Are Premium Bonds now a no-brainer asks LEE BOYCE after bumper rate boost and more £100,000 prizes?

Are Premium Bonds a no-brainer now the rate has been boosted to 4.35% from the next draw in September?

Premium Bonds holders will have better odds of winning from next month as NS&I increases the prize fund to more than £497 million.

Earlier this month, I predicted that the Government-owned bank would have no choice but to boost its Premium Bond prize rate.

A whopping 2.3million people will win £100 in the September Premium Bond draws

NS&I has revealed it will make changes to Premium Bonds from September in a boost to players. The savings giant said the odds will shorten to 21,000 to one, from 22,000 to one.The prize fund rate will increase for the September draw to 4.35%, up from 3.80%.Compared with the August draw, it is estimated there will be mo

Premium Bonds are a savings product where you are entered into a monthly prize draw, instead of getting a guaranteed rate of interest on your money

There will be an estimated £63 million of extra tax-free prizes in September and immediate interest rate increases

A hike in the interest rates of return on State savings products kicks in on 30 August.