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What prizes are there for premium bonds
The change means that the odds of winning a Premium Bond prize with a single bond will improve from 30,000 to 1 to 24,500.
According to NS I, the ernie machine cannot be manipulated in any way.
The distribution of prizes changes each month.
The "rate" is also problematic.Paperwork weighing you down?The 21 million holders of Premium Bonds do not receive any interest but are put into a draw each month with the chance to win up.Jill Waters, Retail Director at NS I, said: Im delighted for our two jackpot winners and all of our customers who are receiving a boost this month.When reporting total unclaimed assets held by NS I (including accounts, Certificates, Bonds, unclaimed Premium Bonds prizes and other products NS I defines unclaimed holdings as those with no customer contact for a period of 15 years or more.Mays draw, for instance, was actually made in the final week of April.You can instruct NS I to pay bonds straight into your account or automatically reinvest them in more bonds.It is possible for a number to be generated twice by ernie; however, only the first appearance will count (earning the higher-value prize) as a single bond can only win one prize per draw.NS I sexes up the draw by personifying its IT equipment; it calls it Ernie (Electronic Random Number Indicator Equipment).So, what can you do to increase your chances of winning?At an effective interest rate.4pc beats many easy-access savings accounts, said Sarah Coles of Hargreaves Lansdown, the stockbroker.It pays to keep your details up to date.
Premium Bonds are one of the most well-known financial products in the UK, and perhaps the only product to regularly generate public excitement.What if Ive changed address?Ernie generates a series of random numbers.Below is a table of the typical current distribution: prize level, number PER month, oDDS OF winning AT least this amount PER 1 bond IN ONE carmat world discount code month 1 million 2 1 in 35,926,766,878 100,000 4 1 in 11,975,588,959 50,000 10 1 in 4,490,843,843 25,000.The Government-backed provider said it would increase savings returns, including the amount paid in Premium Bond prizes, from Dec.Be the first to comment Do you want to comment on this article?How long does it take for bonds to be entered into a prize draw?At present, the target interest rate of the fund.4 and the odds are 24,500.
Both of this months winners are signed up to receive their prizes electronically, with the winner win adele tickets dc from Suffolk signed up to have prizes paid directly into his bank account and the winner from South West Wales opted to have his prizes reinvested into Premium Bonds.
Each month we stress the importance of customers keeping their details up to date, and its reassuring to see that more and more people are signing up to have their prizes received electronically.
The vast majority of bond holders will earn less than the.4pc rate as payouts are not split equally between each bond.