NS&I Premium Bond prize fund rate jumps to 3.3%

NS&I is hiking its prize fund rate again, marking the fifth rise in a year. We look at how the changes will affect you.

Phone screen reading thank you for your investment
(Image credit: NS&I)

National Savings & Investments (NS&I) is hiking its Premium Bond prize fund rate from 3.15% to 3.3% in the March draw, meaning there will be an extra £15 million in prizes up for grabs each month.

It marks the fifth rate increase for Premium Bonds in the last year, and the third increase in a row, as NS&I tries to lure savers and compete with rising interest rates on savings accounts.

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Value of prizes Number of prizes in February 2023Number of prizes in March 2023
£1,000,00022
£100,0005962
£100,0005962
£100,0005962
£50,000117123
£25,000236248
£10,000590620
£5,0001,1771,236
£1,00012,57313,173
£50037,71939,519
£1001,280,5091,400,876
£501,280,5091,400,876
£252,376,1612,132,917
Total£314,347,875Total4,989,652Total4,989,652
Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.