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NS&I to increase the Premium Bond prize rate to 2.2% – here's all you need to know

NS&I will increase its Premium Bond prize-fund rate to 2.2% from 1.4% in its October draw, increasing the odds of a win from 24,500-to-one to 24,000-to-one. The change means there will be around 100,000 extra chances of winning in the October draw – with a small increase in the number of larger prizes available and a drastic increase in the number of £50 and £100 prizes on offer.

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NS&I to increase the Premium Bond prize rate to 2.2% – here's all you need to know

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