NS&I raising rates again

  • Premium Bonds prize fund rate increases to 4.65% from September draw – highest level since March 1999, adding £66 million to the prize fund

  • Premium Bonds odds to improve to 21,000 to 1 from 22,000 to 1 – their best level since the April 2008 prize draw

  • Interest rates for Income Bonds, Direct Saver, Direct ISA, Junior ISA and Investment Account to be increased from 18 August

Good news. Premium Bonds become increasingly good (or at least less bad) an option as interest rates increase and more and more people find themselves hitting the personal tax-free allowance.

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If you have £50k maybe.

My big money is all locked away now.

Seemed good idea at the time, when all the chatter was around fixed term rates peaking.

Another myth busted :man_facepalming::rofl: