NS&I has increased interest rates on savings plus ‘bigger Premium Bonds prize pot | Personal Finance | Finance
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The change to the Premium Bonds prize fund rate is the third upwards change that NS&I has made this year, with the prize fund rate tripling from the 1.00 percent it was in May 2022. The changes will see the January 2023 prize fund hit an expected £299,572,750.
While the odds will stay fixed at 24,000 to one, the changes mean that customers will have more opportunities each month to win high-value prizes, with more than three times as many prizes worth £100,000, £50,000, £25,000, £10,000 and £5,000 available.
Instead of earning interest, Premium Bondssavers have the chance to win prizes.
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