PREMIUM BOND holders now have a better chance of winning after National Savings and Investments (NS&I) increased the prize fund rate from 3 percent to 3.15 percent.

The new rate, maximum in 14 years, comes into effect from February.

Premium Bonds do not earn interest, rather the interest rate finances the tax-free monthly drawing. The bonds are the UK’s largest savings product, with more than 21 million participants investing £119 billion (approximately €137 billion) in them.

However, the probability that each £1 (€1.13) bonus wins is still fixed at 24,000 to 1, since the number of prizes worth between £50 (€56.75) and £100,000 (113,472 €) will increase in the next draw. , but there will be fewer prizes of £25 (€28.38).

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By yjawq

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