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Moneyforums
Veteran Investor
Joined: 18 Jun 2004
Posts: 598
Cash Points ££ 250.42
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 Posted: Tue Sep 07, 2004 2:10 am Post subject: Premium Bonds |
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Premium bonds
Each month Ernie, the Electronic Random Number Indicator Equipment, picks half a million prize winners. Premium bonds are by far the best seller at National Savings, and each month, one bondholder becomes a millionaire.
The odds on winning £1million is about 13.55 billion to one for each £1 bond you hold. The odds on winning any one prize, however, are much shorter at 24,000 to one for each £1 bond, making it one in 220 for each £100.
The current maximum any one person can hold is £30,000 worth of bonds.
Additionally all wins are tax free - so are ideal for higher rate tax payers more. |
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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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| Posted: Mon Oct 04, 2004 8:53 pm Post subject: |
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Remember to invest in them near the end of the month as they don't enter into the draw until the month after you've bought them.
Otherise you will be wasting the money not earning any interest |
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Deborah
Veteran Investor
Joined: 12 Jul 2004
Posts: 418
Cash Points ££ 1730.36
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| Posted: Sat Oct 16, 2004 10:43 am Post subject: |
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Won £500 this month !
Great ! 
I think I'll reinvest it on upping the chance of winning the big one !  |
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