Premium Bonds

Premium Bonds now offer the highest potential returns in more than a decade but savers can still get a better return from a market-leading savings account.

For most savers, it is still worth shopping around to get the best possible return on your money.” “As savings rates rise, more will exceed the PSA and pay tax,” she said. That is more than triple the rate it paid this time last year. The PSA allows basic rate tax payers to earn £1,000 of savings interest a year before paying income tax, while higher rate taxpayers can earn £500. Yet it is possible to get a superior return from a standard savings account. They face a tough choice. Although best buy savings rates have dipped a little in recent weeks, it is still possible to get a higher return on deposit by locking you money away for a set period. [Shawbrook Bank](https://www.shawbrook.co.uk/direct/savings/personal-savings/fixed-rate-bonds/) offers a market-leading fixed rate of 3.95 percent for one year and 4.10 percent a year for two years, while [SmartSave](https://smartsavebank.co.uk/3-year-fixed-rate-saver) pays best buy 4.56 percent for three years. The Premium Bond prize rate has increased for the fourth time in a year to hit a 14-year high of 3.15 percent. The Premium Bonds prize fund rate, the annual return savers get with average luck, increases from 3 percent to 3.15 percent, starting from the February prize draw. The latest increase makes the monthly draw a lot more exciting, with more prizes ranging from £50 to £100,000. Premium Bonds now offer the highest potential returns in more than a decade but savers can still get a better return from a market-leading savings account.

Premium Bond savers are set for major payouts after National Savings & Investments (NS&I) raised its prize fund to 3.15 per cent starting from its draw next ...

It’s the latest move from the Government-backed bank to hit its financing targets. It is the highest rate since 2008. Check the winning bonds each month with our The total of £25,000 prizes increases by 12 to 236, while there will be 117 winners of £50,000, up from 111. The number of £500 prizes will rise to 37,719 while it will pay 605 more £1,000 prizes, a total of 12,573. The number of £5,000 prizes will rise by 61 to 1,177 while there will be 31 extra £10,000 pay outs, up to 590. This time round the number of £25 prizes drops by 241,741 to 2.37 million from 2.6 million in this month’s draw. The largest increase for next month comes in prizes of £50 and £100, both up 121,077 to 1.28 million apiece. At the halfway stage to the end of September, it had reached a total of £3.4 billion. The changes mean that the number of prizes worth £50 to £100,000 will increase from next month's draw on February 2. - Number of prizes ranging from £50 to £100k will rise from next month's draw The odds of each £1 Bond winning a prize will remain fixed at 24,000 to 1, but more prizes above £50 will be paid out.

National Savings & Investments (NS&I) has increased the prize fund on Premium Bonds to 3.15 percent beginning with next week's draw, which will.

This time around, the number of £25 prizes decreases by 241,741 to 2.37 million from this month’s total of 2.6 million. It is the most recent effort by the government-backed bank to meet its financing goals. A year ago, it paid only 0.35 percent, with a low of 0.01 percent for the 12 months leading up to November 2021. The number of £5,000 prizes will increase by 61 to 1,177, while the number of £10,000 awards will increase by 31 to 590. The number of £500 prizes will increase to 37,719, while the number of £1,000 awards will increase by 605 for a total of 12,573. The total number of £25,000 awards climbs by 12 to 236 while the number of £50,000 winners rises from 111 to 117. January value of awards and number of prizes The prizes of £50 and £100 will grow the most for the following month, by 121,077 to 1.28 million each. With the adjustments, the number of prizes ranging from £50 to £100,000 will increase beginning with the February 2 drawing. The number of £25 cash prizes will be reduced as part of NS&I’s plan to reduce lesser prizes while increasing larger ones. The most recent increase adds £15 million to the total amount of awards awarded, increasing the total to £314.3 million. The odds of winning a prize for each £1 Bond will remain constant at 24,000 to 1.

The boost from next month comes as analysts warn the peak in savings rates may be approaching.

Parents are being encouraged to save more for their children's future with National Savings & Investments increasing rates on junior cash Isas (Jisas) above ...

For a full comparison of Standard and Premium Digital, click here. You'll enjoy access to several newsletters including FirstFT, a daily newsletter with the global stories you need to know as well as Editor's Choice, a weekly newsletter featuring the editor's favourite stories. Access our essential offering with over 600 journalists in 50+ countries covering markets, politics, business, tech and more.

The boost from next month comes as analysts warn the peak in savings rates may be approaching.

Next month's changes will mean, for example, that there are an estimated 59 prizes of £100,000 available, up from 56 in January. In turn, that would slow, or end, the improving returns for savers. Although, some variable, easy-access accounts might still raise returns, overall activity among providers was likely to slow. The rate of inflation is predicted to slow significantly by the end of the year, which means that activity in the savings arena is starting to diminish. A slowdown in the inflation rate, which charts the rising cost of living, means economists predict the Bank of England may slow the pace of interest rate rises. The number of wins of some Premium Bond prizes will increase from next month, pushing the prize fund rate to its highest level for 14 years.

Premium Bond savers are set for major payouts after National Savings & Investments (NS&I) raised its prize fund to 3.15 per cent starting from its draw next ...

PREMIUM BOND holders now have a greater chance of a win after National Savings and Investments (NS&I) upped the prize fund rate from 3 to 3.15 per.

The bonds are the UK’s biggest savings product, with more than 21 million participants investing £119 billion (approximately €137 billion) in them. PREMIUM BOND holders now have a greater chance of a win after National Savings and Investments (NS&I) upped the prize fund rate from 3 to 3.15 per cent. More chance of winning a prize with the UK’s Premium Bonds

The Premium Bonds prize rate is set to increase to its highest level for 14 years in February.

Currently the NS&I prize rate sits at 56 prizes of £100,000. Here’s everything you need to know about the latest prize rate increase. It will mark the highest level of prize rate for the savings scheme in 14 years.

The Premium Bonds draw just got bigger after National Savings and Investments (NS&I) increased the prize fund rate.

“The higher prize rate has come alongside a rebalancing of the prizes. Yesterday NS&I announced the Premium Bonds prize fund rate will rise to 3.15 percent from February. - £50 - 1,280,509 - £25 - 2,376,161 - £100 - 1,280,509 - £1million - two