National Savings and Investments has boosted the underlying rate on Premium Bonds to 4.35 per cent from the next draw, the highest rate for nearly two years.
The odds of a bond winning a prize are also shortening to 21,000 to 1 from 22,000 to 1. It comes just months after NS&I boosted the rate from 3.3 per cent to 3.8 per cent.
More than 22million people hold Premium Bonds and they are one of Britain’s most popular savings products.
We previously reported on how far below financing targets the Treasury-backed bank is for the current financial year.
Compared to the August 2026 draw, it is
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