It means more wins across the board. More £25 prizes. More £50 prizes. Even the big ones—yes, the million-pound jackpots—get a tiny boost. Are you going to get rich overnight? Probably not.
But think about it. If you have £50,000 in bonds, your chances of winning something each month just got noticeably higher. It’s like finding an extra chocolate in the Advent calendar. Small, but delightful.
And here’s the kicker. They didn’t just tweak Premium Bonds. Oh no. They also raised rates on their savings accounts. Their Direct Saver and Income Bonds now pay 3.50% AER. Not earth-shattering, but solid.
Savings accounts? Wait, NS&I does those?
Yes! They’re the boring, reliable sibling of Premium Bonds. No flashy prizes. Just guaranteed interest. And 3.50% is actually competitive right now. Better than many high street banks, especially if you have a chunk of cash.
Why does this matter? Because NS&I is backed by the government. Your savings are 100% safe, no matter what. No FSCS limit headaches. It’s like stuffing cash under a mattress, but with a digital interface and actual interest.
Let’s be real for a second. Inflation is still a beast. 3.50% won’t beat it entirely. But it’s a lot better than the 0.5% some accounts still offer. Seriously, check your old bank account. You might cry.
