Millions of pounds more in Premium Bonds prizes will be up for grabs from next month, in a boost for 22 million savers.
Treasury-backed savings giant NS&I said it will increase the prize fund rate from 1.40% to 2.20%, adding an expected £76 million to the prize fund for October. The Premium Bonds prize fund rate funds a monthly prize draw for tax-free prizes.
The odds of each £1 Premium Bond number winning a prize will improve, from 24,500 to one to 24,000 to one, under the changes.
