Premium Bonds prize rate hiked to highest level in 14 years 🔴 The hike, which comes into effect in the February prize draw, will benefit millions of customers and is at the highest level since May 2008.
However, experts have suggested savers might be able to boost their returns by putting their money elsewhere.
“While the odds of a win of any size is still 24,000 to one, it still means that in an average month, the average saver will win nothing. You may well be prepared to take your chances, but at a time when inflation is running at close to 10 per cent and you can make almost 3 per cent in an easy access account elsewhere, and 2.3 per cent with NS&I, you need to be aware of the price you’re paying.
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