Premium Bonds

Savers will soon be able to stash away more cash in premium bonds after the Chancellor announced the current limit will rise - but it is likely the chances of winning will fall, to pay for more £1 million victors.

Premium Bond holders will have their chances of winning slashed next week, as NS&I is cutting the annual 'interest rate' on the prize fund.

Savers are being urged to check for forgotten Premium Bonds as £44 million worth of prizes are still unclaimed, including two £100,000 windfalls.

A Premium Bond holder has claimed winnings from cash invested over 50 years ago, after the Government-run bank behind the scheme appealed for customers to come forward for £41 million of unclaimed prizes.

Halifax has added a gimmick to its savings range by entering savers with at least £5,000 with the bank into a monthly prize draw to win up to £100,000.

Premium bond holders will soon see their chances of winning increase, as the prize fund 'interest rate' will rise from 1% to 1.5% on 1 Oct.

Premium bond holders’ chances of beating inflation have been slashed from 75% to 1% over the past year, we can reveal today.

Premium Bond holders were dealt a blow today after the interest rate that determines their chances of winning was slashed.