Following the £10,000 increase in the maximum amount you can save in Premium Bonds, National Savings and Investments (NS&I), who manage this savings lottery, have also announced that Premium Bonds sold over the counter in Post Office branches will no longer be available from the end of July. Instead, savers will need to apply online, by post or by phone.
Around one in five Premium Bonds are still purchased from Post Office counters and the service has been available since 1956, so this is likely to be an inconvenience for a number of customers, particularly the elderly who rely on the face-to-face support.
NS&I's chief executive, Jane Platt, said customers who had recently purchased Premium Bonds from a post office would be written to and informed of the end of over-the-counter sales.
After July, customers who do not have access to the internet will be able to send their application through the post or call 0500 500 000 to apply.