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| Version 0 | Version 1 |
|---|---|
| Premium Bonds investment limit rises | Premium Bonds investment limit rises |
| (about 2 hours later) | |
| Investors in Premium Bonds can now add an extra £10,000 to their investment, although the chances of winning the £1m jackpots remain slim. | Investors in Premium Bonds can now add an extra £10,000 to their investment, although the chances of winning the £1m jackpots remain slim. |
| The maximum permitted investment has risen to £50,000 from the previous limit of £40,000. | The maximum permitted investment has risen to £50,000 from the previous limit of £40,000. |
| Premium Bonds are issued by government-backed National Savings and Investments (NS&I). | Premium Bonds are issued by government-backed National Savings and Investments (NS&I). |
| Instead of paying interest, Premium Bonds are entered into monthly draws for prizes. | Instead of paying interest, Premium Bonds are entered into monthly draws for prizes. |
| The investment limit rise was announced in the 2014 Budget, with the change coming into force on Monday. | The investment limit rise was announced in the 2014 Budget, with the change coming into force on Monday. |
| The chances of winning the £1m top prize with a single Premium Bond are about one in 22 billion, or the equivalent of flipping a coin and getting 34 consecutive heads. The odds of winning any prize of between £25 and £1m with a single £1 bond are 26,000 to one. | |
| People need to be aged 16 years old or over to buy Premium Bonds, although parents, guardians and grandparents can invest on behalf of their child or grandchild. | People need to be aged 16 years old or over to buy Premium Bonds, although parents, guardians and grandparents can invest on behalf of their child or grandchild. |