How do Premium Bonds stack up against a savings account? LUNCH MONEY

NS&I blew its rivals out of the water in early autumn with a table-topping 6.2 per cent one-year fixed rate savings account.

That was just one of the great savings deals NS&I was offering at the time, but those have since fizzled out.

Now there is speculation the Autumn Statement might be about to give NS&I’s rates another boost – and this could spell good news for Premium Bonds too.

On this episode of Lunch Money, Simon Lambert and This is Money’s Lee Boyce discuss whether an update to NS&I’s funding target could turbocharge the savings market.

Plus, how does the Premium Bonds average rate of return compare to a standard savings account and which should you choose?

Richard Hunter, of interactive investor, explains whether the Autumn Statement could bring a boost for investors too – and why so many medium-sized UK firms are takeover targets.

Finally, we are joined by Ofcom’s director of enforcement, Suzanne Cater, who explains why it fined Shell Energy £1.4million for failing to prompt out-of-contract phone and broadband customers to get a better deal.

Explaining how the watchdog is looking out for consumers, Mrs Cater told Lunch Money: ‘This sends a message to the whole industry that Ofcom is watching and we won’t hesitate to step in to protect customers’.

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