Overview
- NS&I’s Premium Bonds prize fund rate stands at 3.6% after three reductions this year.
- The chance of a win is roughly 21,000 to one per £1 bond each month and holdings do not earn compound interest.
- Easy-access savings accounts are paying around 4.5%, with options such as Leeds Building Society’s Home Deposit Saver at 4.8%.
- Analysts suggest considering cashing in after several draws with no wins, especially for savings earmarked for specific goals.
- Commentators do not expect notable Premium Bonds changes in the Autumn Budget and caution against shifting savings into overheated stock sectors.