Standing orders now authorised on premium bonds

NS&I has opened the way to regular savings from £50 upwards in the government-backed schemes from Monday 18th October, as its own research revealed less than two-thirds of people save regularly each month. People can use the standing order facility as long as the maximum holding is no more than £30,000 but new customers will need to invest an initial amount of £100. Anyone who enters the monthly draw and matches their numbers drawn by the ERNIE number cruncher against their premium bond can win anything between £50 and £1m. Officials point out the prize fund rate is currently 3.2% ...