National Savings Announces More Premium Bonds Prizes
Number of Premium Bonds prizes will rise to 1m annually in September
21st May 2004
National Savings, the Treasury-backed savings bank, has announced that the number of Premium Bonds prizes on offer will rise to a million a year in September.
Premium Bonds are a tax-free investment where thousands of prizes of up to £1m are paid out monthly, and the increase in prizes will mean the average investor will see a return of 2.8% compared to the current 2.4%.
Private investors can hold up to 30,000 premium bonds, with each £1 bond having an equal chance of winning the jackpot or one of the smaller prizes on offer. Holders of the maximum number of bonds can expect win an average of 15 prizes a year.
Read More: National Savings
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