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flag UK's NS&I reduces Premium Bond interest rate to 3.6%, cutting big prizes but maintaining winning odds.

flag UK's NS&I has lowered the Premium Bond interest rate from 3.8% to 3.6%, effective August, reducing the number of large prizes while keeping the odds of winning at 22,000 to 1 per £1 bond. flag Despite fewer £100,000 prizes (from 79 to 75), the number of £1 million prizes will remain at two monthly. flag NS&I's Andrew Westhead noted the shift reflects changes in savings landscape but maintains the appeal of security and potential tax-free wins.

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