NS and I

The new Investment Bond from Government savings provider NS&I will pay savers 2.2% for three years from April 2017, Chancellor Philip Hammond confirmed today. Despite its name it's a savings account that pays interest, it's not a risky investment.

Premium Bond prizes are to be cut from May by NS&I, with millions of savers less likely to win as a result.

Savers will be able to stash away more cash in Premium Bonds as the limit rises today, but there is still no guarantee you get a return on your investment.

Savers aged 65 and over now have until 15 May to deposit money into Pensioner Bonds, as the Government has announced it's extending the scheme past its original £10 billion allocation.

Savers will soon be able to stash away more cash in premium bonds after the Chancellor announced the current limit will rise - but it is likely the chances of winning will fall, to pay for more £1 million victors.

Premium Bond holders will have their chances of winning slashed next week, as NS&I is cutting the annual 'interest rate' on the prize fund.

Savers are being urged to check for forgotten Premium Bonds as £44 million worth of prizes are still unclaimed, including two £100,000 windfalls.