WebJan 24, 2024 · The move comes after the Government-backed institution added £80 million to the prize pot towards the end of last year. National Savings and Investments (NS&I) will increase its Premium Bonds prize fund rate to 3.15% from the next prize draw in February.. This latest increase, which takes the fund rate to a 14 year high, comes after the savings … WebJan 24, 2024 · With its fourth increase to the Premium Bond prize-fund rate in the past year, NS&I is once again shaking up the distribution of prizes. Approximately 250,000 of the lowest-value £25 prizes are being shifted to higher-value prizes of between £50 and £100,000 – although there will still only be two monthly winners of the top £1 million prize.
NS&I to increase Premium Bonds prize fund rate
WebFeb 14, 2024 · The prize rate has increased from 3.15% to 3.3%, taking the amount paid out on average by Premium Bonds ahead of the competition – the highest easy-access account offered by Paragon pays 3.1% ... WebMar 16, 2024 · Premium Bond prizes (the interest) are paid tax-free. However, for many people that's no longer a bonus. Since 2016, the personal savings allowance (PSA) has meant all savings interest is automatically paid tax-free. You only need to pay tax on it if you're a basic 20% rate taxpayer earning more than £1,000 interest a year, a higher 40% … merle norman corinth ms
Premium Bonds prize rate hits 15-year high, but are they worth it ...
WebThe effective interest rate on Premium Bonds is currently 3.3pc, having risen from 3.15pc in February, and the highest since May 2008. NS&I also increased rates for its “Direct Saver” and ... WebJan 25, 2024 · If you have Premium Bonds you might want to check your winners as National Savings & Investments have increased prize funds. (Image: PA) National Savings … WebSep 27, 2024 · Notes to Editors. NS&I increased the prize fund rate on Premium Bonds from 1.00% to 1.40% in June 2024. The odds at this time changed from 34,500 to 1 to 24,500 to … merle norman corporate headquarters