NS&I raises its Green Savings Bonds rate to 4.73% but it STILL trails its own British Savings Bonds

NS&I has raised the rate on its Green Savings Bonds to 4.73%, up from 4.45%, though savers must commit their money for three years with no access during that period. Sarah Coles of AJ Bell warned that rising rates elsewhere had been 'leaving Green Savings Bonds in the dust'. The Treasury-backed provider's British Savings Bonds pay 5.1% over the same term. Money raised is channelled into environmentally focused government initiatives throughout the UK.

Savers can invest from £100 up to £100,000 per person in each issue.

Buyers must be aged 16 or over, and the bonds have been on offer since 2021.

NS&I retail director Andrew Westhead promised 'guaranteed returns' for savers.