The Premium Bonds Program Hits A Milestone in Financial History
Premium bonds have reached a milestone in financial history. At fifty years old this saving system has outlasted other government and private saving plans and seems to have enough stem to last decades to come. Not only is the premium bond a success the nation of Great Britain has embraced the bonds and actually holds an endearment for them. This is amazing for a system that doesn’t pay interest and actually rewards up to a million pounds to a single investor. Over a third of the country invests in the bonds and that account for twenty three million citizens that have a stake in their future and the future of their country.
The big winnings are just the tip of the iceberg with this saving plan. Premium bonds can be put be bought and exchanged for the exact same value as you put in. The cash prizes are just the crème on top of the milk when it comes to earnings. You don’t pay a penalty for withdraw nor do you lose anything except the meager interest that other savings plans have. All you have to do is fill out a repayment form from the National Savings and Investments agency and your money will come back to you. You usually only have to wait about a week to receive your cash in the post.
The sales of premium bonds are going out of the roof. There is a premium bond bought every ten second in the country and this accounts to about twenty one million bonds bought a day. The accessibility of purchase has increased in the last few years due to the availability of online venues. For those that are less technologically oriented they can go to the post office and purchase them in person. You have to purchase at least one hundred pounds worth of bonds to start your saving and you can even have payroll deductions or account withdrawals that will allow you to save as the purchases are put into savings automatically. You can save a maximum of thirty thousand pounds and just wait for the cash prizes to come to you.
The bonds only cost a pound a piece and this bond gives you a chance to win one of over a million cash prizes awarded monthly. The National Savings and Investment agency has a random number generator that will pick numbers off of individual bonds and then report the winnings to the bond holders. The prizes range from two million pound awards to over a million fifty pound rewards. The bonds are issued consecutively and a single investment will let you be able to keep track of your number between the lowest and the highest. The rewards are also listed online and in most town newspapers.
If you like the thrill of the lottery and the hope of free money coming your way, the premium bonds program is for you. Your money will not just sit in the bank and wait to accrue a meager interest. You will be able to get lump sumps each month if you are that lucky of a person.