The minimum amount you can save in Premium Bonds will be cut to £25, and people other than parents and grandparents will be able to gift bonds to children, the Chancellor has announced.
Millions of Premium Bond holders will have a better chance of winning from next month as NS&I is boosting the prize fund, following last week's Bank of England base rate rise.
Savers will be able to stash away more cash in Premium Bonds as the limit rises today, but there is still no guarantee you get a return on your investment.
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.
Chancellor George Osborne announced big changes for the UK's savers in today's Budget, including a revamp of the Isa system and new bonds for over-65s.
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.
4 September 2012
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