Premium Bond minimum win to be cut to £25
Published: 21 January 2009 By MoneyhighStreet Staff 1 Comment
National Savings & Investments (NS&I) have today announced that they will be introducing a new £25 Premium Bond prize amount.
This new amount will not be introduced before 1 April 2009.
It will be an additional Premium Bond prize alongside the others already in place, ranging from £50 to £1 million.
NS&I say they have introduced this new prize amount as customers are looking to receive prize wins more frequently. Introducing the lower prize amount allows NS&I to support this.
NS&I have also confirmed that despite the drops in the Bank of England base rate, the Premium Bond prize fund rate will remain at the current level at 1.8% for at least the next 2 months prize draws, February and March 2009.
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