There are more Premium Bonds prizes available from August.
National Savings & Investments has announced that from August's draw onwards there will be an extra 52,000 prizes available.
Following the increase on the limit you can save in Premium Bonds from £30,000 to £40,000 announced in the Budget, NS&I has now upped the prize fund rate from 1.30% to 1.35%. As a result, the number of prizes in each category from 1st August will either increase or stay the same.
The annual prize fund rate is paid on the total number of eligible funds in the draw. Since the maximum limit increased in June, it has gone up by over £1.3 billion.
So the value of prizes will rise from £51,998,425 in July to £55,517,300 in August, while the number of prizes grows from 1,845,745 to 1,898,030.
Breaking it down
Here is ERNIE’s new prize distribution at a glance.
|
Value of prizes |
Number of prizes in July 2014 |
Number of prizes in August 2014 (estimate) |
|
£1,000,000 |
1 |
2 |
|
£100,000 |
3 |
4 |
|
£50,000 |
7 |
7 |
|
£25,000 |
12 |
15 |
|
£10,000 |
33 |
38 |
|
£5,000 |
64 |
76 |
|
£1,000 |
831 |
1,110 |
|
£500 |
2,493 |
3,330 |
|
£100 |
12,534 |
15,211 |
|
£50 |
12,534 |
15,211 |
|
£25 |
1,817,233 |
1,863,026 |
|
Total prize fund value |
£51,988,425 |
£55,517,300 |
|
Total number of prizes |
1,845,745 |
1,898,030 |
|
Prize fund split Higher value prizes (£5,000 – £1,000,000) Medium value prizes (£500 – £1,000) Lower value prizes (£25 – £100) |
5% 4% 91% |
7% 5% 88% |
|
Odds of each individual (£1) Bond number winning a prize |
26,000 to 1 |
26,000 to 1 |
Source: NS&I
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