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  "path": "/money/premium-bonds-nsi-nsandi-prize-fund-rate",
  "publishedAt": "2026-05-14T10:31:36.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Major bank issues urgent warning as older Britons have up to £8,500 drained from accounts",
    "Lloyds Bank issues savings update as customers could be £3,500 better off with banking app tool",
    "State pension disaster as Britons to be £70,000 worse-off due to retirement age hike",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nNational Savings and Investments (NS&I) has confirmed the prize fund rate attached to Premium Bonds will increase to 3.80 per cent from July's prize draw.\n\nUnlike traditional savings accounts, Premium Bonds do not accrue interest over a period of time with savers instead being enrolled in a monthly cash lottery.\n\n###\n\n\n\n\nAs such, the prize fund rate is the closest thing to a savings rate, having been cut from 3.6 per cent to 3.3 per cent in last month's Premium Bonds draw.\n\nFurthermore, NS&I announced the odds of someone winning a Premium Bond prize will return to 22,000 to one, after being 23,000 to one.\n\n###\n\n\n\n\n###\n\n\n\n\nAccording to NS&I, there will be an estimated 322,000 extra prizes in July compared to this month's draw, with the overall prize pot jumping to over £60million.\n\nEvery month, two lucky individuals take home the jackpot £1million from NS&I, but the majority of bondholders win smaller sums the longer they invest.\n\nNext month, there is expected to be 12 additional £100,000 prizes, 24 more £50,000 prizes, and an extra 49 £25,000 prizes.\n\nIn terms of smaller cash prizes, July's draw is expected 2.8 million more £25 cash prizes handed out to Premium Bond holders.\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Major bank issues urgent warning as older Britons have up to £8,500 drained from accounts\n  * Lloyds Bank issues savings update as customers could be £3,500 better off with banking app tool\n  * State pension disaster as Britons to be £70,000 worse-off due to retirement age hike\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nAndrew Westhead, NS&I retail director, said: “We regularly review our products to ensure they reflect current market conditions, and we’re pleased to be able to improve rates across five variable savings accounts today.\n\n\"This reflects changes in the wider savings market and helps ensure we meet our net financing target.\n\n\"Premium Bonds offer the monthly excitement of tax-free prizes with 100% security backed by HM Treasury, and the flexibility to withdraw at any time.\n\n\"So, I’m pleased that from July we can improve both the prize fund rate and the odds meaning even more chances to win for our 22 million Premium Bonds holders.\"\n\n**_THIS IS A BREAKING NEWS STORY...MORE TO FOLLOW_**\n\n###\n\n\n\n\n###\n\n\n\n\nRachel Springall, finance expert at Moneyfactscompare.co.uk, said: \"Savers who prefer to keep their pots with NS&I will be delighted to see rates increase, but it is worth noting that the top rates on the market are over four per cent on easy access accounts, with some top fixed accounts paying well over 4.50 per cent.\n\n\"However, there is no denying that some savers will forgo higher rates to have their money placed with the brand, as it is 100% backed by HM Treasury.\n\n\"This move from NS&I comes at a time where there are expectations for interest to stay higher for longer, so it is important that it remains in a somewhat middle ground space to offer a fair rate, but not lead the market outright.\n\n\"Genuinely, interest rates on savings accounts have been increasing, so now is an ideal time to check the latest deals on the market and review any old pots.\"\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Premium Bonds update from NS&I as 22 million Britons to benefit from prize fund rate boost"
}