NS&I research has shown the enduring influence of our parents on building long term savings habits and the financial as well as emotional bonds between the generations.
50% of Britons had a savings account opened for them by their parent or guardian when they were a child, with just over half of over 16s (51%) saving regularly as a child, either by themselves or parents investing on their behalf and almost two thirds of over 16s (62%) saving regularly into adulthood.
NS&I has announced that it is increasing interest rates on both its Junior ISA and Direct ISA. Interest rates paid on Junior ISA will be increasing by 75 basis points from 2.50% AER to 3.25% AER. In addition, the interest rate paid on Direct ISA will be increasing by 15 basis points from 0.75% AER to 0.90% AER.
ERNIE has regenerated for the first time in 15 years, and is using quantum technology to generate random numbers. NS&I has also become one of the UK's first financial organisations to create an Alexa Skill, giving Premium Bonds customers another way to check their prizes.
When we reduced the minimum investment into Premium Bonds to £25 at the start of February, we also reduced the minimum monthly standing order, making it even easier for people to get into the savings habit.
NS&I have today (1 February 2019) reduced the minimum initial investment for Premium Bonds from £100 to £25. This is the first time in the 63 years since Premium Bonds launched that the minimum investment has been lowered, and it is the lowest minimum purchase since 1993. The change will allow adults over the age of 16 to purchase or set up a standing order for a minimum of £25, or gift at least £25 to their children or grandchildren.
It's been a while, but ERNIE never forgets a number, and this month Agent Million has made a rare trip to Humberside and a more familiar trip to Devon to deliver news of February's Premium Bonds £1 million windfall.
Premium Bonds continue to be a popular present for children at Christmas, especially from parents and grandparents who want to inspire the young people in their lives to enjoy the winning experiences they’ve had from ERNIE over the past 61 years.