Premium Bonds

As from 1 June, the maximum holding rises from £30,000 to £40,000 which is good news to those who want to enjoy the thrill of being in the running for a £1 million prize each month. A further increase to £50,000 happens in 2015-16.

The odds of winning a prize are 26,000/1, an effective return of 1.3% pa.

NS&I rules state that you must hold the bonds for a full month before entering a draw. Therefore, bonds purchased in June will not qualify until August's draw.

About 21 million savers own Premium Bonds. More than £45 billion is invested in the bonds.
They can be held by anyone over 16 and relatives can invest on behalf of children. So will you be partaking with the raised limit? What have been your experiences in the past?

As always if you would welcome advice, then feel free to contact us.