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NS&I boosts interest rates amid market changes - what you need to know

• NS&I has announced increased interest rates for several several of its British Savings Bonds
• The Government-run provider is bucking the trend of rate cuts across the savings market. Despite the increases from NS&I, the Premium Bonds prize fund rate is at 3.3% after being cut from 3.6% in April
• An NS&I spokesperson said: "NS&I reviews the interest rates on all of its products regularly and makes changes when appropriate to ensure it continues to balance the interests of savers, taxpayers and the broader financial services sector."

• Sarah Coles from AJ Bell warned that any future Premium Bond changes depend on market conditions. She explained: "NS&I has a duty to offer decent returns to savers - without being so generous that it's a bad deal for taxpayers."
• The odds of winning Premium Bonds also worsened from April, dropping from 22,000 to one to 23,000 to one. Ms Coles said that any future prize rate increases would also depend on Bank of England decisions and NS&I's financing targets.

READ THE FULL STORY: NS&I update over Premium Bonds after rates increases