Premium Bonds Investment Cap Raised to £40,000

FUTURE PROOF: You can now own £40,000 Premium Bonds up from £30,000. The increase is one of the “support for savers” measures announced in this year’s Budget

Emma Wall 28 May, 2014 | 2:58PM
Facebook Twitter LinkedIn

Savers can now squirrel a further £10,000 from the tax man, as National Savings & Investments ups the lifetime limit on Premium Bonds.

As of today, you can own £40,000 of the tax-efficient savings products, up from £30,000. The increase is just one of the many “support for savers” measures announced in this year’s Budget by Chancellor George Osborne.

More than 20 million people are reported to own Premium Bonds, and every bond has a 24,000-to-one chance of winning a prize. NS&I hold a prize draw monthly, with at least one £1 million pay-out, around three pay-outs of £100,000 and up to two million £25 prizes. Nationwide, there are currently nearly 900,000 unclaimed Premium Bond prizes worth more than £40 million. There is no time limit for claiming prizes.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

About Author

Emma Wall  is former Senior International Editor for Morningstar

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies       Modern Slavery Statement