NATIONAL SAVINGS
Synopsis: The maximum investment in premiums bonds increased to £50,000 on 1 June.
Date posted: Tuesday, June 02, 2015
The 2014 Budget gave a multi-stage fillip to National Savings & Investments Premium Bonds, with an increase in the maximum investment from £30,000 to £40,000 from 1 June 2014 and, two months later, a doubling of the number of £1m monthly prizes (to two!) together with a 0.05% increase in the pay out rate (see our earlier Bulletin).
1 June 2015 marked the final stage of the improvements, with the maximum investment rising to £50,000. There have been no further changes to the interest rate for the prize money, which remains at the 1.35% set in August 2014 because there is no revision to the pattern of prizes: the main reason for the extra 0.05% in 2014 was to avoid reducing the number of prizes to finance the extra £1m draw. Those tempted to add another £10,000 to their holding might like to contemplate the pattern of June’s prize distribution, detailed below.
