NS and I

Savers aged 65 and over now have until 15 May to deposit money into Pensioner Bonds, as the Government has announced it's extending the scheme past its original £10 billion allocation.

Savers will soon be able to stash away more cash in premium bonds after the Chancellor announced the current limit will rise - but it is likely the chances of winning will fall, to pay for more £1 million victors.

Premium Bond holders will have their chances of winning slashed next week, as NS&I is cutting the annual 'interest rate' on the prize fund.

Savers are being urged to check for forgotten Premium Bonds as £44 million worth of prizes are still unclaimed, including two £100,000 windfalls.

Nearly 100,000 savers will soon receive the unusually cheery news that their rate will rise.

A Premium Bond holder has claimed winnings from cash invested over 50 years ago, after the Government-run bank behind the scheme appealed for customers to come forward for £41 million of unclaimed prizes.

It is now just over a year since the Government's National Savings & Investments (NS&I) bank launched the latest batch of its popular inflation-beating, tax-free accounts, meaning many customers can now withdraw their cash virtually penalty-free.