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Is the prize pool for Premium Bonds about to be cut?

In September 2020, NS&I announced a series of rate cuts across their product range, to take effect two months later.  This included Premium Bonds, where the prize pool rate was reduced from 1.40% to 1%.  However, seven months on, this is double the best paying easy access account (app only Atom Bank's 0.50%) and an average of £1.65bn is flowing in to Premium Bonds each month.  Ahead of their annual results, James takes a look at NS&I's numbers and gives his verdict on whether the results will be accompanied by an announcement of a cut.

Savings Guru on BBC Radio Scotland

We are delighted to have been invited to talk about challenger banks and their influence on the market.  Our Founder, James Blower, will be on the BBC Radio Scotland breakfast show tomorrow morning at around 7.40am talking to Gillian Marles about the different types of challenger banks, what’s behind the influx of new banks, whether they have been successful and what he sees happening in the future.  

Tune in live on 92.5 – 94.7 FM or via the BBC Radio player online at http://www.bbc.co.uk/radio/player/bbc_radio_scotland_fm

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About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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