One of the UK’s largest savings organisations

Millions of pounds more in Premium Bonds prizes will be up for grabs from next month as NS&I increases the prize fund rate from 1.40% to 2.20%, adding an expected £76 million to the prize fund for October. The changes will see the number of £5,000, £10,000, £25,000, £50,000 and £100,000 prizes almost double. There will also be 19 times as many £50 and £100 prizes paid out from October. The odds of each £1 Premium Bond number winning a prize will also improve from 24,500 to 1 to 24,000 to 1.

NS&I today announced that its Chief Executive, Ian Ackerley, has decided to step down in March 2023 at the end of his second three-year term running the organisation. Ian joined NS&I in 2017 after a successful career in the private sector.