In March, the Bank of England made the historic decision to cut its base rate to a historic low of 0.1%.
This appeared to have a ripple effect on the rest of the market, with many familiar suppliers announcing that they would also lower interest rates.
And indeed, although premium bonds don’t go up, the 1.40% interest rate helps set the price rate fund.
Premium bonds have the added incentive to offer Britons the potential to become a millionaire through a monthly draw.
It is unclear, however, how long NS&I rates will remain, as the bank has said that its target may be revised, depending on government requirements.
NS&I recently reported paying more than $ 3.7 million in prizes in the recent July premium bond draw.
These prices amounted to a total of £ 106 million, so it is important for the British to check if they could be profitable.
The lucky winners of any NS&I award can access this information through the bank’s online price checker, their phone, or Amazon Alexa.