NS&I has launched a new issue of its Green Savings Bonds at 1.3%.

The bonds will be fixed for three years.

The bond is available today.

The minimum investment is £100 and maximum is £100,000.

The first issue of the Green Bonds in October saw a rate of 0.65%.

Any money invested into the Green Savings Bonds will be used to pay for climate-friendly initiatives picked by the Government to “tackle climate change and help make the UK greener and more sustainable”.

They were created to help finance the Government’s environmental spending products.

Earlier this month NS&I also increased the interest rates on its Direct Saver and Income Bonds to 0.50%. 

The interest rate on Direct Saver and Income Bonds has increased by 15 basis points. Interest paid on both accounts will rise from 0.35% gross/AER to 0.50% gross/AER.

NS&I is the government-owned savings organisation and has 25m customers.