The limit on Premium Bond investments will increase by £10,000 from Monday 1 June to a maximum of £50,000, NS&I has announced.
The move was first announced in the Budget 2014. It comes 12 months after the Premium Bonds limit was increased from £30,000 to £40,000 with a second £1m prize winner also being introduced from August 2014. NS&I said the total amount invested in Premium Bonds had increased from £19,7bn in 2003 - when the limit was increased from £20,000 to £30,000 - to more than £53bn. It said total investment value has increased by £6bn since last June and it expects the total amount will increase again following changes on 1 June. NS&I chief executive Jane Platt said: "Premium Bonds are one of th...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes