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NS&I Launches Three-Year Fixed-Rate British Savings Bonds

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NS&I has officially launched the three-year fixed-rate British Savings Bonds, following the announcement by the Chancellor of the Exchequer in the Spring Budget. The Bonds consist of Guaranteed Growth Bonds and Guaranteed Income Bonds, offering investors fixed rates of 4.15% gross/AER and 4.07% gross/4.15% AER respectively.

The British Savings Bonds provide savers with a secure investment option ranging from £500 to £1 million. These Bonds are designed to promote a savings culture in the UK and offer funding for government initiatives, backed by HM Treasury. They are now available for purchase online at nsandi.com.

Bim Afolami, the Economic Secretary to the Treasury, expressed enthusiasm for the opportunity that the British Savings Bonds present to UK savers, highlighting the security provided by HM Treasury. The Bonds are expected to encourage long-term savings and contribute to government financing efforts as announced in the Spring Budget.

NS&I’s Chief Executive, Dax Harkins, emphasized the reliability and protection offered by the British Savings Bonds, assuring investors that their funds are 100% secure. The money invested in these Bonds will be directed towards supporting the UK through government financing initiatives, aligning with NS&I’s commitment to social and economic progress.

Following the Spring Budget announcement, NS&I has set a Net Financing target of £9 billion for 2024-25, indicating a strategic focus on financial stability and growth. The availability of the new British Savings Bonds is expected to contribute significantly to achieving this target and fostering a culture of secure, long-term savings.

Rachel Adams

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