Premium Bond withdrawal & reinvestment

Money, investing, mutuals etc
Richard Frost
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Re: Premium Bond

Post by Richard Frost » Mon Nov 04 2024 5:34pm

As of December's draw, the premium bond prize fund rate will fall from 4.4% to 4.15%.

The odds of winning any prize will also worsen to 22,000 to 1, from the current rate 21,000 to 1. These are the worst odds since August 2023.

NS&I claims the cut is in response to tumbling rates across the savings market. An estimated £28m will be shaved off the total value of prizes, and the total number of prizes fall by almost 300,000.

There will still be two jackpot winners, but the number of prizes worth between £5,000 and £100,000 will drop by 209.

The total number of lower-value prizes worth between £50 and £1,000 will also fall by 284,000. However, £25 prizes – the lowest amount you can win – will be boosted by 10,866.
Info from Which? newsletter 4/11/24
Thanked by: Beachboy, Kelantan

Richard Frost
Posts: 13544
Joined: Tue Jun 29 2010 8:14pm
Location: Eastbourne
Has thanked: 2909 times
Been thanked: 6949 times

Re: Premium Bond withdrawal & reinvestment

Post by Richard Frost » Thu Nov 28 2024 12:27pm

Premium Bonds prize rate cut AGAIN

It's the third rate cut announced this year and comes just a month after the last. In the January draw the prize rate will be 4%, down from 4.15%.
Thanked by: Kelantan

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