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Premium Bonds is a lottery bond scheme organised by the United Kingdom government since 1956. At present it is managed by the government's National Savings and Investments agency. The principle behind Premium Bonds is that rather than the stake being gambled, as in a usual lottery , it is the interest on the bonds that is distributed by a lottery.
Everything you need to know about premium bonds. ... Every £1 entered has a 22,000-to-one chance of winning. The minimum investment is £25, while the maximum is £50,000.
For premium support please call: 800-290-4726 more ways to reach us
For premium support please call: 800-290-4726 more ways to reach us
All prizes are tax free and, with approximately 84 billion bonds issued, the chances of any one bond winning a prize for a given month are approximately 24500 to 1. However, if a bond wins a prize, that bond is not redeemed but remains 'in the pool' for all forthcoming draws (at least until the bond-holder decides to redeem it.).
The 1956 Finance (Miscellaneous Provisions) Act [2] is the primary legislation under which the bonds are authorised; the similar concept of Premium Bonds were introduced in the United Kingdom at the same time. Bonds were first sold in March 1957, with the first draw held in September of that year.
For premium support please call: 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: ... You can cash in a savings bond one year after buying the bond ...
1908: The Economist 12 Sept. 477/2 "The practical man in the street who knows anything about premium bonds is quite aware that they are in their nature and intention lotteries." 1931: The Star 8 May 6/3 "Every trick—from premium bonds to guessing the number of beans in a bottle—seems to have been tried."