July 1, 2021, 12:04 am
Green savings bonds, allowing savers to help finance initiatives tackling climate change, will be launched by NS&I later this year (NS&I/PA)
Green savings bonds, allowing savers to help finance initiatives tackling climate change, will be launched by NS&I later this year.
The bonds, announced in the 2021 Budget, will be available to buy online at nsandi.com.
They will be available at a fixed rate for a three-year term and money invested will help to finance green projects chosen by the Government.
Projects 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.
NS&I to launch Green Savings Bonds | Money Marketing
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Green bonds: What s the rate, term and when are they available?
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Many of us will have paid little attention to NS&I s announcement last year that its savers would no longer receive cheques in the post for its prize draw winnings.
But then again, many of us are adept at using the internet and have no qualms using a website to submit our bank details.
And, on paper, it seemed like a smart idea streamline the prize payments system and save lots of paper and money in the process.
Convenient: But receiving a cheque in the post was part of the charm and the attraction of Premium Bonds and many older savers are not comfortable using apps or the internet