NS&I raising rates again

Banking Personal Banking
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  • 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

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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.

1 Like
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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: