fixed-rate, fixed-term Bonds.
Essentials at a glance
- What's the interest rate?
- 0.65% gross/AER, fixed for 3 years
- Can I take money out?
- No, not until the Bond reaches the end of its term
- Is the interest taxable?
- Yes, in the tax year your Bond matures
- How much can I start with?
- £100
- What’s the max. I can save?
- £100,000 per person
Great for you if …
- You want a guaranteed interest rate, fixed for three years
- You have £100 or more to invest
- You want your savings to contribute towards green projects
Maybe not for you if …
- You want access to your money during the term
- You prefer to manage the account by post
- You want to invest in trust
Green Savings Bonds FAQs
-
When you invest in Green Savings Bonds, your savings will be contributing to green projects chosen by the Government.
HM Treasury plans to allocate an amount equivalent to the funds raised from Green Savings Bonds, to its chosen green projects, within two years.
The Government will publish details about how the money is being spent and what the environmental benefits are, so you can see the difference you’re making.
Green Savings Bonds is also an ‘online only’ account, meaning you’ll need to invest and manage your Bonds online. This means we'll send out less paper.
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Yes! Just fill out a quick online form and we’ll get it sorted for you. Be sure to have the details of the account you want to switch from to hand.
Switch to Green Savings Bonds – individual account
Only use if switching from another NS&I account or investment
Switch to Green Savings Bonds – joint account
Only use if switching from another NS&I account or investment
Prefer the post?
It will take a bit longer, but you can still download and send us a paper form in the post.
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Our Green Savings Bonds are designed to invest and manage online. However, if you cannot invest online please call us and we’ll let you know your options.
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All money invested in NS&I is passed onto HM Treasury and contributes towards government spending. Money invested in Green Savings Bonds will also go to HM Treasury and be held in a general account. HM Treasury then plans to allocate an amount equivalent to the proceeds raised from Green Savings Bonds, to its chosen green projects, within two years.
The Government will publish details about how the money is being spent and what the environmental benefits are, so you can see the difference you’re making. Learn more about the key areas the Government are planning to spend your money on:
https://www.gov.uk/government/publications/uk-government-green-financing
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The interest you earn on Green Savings Bonds will count towards your taxable income in the tax year your Bond matures. But this doesn’t mean you’ll have to pay tax on it. It all depends how much interest you earn in total and what rate of tax you pay. You can find out more in our Help section.
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No. Once you invest, you won’t be able to access your money until your Bond reaches the end of its term, but in return you’ll be guaranteed a fixed rate of interest for three years.
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If you change your mind, you can cancel within 30 days of receiving confirmation of your Bond. You’ll need to tell us if you want to cancel your Bond before the expiry of 30 days. You can do this online or by phone, or you can write to us.
You will receive a refund of any money paid to NS&I to buy a Green Savings Bond, plus any interest earned, within 14 days of cancellation.
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We’ll ask you as part of your application if you’d like to save with someone else. You’ll each get your own login details so you can manage your account.
Applying for Green Savings Bonds
- Before you apply
-
Please read the summary box and customer agreement (below).
- What you'll need
-
- Your NS&I number (if you have one)
- Your address and date of birth
- Your UK bank account details registered to your current address
- Your UK debit card
If applying jointly, you’ll also need the following info from the second investor:
- Their NS&I number (if they have one)
- Their address and date of birth
- What happens next
-
We’ll process your application and aim to open your account in 7-10 working days. If applying jointly, we’ll contact the second investor by post.
We'll need to check the identity and address of everyone named on the application. To do this, we may ask you to upload or send us some documents.
Documents that prove your identity and address
Summary box
- Account name
-
NS&I Green Savings Bonds
- What's the interest rate?
-
3-year term, Issue 1
0.65% gross/AER
We calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
-
No, you’ll receive the rate on offer at the time you invest and that rate will be fixed for the 3-year term.
-
What would the estimated balance be after 12 months based on a £1,000 deposit?
-
A £1,000 deposit would be worth £1,019.62 at the end of the 3-year term.
