Nationwide launch a ‘Mutual Reward Bond’ offering a £10,000 prize fund as NS&I lower odds

In light of these changes, the odds of any £1 bond numbers winning a prize of any value will decreased from 24,500 to one, to 34,500 to one.

On top of this, NS&I will reduce the rates on a number of their savings products from November 2020.

Ian Ackerley, NS&I’s Chief Executive, commented on the organisations planned changes: “Reducing interest rates is always a difficult decision.

“In April we cancelled interest rate reductions announced in February and scheduled for 1 May.