The amount that your clients can invest is £50,000, giving investors more chances to win tax-free prizes. In addition to this ERNIE picks two £1million jackpot winners.
Who is this suitable for?
- Clients wanting the chance every month to win a £1 million jackpot and other tax-free prizes
- Clients wanting to make the most of tax-free investment opportunities
- Clients that have £100 or more to invest
- Clients who want 100% security for their money
Who is this not suitable for?
- Clients wanting a regular income from their savings
- Clients who are looking for guaranteed returns
- Clients who are concerned about inflation eroding the value of their savings
- Clients who want to buy them as a gift, unless for their child, grandchild or great-grandchild
FAQs about Premium Bonds
A new contract was awarded to Matrix Capital in February 2018, running for three years from 1 April 2018, with the option of 2 additional 12 month periods.
When NS&I decides to re-tender this contract we will notify the industry of the requirements and how advice firms can apply.
It’s true to say that more Bonds have been bought since 2000, so consequently there would be more recent winners. However that’s not always the case. For example a few years ago the £1 million jackpot was won by a customer with only a £17 holding, who bought them in 1959!
Clearly the more Bonds held the greater the chance of winning. However it is completely random and someone with only £400 invested in Premium Bonds won the £1 million jackpot in the first draw of 2015. A few years ago, the same happened with a client who held just £17 in Premium Bonds.
No. ERNIE – the Premium Bonds draw machine – generates random numbers in the monthly draw. The first one that comes out that matches a Premium Bond number wins the first £1 million jackpot, and so on. So it is completely random
Although it’s true to say more Bonds are held in the South East of England than anywhere else, winners regularly come from other parts of the country. For example both winners of the £1 million jackpot in the January 2016 draw were from Leicester.