Government-backed savings provider NS&I is to increase interest rates on its variable products from today (25 Oct).

Ian Ackerley, the CEO of government-backed savings provider NS&I, is to step down in March at the end of his second three-year term running the organisation. 

NS&I, the government’s savings arm, has today launched its eagerly-awaited new Green Savings Bond which will offer a gross rate of 0.65% fixed for 3 years.

NS&I, the government-backed savings provider, has promised better service after being overwhelmed by a surge in business in the second half of 2020 before it slashed its rates.