The Premium Bond prize fund rate will be reduced for the third time this year, falling from 3.8% to 3.6% from the August draw.
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.
