NS&I has boosted the rates of its British Savings Bonds to up to 4.1% AER and has relaunched one and five year fixed-rate bonds.

NS&I will cut rates on some of its variable products from next month and the Premium Bonds prize fund rate from the April draw.

The Premium Bonds prize fund rate will fall from 4.15% to 4% from the January 2025 draw, although the odds of winning will remain at 22,000 to 1.

NS&I, the government-backed savings providers, has today cut rates on some of its fixed term products.