The number of Premium Bond prizes is being reduced following the recent cut in the Bank rate to 3%.
National Savings & Investments (NS&I) said the total Premium Bond prize payout would drop from £87.8m this month to about £57m in January 2009.
The number of Premium Bond prizes will fall from 1.54 to 1.1 million.
Bugger.... and just as I had persuaded my daughter to invest in them to the max for at least 12 months until all this banking chaos s*it calms down.
100% safe with the chance to win 1m. As ever, diverse investment strategy required...
Prize find linked to interest rates - no surprises for me!
Justin.
Me neither, but there's no accounting for stupidity, gullibility or greed.
In message , Daytona writes
I think of PBs as an interest-free loan to the Guvmint, just as I regard the purchase of a Lottery ticket as a voluntary tax.
Of course, somebody wins...
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