National Savings and Investments (NS&I) raises the underlying interest rate for Premium Bonds to 4.35% from the next draw, according to multiple reports. The increase means the distribution remains structured around monthly cash prizes, including larger prizes such as 95 monthly awards of £100,000.
The previous underlying rate is reported as 3.8%, indicating a clear step up in the return applied to the Premium Bonds prize fund. While the outlets focus on the headline prize figures and the percentage increase, they align on the key change itself: the underlying rate adjustment takes effect for the next draw, and it replaces the prior 3.8% level.
