My win on Premium Bonds made me think about interest rates

Others will chose to type their Bond number into the prize checker on the NS&I website. I’m less of a fan, as truth be told, I would have to either remember the number or look out the paperwork from when I made my first purchase. But this can also be a speedy way to find out about a win.

Fans of the technological age can now also ask their Amazon Alexa to provide them with the details of any win, as long as they install the NS&I prize checker function.

But then, there’s the prize rate fund: 3.3 percent to be exact, which is solid and undoubtedly welcome amongst savers. However, when compared to other offers currently available, the cracks begin to show.

The Bank of England base rate decision is looming – and that can certainly have an impact for our savings, as the last ten consecutive rate rises have shown.

Sure, it’s taking more time for banks to pass down the benefits to customers, but they are undoubtedly coming, and are likely to improve the rewards for cash saving once more after years in the doldrums.