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In July NS&I increased the Premium Bonds investment limit from £30,000 to £40,000, and added a second £1 million jackpot prize to the draw. Therefore, since last month ERNIE now makes two lucky millionaires every month.

New research out today reveals that banks/building societies are at risk of bombarding customers with too much financial jargon – potentially losing their custom to a competitor because they simply don’t understand the language used by them.

NS&I today published its latest unaudited quarterly figures, for the first quarter (April-June 2014) of the financial year 2014-15.

In the 2014 Budget the Chancellor announced that NS&I would help support savers by increasing the Premium Bonds investment limit from £30,000 to £40,000, and by adding a second £1 million jackpot prize to the draw. Therefore, for the first time since March 2009, this month ERNIE has made two lucky millionaires!

Following the announcement in the 2014 Budget that NS&I would help support savers by increasing the Premium Bonds investment limit to £40,000, and increase the number of £1 million prizes from one to two, NS&I has announced that the Premium Bonds annual prize fund rate will increase from 1.30% to 1.35% from 1 August 2014.

The current savings outlook for Great Britain is more positive than spring last year, with NS&I’s Quarterly Savings Survey showing a 2 percentage point increase in the proportion of people who feel they are more likely to save over the next three months (spring 2014 18%; spring 2013 16%). Also, the number of people less likely to save has declined from 22% in spring 2013 to 18% in spring 2014.

For the July 2014 draw ERNIE paid out over 1.8 million prizes, together amounting to over £51 million in value.

From 1 July 2014, savers will be able to take advantage of the government’s increase to ISA limits announced in the March Budget.

NS&I today announced its annual results for the year to 31 March 2014.

The Financial Secretary to HM Treasury has appointed Cheryl Millington as an independent Non-executive Director on the board of NS&I with effect from 1 July 2014.