Premium Bonds prize fund rate rises tomorrow and there's over 1m more prizes up for grabs

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Premium Bonds prize fund rate rises tomorrow and there's over 1m more prizes up for grabs

Mr Ackerley said: “It also ensures that we continue to balance the interests of savers, taxpayers and the broader financial services sector.“Premiu

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Mr Ackerley said: “It also ensures that we continue to balance the interests of savers, taxpayers and the broader financial services sector.

“Premium Bonds customers will benefit from the chance to win a further 1.4 million tax-free prizes each month, as well as the peace of mind that customers get with 100 percent of their NS&I savings being backed by HM Treasury.”

NS&I predicts that the number of those getting their hands on the lower end of the prize draw, which consists of winnings from £50 to £5,000, will also increase by a total of 15,315.

The news of the increase is supposedly good news for savers, however the Office for National Statistics (ONS) confirmed that inflation had reached a 40-year high of nine percent at the beginning of May.



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