NS&I’s Green Savings Bonds are back – but how do they compare?

Now paying an increased rate of 3.82% AER, NS&I’s Green Savings Bonds return to the market – but are they worth it?

Yesterday (8 April 2026) National Savings & Investments (NS&I) launched a new issue of its Green Savings Bonds paying an improved 3.82% AER over a three-year fixed term.

This is up from the 2.95% AER paid on the previous issue, which was last available in November 2025. The new rate of 3.82% AER is guaranteed for three years, and you can’t access your pot during this time. Note that all deposits invested into NS&I bonds are completely backed and guaranteed by the Government.

This increase brings the rate paid by Green Savings Bonds above the latest rate of inflation of 3%, but there are many savings accounts and ISAs currently on the market offering considerably higher rates.

NS&I typically reacts to any shifts in interest rates within the wider markets and times of economic crisis can prompt the provider to increase rates (and attract deposits) in a bid to support the economy, Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, explained.

“NS&I are a trusted brand and provide 100% capital security, so these bonds may still be appealing to savers with big pots who are happy to forgo higher interest rates available elsewhere,” she added.

Are they a good option compared to other green choices?

Money deposited into Green Savings Bonds helps to fund green Government projects across the UK. They’re used alongside gilts to raise money for green projects as a part of the UK Government’s Green Financing Framework – so can be an appealing choice for those looking for an eco-friendly savings option.

However, while this latest offering from NS&I is attractive, many of the top rate deals pay 4.50% or higher, Springall pointed out. These include accounts that have eco-friendly credentials.

“One deal which is a great choice for savers who want to be more ethical with their pots is from Tandem Bank, which pays a rate of 4.56% AER fixed for three years with its bond and 4.51% AER with its three-year fixed ISA. By opening an account, savers will be supporting Tandem Bank's green lending initiatives and helping to make UK homes more sustainable and environmentally friendly,” she highlighted.

Meanwhile, Castle Trust Bank and Gatehouse Bank also offer alternative green three-year fixed bonds and ISAs, with the providers planting a tree for each account opened and funded.

So, if the appeal of the NS&I Green Savings Bonds is their environmentally friendly hook, you may be able to find similarly eco-conscious deals at a higher rate when shopping around elsewhere.