• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, March 7, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home Investment

Premium Bonds Prize Will be Reduced from May 2017

by Elise Dopson
10/04/2017

Premium bonds have been around since as early as 1956 and millions of people all over the UK have some money tied up in the investment bonds, but the prize rates for those who win are reducing.

Premium bonds are the UK’s most popular form of savings product and instead of a traditional account which pays regular, guaranteed interest; people who have purchased premium bonds have their money entered into a monthly draw and are in with the chances of receiving bonuses on their investment.

However, as of May 2017, National Savings & Investment (NS&I) are reducing the total prize fund rate from 1.25% to 1.1% and as a result, the number of people who win the higher rates are set to dwindle.

The total number of winners who receive the maximum £1,000,000 return will stay the same, although the number of prizes that are £25,000 or less in value are set to fall each month.

£25 is the lowest figure that can be won through a premium bond prize and there is expected to be 5,020 less winners when the changes come into play. The odds of winning will remain at 30,000 to 1.

According to Steve Owen, acting chief at NS&I, they have “taken the time to absorb the impact of reduction and subsequent changes across the savings market.

The new rates reflect current market conditions and allow us to continue to strike a balance between the needs of our savers, taxpayers and the stability of the broader financial services sector.”

It is reported that the reductions come as a result of the Base Rate reduction from the Bank of England from 0.5% to 0.25%.

RelatedPosts

National Governments Keen to Use Blockchain Technology

The Forex market starts with Traders Union

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Aroxcapital Review – Does It Pass the Five Crucial Benchmarks?

Load More

While it is still worthwhile in investing your money in premium bonds, the reduction in prizes will no doubt be off-putting for some bond holders.

Tags: premium bonds
Previous Post

Top Tips for Better Conference Speaking

Next Post

Top Start-Up Cities 2017

Related Posts

National Governments Keen to Use Blockchain Technology
Finance

National Governments Keen to Use Blockchain Technology

05/03/2021
The Forex market starts with Traders Union
Investment

The Forex market starts with Traders Union

26/02/2021
5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths
News

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

25/02/2021
Next Post
Top Start-Up Cities 2017

Top Start-Up Cities 2017

Surviving a Harsh Economy: Saving Tips for People Going Away this summer

How to save money on your summer wardrobe

Top Tips for Better Conference Speaking

Steer Clear Out of DUI Charges with the Houston DWI Lawyer Services

Latest News

Some Important Things to Consider While Buying TV Covers Online

Some Important Things to Consider While Buying TV Covers Online

05/03/2021
5 online side hustles that could boost your income in 2021

5 online side hustles that could boost your income in 2021

05/03/2021
4 Things to know about a luggage storage business

4 Things to know about a luggage storage business

05/03/2021
Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

05/03/2021
How to Accessorise For Your Zoom Meetings

How to Accessorise For Your Zoom Meetings

05/03/2021
National Governments Keen to Use Blockchain Technology

National Governments Keen to Use Blockchain Technology

05/03/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.