Budget 2014: Premium Bond limit to rise but chances of winning could fall

Former_MSE_Michael · 19 March 2014 at 5:29PM

"Savers will soon be able to stash away more cash in premium bonds after the Chancellor announced the current limit will rise"

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Budget 2014: Premium Bond limit to rise but chances of winning could fall

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strawfoot · 1 April 2014 at 5:18PM

Rather than add a single £1 million prize it would have been wiser to add more small prizes. e.g. 100 prizes of £10,000 or 1000 prizes of £1000– I think Premium Bond investors would find this a more attractive proposition. Most people would like to see some return on their money and smaller prizes will provide more frequent payouts. Adding another £1 million prize just means that everyone will have an even smaller chance of winning any prize.