NS&I has updated the Green Savings Bonds section of its website, ahead of the savings product going on sale later this year. The new three-year fixed-term bonds will be available to buy online.
This includes insight into where customers’ money will go.
“All money invested in NS&I is passed onto HM Treasury and contributes towards government spending,” NS&I explained.
The savings provider went on to describe how the money will be put into a general account, with the equivalent amount invested from the Green Savings Bonds being allocated to the chosen green projects within two years.
“Money invested in Green Savings Bonds will also go to HM Treasury and be held in a general account,” NS&I said.
“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.”
Chancellor of the Exchequer Rishi Sunak announced the new green savings bonds earlier…
