Premium Bonds £1m jackpot slashed in HALF
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Inflation destroys the value of your savings without you even realising it. The Bank of England has let it run amok by holding interest rates too low for too long. Premium Bonds give savers a chance at winning one of two £1m jackpots every month. This month the jackpot was slashed in half.
Premium Bonds £1m jackpot slashed in HALF. Inflation is going to get worse. RCI Bank raises rates on its 95-Day Notice Account to 0.90%. It pays 1.15% on one-year bond and 1,85% for fixed-term fixed deposits. The average savings rate with a bank is still 0,01%. It's better to shop for higher rates. The current inflation rate is 5.4%. In April it will be 7.25%. The inflation will rise even higher. It will increase because of the rise in energy prices.
