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A boost for savers: NS&I increases interest rates

Published on 16/11/2017

NS&I has announced that it is increasing interest rates across its variable rate product range, including  Premium Bonds , from 1 December 2017. NS&I will pass on the Bank of England’s interest rate rise to savers, following the decision to increase the base rate from 0.25% to 0.50%.

Interest rates paid on  Direct ISA Direct Saver Income Bonds Investment Account  and  Junior ISA  will increase by 25 basis points from 1 December 2017. The prize fund rate on Premium Bonds will also increase by 25 basis points to 1.40% and the odds will improve from 30,000 to 1 to 24,500 to 1. The number of prizes paid out each month will increase from 2.3 million to circa 2.9 million - the highest number of prizes in any monthly Premium Bonds prize draw to date. The changes will come into effect from the December 2017 draw.

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