This is an illustration only, so it doesn’t take into account your individual circumstances.
- How do I open and manage my account?
-
Our Green Savings Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Green Savings Bonds online only
- invest at least £100, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £100,000 per person
If you want to switch to Green Savings Bonds from another NS&I account or investment, visit:
or
- Can I withdraw money?
-
No, Green Savings Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
-
We add your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance in the tax year that your Bond matures.
Find out more about tax and savings
We’ll send you a statement in April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
-
Gross is the taxable rate of interest without the deduction of UK Income Tax.
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.
Please make sure you’ve read our summary box and the customer agreement before applying.
Apply nowSwitch to a Green Savings Bond
Please read the below Summary Box below before switching to this account as an individual.
Summary box
- Account name
-
NS&I Green Saving Bonds
- What's the interest rate?
-
3-year term, Issue 1
0.65% gross/AER
We calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
-
No, you’ll receive the rate on offer at the time you invest and that rate will be fixed for the 3-year term.
-
What would the estimated balance be after 12 months based on a £1,000 deposit?
-
A £1,000 deposit would be worth £1,019.62 at the end of the 3-year term.
This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
- How do I open and manage my account?
-
Our Green Savings Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Green Savings Bonds online only
- invest at least £100, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £100,000 per person
If you want to switch to Green Savings Bonds from another NS&I account or investment, visit:
or
- Can I withdraw money?
-
No, Green Savings Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
-
We add your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.
Find out more about tax and savings
We’ll send you a statement in April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
-
Gross is the taxable rate of interest without the deduction of UK Income Tax.
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.
Please make sure you’ve read our summary box above and the customer agreement before applying.
You’ll need the following information to hand:
- your NS&I number (if you have one)
- the type of account you’re switching from
- the associated account or holder’s number
Switch to a Green Savings Bond
Please read the below Summary Box below before switching to this joint account.
Summary box
- Account name
-
NS&I Green Saving Bonds
- What's the interest rate?
-
3-year term, Issue 1
0.65% gross/AER
We calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
-
No, you’ll receive the rate on offer at the time you invest and that rate will be fixed for the 3-year term.
-
What would the estimated balance be after 12 months based on a £1,000 deposit?
-
A £1,000 deposit would be worth £1,019.62 at the end of the 3-year term.
This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
- How do I open and manage my account?
-
Our Green Savings Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Green Savings Bonds online only
- invest at least £100, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £100,000 per person
If you want to switch to Green Savings Bonds from another NS&I account or investment, visit:
or
- Can I withdraw money?
-
No, Green Savings Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
-
We add your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.
Find out more about tax and savings
We’ll send you a statement in April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
-
Gross is the taxable rate of interest without the deduction of UK Income Tax.
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.
Please make sure you’ve read our summary box above and the customer agreement before applying.
You’ll need the following information to hand:
- your NS&I number (if you have one)
- the type of account you’re switching from
- the associated account or holder’s number
Top up your Green Savings Bonds
If you already have an account with us, you can top it up whenever you like.
- Top up by bank transfer
-
When you pay by bank transfer, you're confirming your bank account is a UK account in your name.
- Reference:
- You must enter your Green Savings Bonds account number (not your NS&I number) as the reference. You can find your account number on your statement or by logging in online.
- Type of account:
- Your bank may ask you what type of account you’re paying in to. Please select ‘business’.
- Payee name:
- NS&I
- Account number:
- 11994808
- Sort code:
- 08 31 35
Please make sure you've set up your account before transferring money via your bank.
When you set up your payment, you may receive a message saying 'This account can't be checked' or something similar. This doesn't mean the details you are using are wrong but please check them carefully.
Topped up by bank transfer or standing order? You’ll be able to see the money in your account in 2-3 working days.
For more information on topping up by bank transfer see our FAQs
- Top up by debit card
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Top up your Green Savings Bonds using your debit card
Ready to apply?
We’ll show you the Green Savings Bonds summary box and ask you to read our customer agreement.
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