Premium Bond Prize Cut

National Savings & Investments have announced that from April onwards one of the two monthly Premium Bond jackpot prizes of £1 million will be replaced by a wider variety of prizes in the monthly prize draws.

This should allow more people to win a prize whilst still having an opportunity to scoop the £1 million jackpot prize. A new £25 Premium Bond prize is to be introduced as the previous lowest prize on offer was £50. The current odds of each £1 Premium Bond number winning any prize will stay the same at 36,000 to 1, so with average luck an investor with £30,000 in Premium Bonds could win 10 tax-free prizes a year.