NS&I Lowers Premium Bonds Prize Rate and Odds Amid Market Shifts

The changes reflect broader declines in savings rates following a recent Bank of England rate cut.

The odds of winning a Premium Bond prize will worsen from 21,000 to one to 22,000 to one starting in December.
NS&I's prize fund rate for Premium Bonds will decrease to 4.15% from 4.40% in December.
Interest rates for NS&I's Direct Saver and Income Bonds will drop to 3.75% from 4.00% starting November 20.
New British Savings Bonds offer lower rates, with the Guaranteed Growth Bond at 4.10% AER and the Guaranteed Income option at 4.09% AER.
These adjustments follow a Bank of England base rate cut, with further reductions anticipated in the savings market.