Savings Accounts

NS&I will increase its Premium Bond prize-fund rate to 2.2% from 1.4% in its October draw, increasing the odds of a win from 24,500-to-one to 24,000-to-one. The change means there will be around 100,000 extra chances of winning in the October draw – with a small increase in the number of larger prizes available and a drastic increase in the number of £50 and £100 prizes on offer.

Savings app Chip will start charging customers using its standard free account for certain features, including its popular 'auto-saving' function, from 12 October. Below we explain what's happening and alternative accounts to consider. 

Virgin Money has increased its M Plus savings account’s interest rate to a table-topping 1.71%, the highest rate for an easy-access account since September 2013. New and existing savers will automatically get the new rate from today. But you can get a better rate if you lock your money away.

Marcus customers who have a savings account or cash ISA can get a bonus rate of 0.25% added to their accounts for 12 months BUT only if you activate it – below we explain how to do so.

A quarter of people have stopped paying into long-term investments, such as stocks and shares ISAs or pensions, as a result of the recent spike in the cost of living, a poll has found. Here are all the details.

App-only bank Chase has launched a new easy-access savings account that pays a market-leading rate of 1.5% – the highest we've seen in over two and a half years. On top of that, customers can deposit a huge £250,000. Here are all the details.

Certain Post Office savings accounts will no longer accept payments into them from 1 March 2022 unless they're from a linked current account (or if they're via cheque or cash). MoneySavingExpert.com has learnt that 150,000 Post Office savers still need to set-up a linked account before the deadline. 

Masthaven Bank is to stop offering personal savings accounts and home mortgages to both new and existing customers over the next two years, it's been announced today (1 February). The provider plans to completely exit these UK markets by the end of 2023 - though there's no immediate change for savers or borrowers.   

Savings app Chip has simplified its membership plan structure, reducing it from three plans to two, and has also added its autosaving feature to its free 'Chip' plan. These changes – which came into effect on 14 January – apply to both new and existing customers.

Martin Lewis explains, for the first time, that how much you put into Premium Bonds has a huge impact on what you'll get back. The MoneySavingExpert.com founder also analyses whether Premium Bonds are worth it in his latest video briefing from the latest series of The Martin Lewis Money Show. Watch the clip below and read on to find out more.