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50,000 Reasons to invest in Premium Bonds

Infinity
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50,000 Reasons to invest in Premium Bonds

From Monday, the maximum that you can invest in the Government-backed National Savings & Investments bonds rises by £10,000 from its current cap of £40,000, to £50,000.
NS&I pays out millions of prizes equal to an interest rate of 1.35 per cent a year on the total money held in the bonds.
And if you do hit the jackpot, your winnings are tax-free, so you won’t have to declare them.
http://www.dailymail.co.uk/money/saving/article-3097869/Savers-set-pour-millions-premium-bonds-week-...

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Re: 50,000 Reasons to invest in Premium Bonds

Apparently a study has shown that the best return is had by having only a fraction of the maximum amount. Not the maximum as you would think.
I simply can't afford to risk money getting no return but I gave it a go and last year, for my fraction, I got a return of 1.7% which wasn't bad considering there's always still the chance of getting the biggy.
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Re: 50,000 Reasons to invest in Premium Bonds

I currently save up all cashbacks I receive and when they reach £50 I buy another 50 bonds.
Would be nice to win the biggie but would be happy to win enough to clear debts Smiley

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Re: 50,000 Reasons to invest in Premium Bonds

One of my two 55 year old bonds won £25 3 years ago.
What percentage return on investment is that?
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