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More than 2.7 million savers are set to benefit as NS&I increases interest rates across its product range, with changes across its variable products effective from today (25 October 2022). The interest rate paid on Direct Saver and Income Bonds is now at the highest it has been in over a decade, with the rate on Direct ISA now at its highest level since February 2014.   NS&I has also increased the interest rate it pays on its Junior ISA and Investment Account.

This month’s Premium Bonds millionaire jackpot winners come from Outer London and Suffolk. October’s prize draw also saw an extra £79 million added to the prize pot, with the prize fund rate increasing from 1.40% to 2.20% – the biggest single increase in more than 40 years – and the odds improving from 24,500 to 1 to 24,000 to 1.

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.

September’s Premium Bonds jackpot winners come from Sefton and West Sussex. The first winning Bond number drawn was 409PT785413 and belongs to a winner in Sefton. The jackpot winner holds £50,000 in Premium Bonds and purchased the winning Bond in August 2020. The second winning Bond number drawn was 324MB318235 and the winner comes from West Sussex. The winner holds £50,000 in Premium Bonds and purchased their winning Bond in February 2018.  

Third Issue of Green Savings Bonds at a fixed-rate of 3.00% gross/AER over a three-year term Money invest in Green Savings Bonds will help finance green projects as part of the UK Government Green Financing Framework Savers can help fund vital green projects across the UK while earning an improved rate of interest from today, with the third Issue of NS&I’s Green Savings Bonds paying 3.00% gross/AER fixed-rate over a three-year term.

NS&I delivered £1.3 billion of Net Financing to the Government in Q1 2022-23. The figure is part of NS&I’s latest unaudited quarterly results for the first quarter (April-June 2022) of the financial year 2022-23. The March 2022 Spring Statement set NS&I’s Net Financing target for 2022-23 at £6 billion (+/- £3 billion).

Agent Million was out in the weekend sunshine, travelling to Dorset and Buckinghamshire to let two Premium Bonds holders know that they had won the jackpot prize of £1 million.

More than 1.3 million people will see a boost to their savings as NS&I increases the interest rate on many of its products. The interest rate paid on Direct Saver, Income Bonds, Direct ISA and Junior ISA, will increase from today (21 July 2022). The interest rate paid on Guaranteed Growth Bonds, Guaranteed Income Bonds and Fixed Interest Savings Certificates will also be increasing, effective from 1 August 2022. These products are not currently on sale and the new interest rates are only…

July’s Premium Bonds jackpot winners come from Inner London and Surrey. The first winning Bond number drawn was 210ST236184 and it belongs to a winner in Inner London. The jackpot winner holds £30,300 in Premium Bonds and purchased the winning Bond in August 2013. They become the seventh millionaire chosen by ERNIE from Inner London.