02 November 2016
Happy 60th Birthday to Premium Bonds!
The first Premium Bond was sold on the 1st of November 1956. In today’s low interest environment and uncertain economic outlook they remain as relevant today as they have ever been and arguably more so.
Here’s how they work.
- You can invest anywhere between £100 and £50,000
- Every £1 is allocated a unique number that is entered into a monthly prize draw
- The winners are picked by ERNIE (Electronic Random Number Indicator Equipment)
- The chances of winning for each £1 entered is currently 30,000 to 1
- Prizes range from £25 up to the top prize of £1m
- All prizes are Tax Free
Why do LSNIFA think they are relevant?
- They are 100% secure because they are Government backed
- They provide a great secure foundation to a client’s Emergency Cash fund planning
- They are a fantastic gift for children or grandchildren because they don’t run out
- Interest rates on Bank & Building Society Cash accounts are at an all-time lows so savers aren’t missing out on that much interest
- And who knows, you just might win!
If the National Lottery announced this week that you could buy a ticket and if your number didn’t come in you could turn up on Monday and get your money back, would you be tempted? In reality that’s exactly how Premium Bonds work.
For more information visit http://www.nsandi.com/premium-bonds
If you’d like to know more or see if they may be appropriate for your circumstances then get in touch. E-mail info@lsnifa.com or call 028 9023 0696. We’re here to help.
Law Society (NI) Financial Advice Ltd are authorised and regulated by the Financial Conduct Authority