Quick Premium Bonds Question

rich_od

Hi, been following the advice on this forum for a while now and have a bit of spare money and want to give Premium Bonds a go (£1500.00)

I thought that each bond was for the value of £1 so £1500 will buy me 1500 goes at winning the jackpot. When looking at the nsandi winners list it has a holding amount and then a bond value which looking at the top winners nobody has a bond value of £1 ie I won't get 1500 goes at the jackpot... How does this work? Am i getting the wrong end of the stick?

Mikeyorks

Each bond does have a value of £1 ..... and has it's own individual number which is entered in the monthly draw. But the minimum purchase is £100 ..... and you get 100 consecutive numbers for that. Which is the bond value you are viewing (in which is contained one £1 prizewinning bond).

rich_od

Mikeyorks wrote: »

Each bond does have a value of £1 ..... and has it's own individual number which is entered in the monthly draw. But the minimum purchase is £100 ..... and you get 100 consecutive numbers for that. Which is the bond value you are viewing (in which is contained one £1 prizewinning bond).

Ah gotcha - so the winner this month bought £500 worth of bonds and it was within that even though in total he has more than £500

Thanks,

Sceptic001

For quite a few years after Premium Bonds were introduced it was possible to buy £1 bonds individually (when £1 was not regarded as small change). The minimum purchase has gradually increased over the years as successive governments have debased the currency. :mad: