| UPDATED: 21:02, Mon, Mar 15, 2021
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NS&I, which stands for National Savings and Investments, is a popular method of saving which ensures Britons’ money is 100 percent guaranteed by HM Treasury. One of the most used services from the savings provider is Premium Bonds, an investment product where people are entered into a monthly prize draw to win up to £1million each month. While Premium Bonds do not provide Britons with a chance to grow their money, they do have an interest rate which goes towards funding the prizes people can secure each month.
| UPDATED: 11:26, Thu, Mar 11, 2021
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Savings rates have been analysed by Hargreaves Lansdown (HL), who examined how the savings market is performing in the run up to March. They noted savings rates have fallen, particularly fixed rates, with the average one-year rate sitting at just 0.26 percent, down from 0.97 percent in January 2020.
NS&I - which stands for National Savings and Investments - is the government-backed savings provider and it is the home of Premium Bonds. The way in which prizes are paid will begin to be changed in Spring 2021.
| UPDATED: 15:51, Wed, Jan 20, 2021
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While some people will have previously managed their money online, others may have been more hesitant to make the move to digital. Nevertheless, the coronavirus pandemic has no doubt resulted in many opting for online banking, with lockdown restrictions and social distancing restrictions making it more difficult to head into bank and building society branches.