Interest rate changes from October 25, 2022:

• Direct Saver
• From: 1.20 percent gross/AER
• To: 1.80 percent gross/AER (+60 basis points)
• Income Bonds
• From: 1.20 percent gross/1.21% AER
• To: 1.80 percent gross/1.81% AER (+60 basis points)
• Direct ISA
• From: 0.90 percent gross/AER
• To: 1.75 percent tax-free/AER (+85 basis points)
• Junior ISA
• From: 2.20 percent gross/AER
• To: 2.70 percent tax-free/AER (+50 basis points)
• Investment Account
• From: 0.01 percent gross/AER
• To: 0.40 percent gross/AER (+39 basis points).

NS&I Premium Bonds provides savers across the country and overseas with a chance to win extra cash through a monthly prize draw

NS&I boosted its prize fund rate from 1.40 percent to 2.20 percent last month, adding around £76million to the fund.

The changes have seen the number of £5,000, £10,000, £25,000, £50,000 and £100,000 prizes almost double.

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