Premium Bond Winners – Check Premium Bonds

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The NS&I and Premium Bonds

Premium bonds were conceived in 1861. It was set up so that ordinary people could save and invest their money if case of accident or death.  The original name of the program was called the Post Office Saving Bank.  It popularity spread an soon the Chancellor was borrowing money from the funds so that he could support public projects. This gave the premium bonds a duel purpose. First the bond where considered a source of a secure investment that could not go bankrupt or could not loose value. Second the bonds were seen as a way to give the government a source of funds when taxes and other monies were not enough.

Check premium bonds.

The Post Office Bank sold saving certificates that did offer a lottery system to go with them.  In 1957 a lottery was issued once a month to persuade British citizens to invest more money. In 1967 the Post Office management changed hands and the Treasury Department took over. The program was renamed the National Savings and the Post Office became the major supplier of premium bonds. The National Savings part of it became a source of other investments besides premium bonds. In 1996 the post office became the store of the agency and the National Savings and Investment became more aligned with the Chancellor. All a citizen had to do was to go to the post office and make a hundred pound investment toward a bond purchase. They could invest until they reached the cap of thirty thousand pounds.

Siemens Corp became apart of the operation in 1999.  In an attempt to modernize the agency over 4000 agency employees were sent to Siemens schools for business to learn new investing techniques. Since then the employees have become more professional in the delivery of investment services.  New call centers were added and more technology was used in the handling of investment portfolios. Siemens will end its contract with the National Savings and Investments in 2014 and the agency will be self-sufficient in its own affairs.

Through their training, the employees of the National Savings and Investment have met goals of improved customer care and the professional implication of investment opportunities. The use of the internet has made the communication between provider and customer easier to facilitate and information about the company can be found at the stroke of a keyboard. As the popularity of premium bonds grows so will the commitment of National Savings and Investment to provide their customers with professional, friendly service.

The growth of premium bonds has skyrocketed in the past decade. The negative impact of the growth is that the chances of having your bond picked by the random number generator is widening.  Statistically the bigger the population of numbers the gap grows wider for the individual investor to be selected. Many people are pulling their premium bonds investment and putting them into traditional low interest savings accounts. This pull back from impatient investors may reverse the numbers so the chances of winning will grow.

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Are Premium Bonds a good idea at the moment?

1.8 per cent of the total bonds’ value in circulation. This means that the chance of a single bond winning a prize is 36000 to 1. Minimum investment is £100, or £50 by monthly standing order.

National Savings & Investments fetches award

NS&I is one of the largest financial providers in the UK with 28 million customers and over £83 billion invested. It is best known for Premium Bonds, but also offers High Income Bonds, ISA accounts,

National Savings & Investments

Premium Bonds can be bought online at www.nsandi.com, by telephone on 0500 007 007 (see note 5), by post and over the counter at Post Office® branches, and brochures can be picked up in WHSmith in 400 of its High Street

New NS&I Rates Announced

Cuts to interest rates from the Bank of England and government bond yield fluctuations have put pressure on NS&I.

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Are Premium Bonds Worth It?

Premium bonds are becoming more popular everyday.  Millions of people are investing in these bonds and some are questioning if they are really worth it.  Premium bonds were introduced in 1956 as a way to get the public to invest into the British Government. This was set up like a lottery so that the common man could save and at the same time have a chance to winning millions of pounds. Nearly twenty million people, a third of the population now owns at least one premium bond. Investors can buy these bonds directly from the post office or they can purchase from the National Savings and Investment firms. You can then check premium bonds at the nsandi website.

Since interest rates are falling, premium bonds are seen as a safe way to invest and at the same time have the thrill of winning one of the over million and a half cash prizes awarded each month. Fifteen percent of the prize money is used for high cash prizes and another fifteen percent is used for medium cash prizes.  The remaining seventy percent of the money was used to award lower prizes that are as high as fifty pounds. A fifty pound prize on a one bond is almost a 500 percent return. Right now you have a 1 in 21,000 chance to win, but with the bonds becoming more popular, those odds may be greater in the future.

You have to buy at least one hundred pounds to invest in premium bonds and you can only have thirty thousand pounds in an account. The bonds are backed and protected by the national treasury. Anyone who invests can be assured that when they decide to pull out their funds, the money will be there.  Anyone can invest as long as you are sixteen. Many parents buy premium bonds as a way to pay for their children’s college. Young investors can learn the value of savings and at the same time get the chance to win enough money to set them up for life.

Unlike lottery tickets, the same bond can win over and over. The more you invest, the more times you will have a chance to win. The winnings are tax-free and you can even reinvest the money you win until you reach the thirty thousand pound limit. It has been reported that the odds in winning has declined in the last ten years.  It is a matter of statistics that the more bonds that are bought the lower the chance that your bond number will be picked.

The odds are still better than the American lottery because you don’t have to buy a different ticket each time. You can find out if your bond number is picked by looking at the National Saving and Invest website. Here they list all the winning numbers and all you have to do is call or contact them for you to claim your prize. It is recorded that the National Saving and Invest firm has over five hundred thousand unclaimed prizes that they are holding for claimers.

Are Premium Bonds a good idea at the moment?

Q I Am thinking of investing in premium bonds and would like to know what the odds are of getting a prize and how safe my money will be. A Premium Bonds are issued by National Savings and Investments and are backed by the Government

Premium Bonds offer worst deal for 50 years

Britain’s 23million savers who have Premium Bonds are being hit by the worst deal since they were launched more than 50 years ago.

Premium Bond prizes held steady

The Premium Bond prize fund is to stay at current levels in February and March – despite cuts in interest rates.  

Premium Bond minimum win to be cut to £25

National Savings & Investments (NS&I) have today announced that they will be introducing a new £25 Premium Bond prize amount. 

Premium bonds go back to the 1970s with shrinking pay outs

Premium bonds go back to the 1970s with shrinking pay outs. Jan 21st, 2009. by Telegraph Politics. Payouts from premium bonds Britain’s most popular form of saving are likely to shrink yet further in April.

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