Premium bonuses are extremely popular and their prize pool currently stands at 4.4 percent.
And investors bought and held 540,384,433 more bonds in this month’s draw compared to last month — the biggest increase in more than a year.
The NS&I rate has remained stable since March, while other easily accessible rates have fallen.
Premium Bonds: Money continues to flow into them – could the underlying rate be cut?
At the time, several easy-access accounts paid more than 5 percent. Now, the top rate is 4.79 percent at Oxbury Bank.
But the popularity and high yield of Premium Bonds could suggest a cut is on the way.
The Treasury has asked NS&I to raise £9bn in its current financial year, 20 per cent more than last year.
With a £22bn black hole in the public finances, the Government could turn to NS&I even further.
This could be good news, as the cuts could be less severe.
Last week, NS&I quietly cut the staggering 5.15 per cent rate it offered to more than a quarter of a million savers.
The high-yield bond was on sale for just five weeks and was available to the 225,000 savers who purchased Growth or Guaranteed Income Bonds last summer.
NS&I was offering 5.15 per cent interest to customers who fixed the rate for a year or 5.03 per cent to those who preferred monthly interest.
Premium Bonus Winners
| Prize | Area | Bond value |
| £1,000,000 | West Sussex | £18,101 |
| £1,000,000 | Manchester | £10,000 |
| £100,000 | Kent | £5,000 |
| £100,000 | Port of values | £38,000 |
| £100,000 | Oxfordshire | £700 |
| £100,000 | County of Wiltshire | £24,000 |
| £100,000 | West Sussex | £4,000 |
| £100,000 | Devon | £1,000 |
More winners for September 2024
