NS&I to cut Premium Bonds prize rate, with fewer big money prizes
by Vicky Shaw
Jan 11, 2024
3 minutes
Fewer big money prizes will be available in NS&I’s Premium Bonds prize draw from March.
One finance expert described the announcement as “the biggest sign yet” that a rates bonanza enjoyed by savers in recent months is coming to an end.
Savings giant NS&I said the prize fund rate will be reduced, from 4.65% to 4.40% from the March 2024 draw.
The odds of any £1 Premium Bond number winning a prize will remain the same, at 21,000 to one.
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