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flag NS&I cuts Premium Bonds prize rate to 3.80%, affecting high-value prizes, amid UK interest rate changes.

flag NS&I, a UK financial institution, is reducing the prize fund rate for Premium Bonds from 4.00% to 3.80% starting April 2025, resulting in fewer high-value prizes. flag The odds of winning remain at 22,000 to 1. flag NS&I also increased the Direct ISA rate to 3.50% but will lower rates on Direct Saver and Income Bonds. flag These changes follow the Bank of England's base rate cut to 4.5%.

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