March 18th, 2009 3 Comments » | POSTED BY ROB
Premium Bonds Even Less Attractive Than Before
Premium bonds have never been a particularly attractive investment, more like a middle class lottery where you didn’t actually lose your money every week.
And thanks to the plunging interest rate, they’re now even less attractive, as National Savings & Investments have cut the prize fund from £60 million to £32 million, and the two monthly prizes of £1 million cut to just the one.
The truth is, Premium Bonds can be very profitable for the lucky few who win the big prizes, but most investors will find that they could earn more investing in an ISA.
- MoneyExpert: Premium Bonds Celebrates 50th Year With Multiple-million Giveaway (September 13, 2006)
- Odds of Winning The Lottery (October 10, 2005)
- Do You Believe These 50 Money Myths? (September 23, 2007)
- This Is Money: 50 Years Of Premium Bonds (November 1, 2006)
- Motley Fool: Invest. What’s The Worst That Could Happen? (August 25, 2006)