As announced in the recent Budget, 3-year fixed-rate British Savings Bonds are now on sale at 4.15% gross/AER by NS&I
The three-year fixed-rate British Savings Bonds announced by the Chancellor of the Exchequer in the Spring Budget are now on sale, reported NS&I this morning. The Guaranteed Growth Bond option is available at 4.15% gross/AER and the Guaranteed Income Bond is 4.07% gross/4.15% AER.
British Savings Bonds are new three-year fixed-rate Issues of NS&I’s Guaranteed Growth Bonds and Guaranteed Income Bonds. They offer savers a guaranteed interest rate fixed over three years for investments between £500 and £1 million. The intention is for the new British Savings Bonds to be available for an extended period of time. They are available to purchase online at nsandi.com.
Like all savings from NS&I, money invested into British Savings Bonds will be 100% secure, backed by HM Treasury, and invested back into supporting the UK through government financing.
Bim Afolami, Economic Secretary to the Treasury, said:
“This is a new opportunity for UK savers to benefit from the three-year fixed-rate British Savings Bonds knowing that their money is fully protected by HM Treasury. The Bonds will help to grow the savings culture in the UK while providing cost-effective financing for the government.”
NS&I Chief Executive, Dax Harkins, said:
“British Savings Bonds are there to help people save for the longer term and support their savings goals, safe in the knowledge that their investments are 100% protected. As with all savings with NS&I, money is invested back into supporting the UK through government financing.”
In the Spring Budget it was announced that NS&I’s Net Financing target for 2024-25 has increased to £9 billion (in a range of +/- £4 billion either side of this target).
