Premium Bonds are a very popular not only in the United Kingdom but also in the other countries of the world. In this article, we would like to provide the best information about national savings and investments premium bond. NS&I is a UK based organization ns&i is one of the major savings organization’s in the United Kingdom with over 25 million brokers and more than £135 billion invested. NS&I is both a government department and an Executive Agency of the Chancellor of the Excheque. This information based on the worth of these type of bond and how can you get benefits from them.In UK Premium Bonds are the biggest saving products. It’s been saying that more than 22 million folks in the UK are spending over £68 BILLION in this specific type of investment. The main fact or reality why people are investing in them is it is tax-free. Yeah! It’s right UK Premium Bonds are free of tax.
NS&I Premium BondsIn UK premium bonds are a kind of saving accounts where you can put the money in and can withdraw anytime when you want. You can buy £1 bonds and each of the bonds have an equal chance of winning. So the tip is, the more you buy the more you have the chance of being the lucky winner.
National savings and investments premium bonds LimitationsFollowing 3 are the limitations that apply on NS&I Premium Bonds.
- Maximum Purchase amount.
- Maximum Amount you can hold.
- Age Limit
- £100 (or £50 for monthly standing orders).
- Your age min should be 16 to buy them.
NS&I Premium Bonds Prizing LevelThe reward amount is not fixed for them as its changes each month. But below mentioned table shows a picture of prize current distribution.
|Prize Level||Number per month||Odds of winning at least this amount per £1 bond|
|£1 million||2||1 in 34,324,121,998|
|£100,000||3||1 in 13,729,608,271|
|£50,000||4||1 in 7,627,555,613|
|£25,000||11||1 in 3,432,398,062|
|£10,000||26||1 in 1,492,346,427|
|£5,000||51||1 in 707,710,578|
|£1,000||1,315||1 in 48,617,512|
|£500||3,945||1 in 12,814,623|
|£100||21,374||1 in 2,568,102|
|£50||21,374||1 in 1,427,044|
|£25||2,240,160||1 in 30,000|
Final Words about UK Premium Bonds
I would suggest you have a rational eye on the Premium saving Bonds as they are the serious place to place your savings if you are the lucky one or lucky enough. Even though if you are paying a good tax then it could be an opportunity for you to save your tax and open saving accounts in bank. We all know that premium bonds can’t be passed on if you die, it will remain open for 12 months. But don’t be worry anymore we will guide you a way to pass them. There is only one way to pass them is to cash them. Then the owner who cashes the bonds need to distribute among the beneficiaries. Most of the people have thoughts like this “I’m likely to get about 1.15% and there’s a small chance of winning a million”. But as far as our analysis is concern this is not true. If you know you are lucky enough, then investing in Premium Bonds isn’t a bad plan.