NS&I announces change for anyone with Premium Bonds starting next year

manchestereveningnews.co.uk:

NS&I has announced a big change for Premium Bond holders, which will come into play next year. From the January 2025 draw, the prize fund rate will become less generous, the government-backed savings bank has announced.

The rate will drop from 4.15 per cent down to 4 per cent. It comes as the prize fund rate for Premium Bonds is already due to be cut in the December draw - from 4.4 per cent to 4.15 per cent. READ MORE: DWP announces major crackdown with big changes coming to UK benefits The odds of winning in January will remain the same as in December, at 22,000 to one.

The number of prizes is set to drop from an estimated 82 prizes of £100,000 in January, down from 83 in December. There will be an estimated 166 prizes of £50,000 in January, down from 167 in December.

The estimated number of £1 million prizes will remain the same, at two. There will also be a higher number of lower-value prizes of £25 in January, estimated at 1,815,854, up from 1,509,458 in December.