Martin Lewis suggest how to get better rate on NS&I savings account | Personal Finance | Finance

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An extra £80million in higher-value prizes was up for grabs.

Premium Bonds are essentially a savings account people can put money into, where instead of being paid interest, tax-free prizes are awarded in a monthly draw. Prizes range from £25 to £1million.

The odds of winning will remain the same at 24,000-to-one, but there will be more than three times as many prizes between £5,000 and £100,000 available.

It’s estimated that the number of £100,000 prizes will triple from 18 to 56, the number of £50,000 prizes will rise from 36 to 112, and the number of £25,000 prizes will more than triple from 71 to 223.

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