National Savings
NS&I RATE CHANGE FOR PREMIUM BONDS, DIRECT SAVER AND INCOME BONDS
RATE CHANGE FOR PREMIUM BONDS, DIRECT SAVER AND INCOME BONDS
NS&I has today, 22nd October 2024 announced reductions to the interest rate on Premium Bonds, Direct Saver and Income Bonds, effective 20 November 2024.
NS&I have reduced Premium Bonds effective from 1st December prize draw. The odds have also been reduced from 21,000 to 1 to 22,000 to 1.
Rate change
| NS&I account | Previous rate | New rate |
| Premium Bonds | 4.40% Variable. Annual Prize Rate (tax-free) – odds of winning: 21,000 to 1 | 4.15% Variable. Annual Prize Rate (tax-free) – odds of winning: 22,000-1 |
| Direct Saver | 4.00% Gross/AER (taxable) | 3.75% Gross/AER (taxable) |
| Income Bonds | 3.93% gross/4.00% AER (taxable) | 3.69% gross/3.75% AER (taxable) |
Find out more at nsandi.com
Definitions
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.
Residual Account is the account where we transfer remaining holdings from an NS&I product that has been closed and we have been unsuccessful in our efforts to return the money invested to our customers in question.
General Extension Rate is the rate of interest earned by War Savings Certificates (1916-1920) and Issues 2 to 43 of Fixed Interest Savings Certificates.
National Savings and Investments is backed by HM Treasury.