NS&I PROVISIONAL Q2 2020-21 RESULTS

Q2 2020-21 Net Financing of £23.8 billion Half-year Net Financing total of £38.3 billion, against a whole-year target of £35 billion, in a range of £30 billion to £40 billion NS&I today published its unaudited quarterly results for the second quarter (July-September 2020) of the financial year 2020-21. NS&I delivered £23.8 billion of Net Financing in Q2 2020-21, giving a year-to-date total of £38.3 billion.

NS&I TO REDUCE INTEREST RATES FROM 24 NOVEMBER 2020

NS&I must strike a balance between the interests of savers, taxpayers and the broader financial services sector. Changes will ensure NS&I’s interest rates are aligned appropriately against those of competitors. Interest rate reductions will apply to variable rate and some fixed term savings products, effective from 24 November 2020 – with changes to the Premium Bonds prize-fund rate effective for the December 2020 prize draw. NS&I today announced interest rate reductions,…

NS&I TO PAY ALL PREMIUM BONDS PRIZES DIRECT TO CUSTOMERS’ BANK ACCOUNTS

Premium Bonds paper prize cheques will be phased out from December 2020. Premium Bonds holders that still receive paper warrants need to take action to ensure they continue to automatically receive payment of their prizes. Customers can also choose to have prizes reinvested into more Premium Bonds, giving them more chances of winning prizes in future draws. Customers will receive prizes more quickly, more easily and more securely. Almost three quarters (74%) of Premium Bonds prizes are…

LESS IS SOMETIMES MORE IN ERNIE’S PREMIUM BONDS DRAW

After the launch of Premium Bonds in November 1956, savers across the nation waited with bated breath for the first draw in June 1957. Ever since then, ERNIE has randomly generated numbers, sharing out millions of tax-free prizes both large and small. Higher value prizes can sometimes feel out of reach for savers with more modest holdings, but each £1 Bond has an equal chance of winning, no matter where or when it was first bought. The most recent draw in September 2020 proved that sometimes…

PREMIUM BONDS WINNERS IN CUMBRIA AND OUTER LONDON

The £1 million Premium Bonds jackpot prize winners in August 2020 are a woman from Cumbria and a man from Outer London. The first £1 million prize, Bond number: 174SW095381 belongs to a woman from Cumbria. She purchased the winning Bond in November 2010 and has a total of £5,900 in Premium Bonds. She becomes the seventh Premium Bonds millionaire winner in Cumbria, with the previous jackpot win in the region in November 2019.

NS&I 2020-21 NET FINANCING TARGET REVISED TO £35 BILLION AND NS&I ISSUES PROVISIONAL Q1 2020-21 RESULTS

HM Treasury has today confirmed that NS&I’s Net Financing target for 2020-21 has been revised from £6 billion (+/- £3 billion) to £35 billion (+/- £5 billion) to reflect government finance requirements arising from Covid-19. NS&I’s Annual Report & Accounts 2019-20, published on 23 June 2020, stated that NS&I’s £6 billion Net Financing target announced in the March 2020 Budget would be subject to in-year revision. Today’s new target may be subject to further revision during the…
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