Jul 3 2006
Prizes worth more than £76 million have been given away by National Savings & Investments (NS&I) to premium bond holders in this month's draw.
The government-backed premium bonds offer investors 100 per cent security and the chance to win a tax-free prize ranging from £50 up to £1 million.
Bonds can be bought online, by telephone, by post or over the counter at the post office and investors stand a good chance of winning with the odds at 24,000 to one.
Over 720,000 savers in the UK currently own Premium Bonds worth a total of almost £950 million.
With average luck, an investor with £30,000 in Premium Bonds can expect to win 15 tax-free prizes a year – more than one a month.
The fund rate is 2.95 per cent tax-free equivalent to 4.92 per cent for a higher rate taxpayer and 3.69 per cent for a basic taxpayer.
JP Morgan offers a handy investment trust saving plan which will let an investor save from as little as £50 per month, for more information click on our free brochures page.
