Expert’s one-month warning to anyone with Premium Bonds | Personal Finance | Finance
A cut in the effective interest rate offered through buying Premium Bonds has prompted a warning from finance experts. From January – in just over a month’s time – the effective prize rate will drop from 4.15 percent to 4 percent, which is below the figure offered by a number of savings accounts.
For example, the top-paying one-year fixed rate savings account with Cynergy Bank, currently pays 4.85 percent, while savers fixing for two years can achieve 4.55 percent with United Trust Bank.
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