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Sarah Money Manager


Joined: 16 Jul 2004 Posts: 831
Cash Points ££ 12024.38
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Posted: Sun May 21, 2006 4:10 pm Post subject: Premium Bond Prize Pool to be CUT from 1st of June 06 ! |
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NS&I will reduce the prize fund from 3% to 2.95% from June 1. This means that the chances of winning any of the big prizes has been reduced.
It means that there will be one fewer £50,000 prize and two fewer £10,000 prizes offered. The number of £100 prizes is being cut by more than a third from 63,910 to 41,550. The number of £50 prizes is being increased by around the same amount.
As of June 1 the total monthly prize pool will shrink from £76.6m to £75.4m. The odds of winning a prize will remain at 24,000-1, but the probability of winning one of the bigger prizes is reduced. |
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newsaver Newbie

Joined: 28 Feb 2005 Posts: 12
Cash Points ££ 202.10
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Posted: Mon May 22, 2006 3:49 am Post subject: |
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| 0.05% does not seem that big a cut, though with the talk about rate rises, why are they moving in the other direction ? |
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sneekygirl Newbie

Joined: 19 Feb 2006 Posts: 20
Cash Points ££ 311.74
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Posted: Thu May 25, 2006 12:55 am Post subject: |
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A prize pool of 2.95% is abysmally poor return ! You can get 5% on savings account !!!
I suppose its good for higher rate tax payers...  |
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Sami Beginning Saver

Joined: 17 Apr 2006 Posts: 39
Cash Points ££ 795.66
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Posted: Fri Jun 02, 2006 11:28 pm Post subject: |
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Nope, not won anything this month  |
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redrose Beginning Saver

Joined: 04 Apr 2005 Posts: 33
Cash Points ££ 544.14
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Posted: Thu Jun 08, 2006 12:25 am Post subject: |
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I think the reason why I did not win anything this month IS becuase of the cut ! !!!
2.95% is a very crap rate !  |
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