Premium Bonds make a stand

By SIMON MOON
Updated:

 

SAVERS looking for a chance to win £1m will soon be able to invest in Premium Bonds on a regular basis by setting up a standing order with their bank,

From Monday, 18 October, customers will be able to put at least £50 a month towards buying bonds, with no limit on how much can be invested each month providing the maximum holding of £30,000 is not exceeded.

Customers who already have Premium Bonds can set up a standing order straight away, but new customers will need to make an initial purchase of at least £100.

Standing order mandates will be included in all welcome packs for new Premium Bond purchases or can be requested by calling National Savings & Investments (NS&I) on 0845 964 5000.

The popularity of Premium Bonds has grown dramatically over the past five years as the amount invested has more than doubled to over £25 billion.

NS&I says: 'On average, customers make new investments worth £400 million each month and over 140,000 customers already make multiple investments throughout the year. This new scheme provides an easier way to invest regularly.'

More than a million Premium Bond prizes are drawn each month, with a top prize of £1m.

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