Sales of Premium Bonds up by £8bn
Sales of the popular tax-free bond soaring
21st July 2006
Sales of premiums bonds soared by £8bn last year according to operators National Savings and Investments (NS&I), with a total of £31bn now invested in the popular tax-free scheme.
The rise has been attributed to a combination of a TV advertising campaign fronted by businessman Alan Sugar, along with the introduction of a second £1m monthly jackpot.
A pilot scheme involving the sale of bonds in Tesco stores was also successful, and is to be rolled out to most of the company's 700 stores over the autumn.
Despite the success of premium bonds, NS&I have said they don't plan to rest on their laurels, and will be undertaking an overhaul of their product range, shifting their emphasis from tax-free savings to more competitive but taxable products.
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