premium bond


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Martin says: Premium Bonds keep your money safe, but pay interest based on a random lottery.
NORTH savers are missing out on more than PS1m in premium bonds prizes, new figures show.
Sadly, Premium Bonds do not hold such attractive opportunities to win that they once did and without winnings, money held in Premium Bonds devalues in real terms because of inflation.
More than a third of the population have a total of PS45billion invested in Premium Bonds, with each eligible Bond entered into a monthly draw for the chance to win tax-free prizes.
Peter Cornish, director of customer offer at NS&I, said: "Replacing one of the pounds 1 million jackpot prizes with a wider mix of prizes and introducing the new pounds 25 prize category will help us maintain the frequency of tax-free prizes - something that we know is particularly important to Premium Bond holders.
That's a bigger blow to Premium Bond holders than most have yet realised.
More than 300,000 people in Birmingham own Premium Bonds worth over pounds 200 million.
SAVERS will be able to invest a further PS10,000 in Premium Bonds from today as the maximum holding limit is being increased from PS40,000 to PS50,000.
Over a third of the population has a total of PS45billion invested in Premium Bonds, with each eligible Bond entered into a monthly draw for the chance to win tax-free prizes.
For many of us our first experiences of Premium Bonds may have been gifts given to celebrate the birth of a child, with certificates subsequently being hidden away, long forgotten.
TO check your chances of a Premium Bond win, based on the value and length your investment, go to Moneysavingexpert.
Sally Swait, Premium Bond manager at National Savings and Investments, said: "We urge anyone who believes they could have unclaimed prizes to check with us.