Alternatives to Premium Bonds: As NS&I rates fall, are other savings prize draws a good option?

If you’re looking for a Premium Bond alternative, a prize draw might be an option, with one offering up to £100,000.

Woman winning prize
(Image credit: Getty Images/monkeybusinessimages)

Premium Bonds are one of the nation’s much-loved savings products, but the equivalent rates and prizes on offer have begun to dwindle.

Offered by National Savings and Investments (NS&I), the products give savers the hope of winning cash prizes and even the million-pound jackpot each month.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.