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    National Savings and Investments (NS&I) has announced the rates paid on Guaranteed Growth Bonds, Guaranteed Income Bonds and Fixed Interest Savings Certificates, which are not currently on sale, will rise from December 1, 2022. More than 2.7 million savers are set to benefit from the savings provider's changes, with increases across its variable products effective from today.

    He continued: "Some of the rates we’re now paying – including on Premium Bonds – are the highest that they have been in over a decade, which is great news for savers.

    “The changes to interest rates we’ve announced today will help ensure that our products are priced appropriately when compared to those offered by our competitors.”

    All customers with savings in NS&I’s variable accounts have seen a boost to their savings within the last month, with the Premium Bonds prize fund rate increasing from 1.40 to 2.20 percent for the October draw.

    It means the odds of each £1 Premium Bond number winning a prize also improved from 24,500 to one to 24,000 to one.

    NS&I's 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)

    READ MORE: Pensioners demand return of triple lock as 'nothing extra in pot'

    NS&I's new interest rate from December 1, 2022:

    Guaranteed Growth Bonds (one year)

    1.85 to 3.60 percent gross/AER

    Guaranteed Growth Bonds (two year)

    2.25 to 3.6 percent gross/AER

    Guaranteed Growth Bonds (three year)

    2.55 to 3.70 percent gross/AER

    Guaranteed Growth Bonds (five-year)

    2.55 to 3.80 percent gross/AER

    Guaranteed Income Bonds (one year)

    1.80 to 3.50 percent gross

    Guaranteed Income Bonds (two year)

    2.20 to 3.55 percent

    Guaranteed Income Bonds (three year)

    2.50 to 3.60 percent gross

    Guaranteed Income Bonds (five year)

    2.50 to 3.70 percent gross

    Fixed Interest Savings Certificates (two year)

    2.15 to 3.40 percent gross

    Fixed Interest Savings Certificates (five year)

    2.45 to 3.55 percent gross

    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)

    One question that often pops up is "can I improve my chances of winning the premium bonds prize draw?"

    The NS& I website states: “Each £1 Bond number has an equal chance of winning, regardless of when or where it was bought."

    "Over 95 percent of eligible Premium Bonds have been bought since the year 2000.

    “So even though Premium Bonds have been on sale for over 60 years, this is why newer Bonds seem to win more frequently.”

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    en English
    af Afrikaanssq Albanianam Amharicar Arabichy Armenianaz Azerbaijanieu Basquebe Belarusianbn Bengalibs Bosnianbg Bulgarianca Catalanceb Cebuanony Chichewazh-CN Chinese (Simplified)zh-TW Chinese (Traditional)co Corsicanhr Croatiancs Czechda Danishnl Dutchen Englisheo Esperantoet Estoniantl Filipinofi Finnishfr Frenchfy Frisiangl Galicianka Georgiande Germanel Greekgu Gujaratiht Haitian Creoleha Hausahaw Hawaiianiw Hebrewhi Hindihmn Hmonghu Hungarianis Icelandicig Igboid Indonesianga Irishit Italianja Japanesejw Javanesekn Kannadakk Kazakhkm Khmerko Koreanku Kurdish (Kurmanji)ky Kyrgyzlo Laola Latinlv Latvianlt Lithuanianlb Luxembourgishmk Macedonianmg Malagasyms Malayml Malayalammt Maltesemi Maorimr Marathimn Mongolianmy Myanmar (Burmese)ne Nepalino Norwegianps Pashtofa Persianpl Polishpt Portuguesepa Punjabiro Romanianru Russiansm Samoangd Scottish Gaelicsr Serbianst Sesothosn Shonasd Sindhisi Sinhalask Slovaksl Slovenianso Somalies Spanishsu Sudanesesw Swahilisv Swedishtg Tajikta Tamilte Teluguth Thaitr Turkishuk Ukrainianur Urduuz Uzbekvi Vietnamesecy Welshxh Xhosayi Yiddishyo Yorubazu Zulu