Premium Bonds Have Come Under Fire From Various Groups
Premium bonds have come under fire from various groups. This government plan to give a saving opportunity to the common man allows people to buy premium bonds for a chance to win a fifty to a million pound cash prize. Unlike American lotteries, the money that you invest to buy the bonds can be used again and again during the monthly drawings. The bonds you invest in, the more you have a chance to win. The can buy up to thirty thousand premium bonds in your lifetime and the cash winnings can add up nicely if you are consistent.
Are Premium Bonds Worth It?
Premium bonds are becoming more popular everyday. Millions of people are investing in these bonds and some are questioning if they are really worth it. Premium bonds were introduced in 1956 as a way to get the public to invest into the British Government. This was set up like a lottery so that the common man could save and at the same time have a chance to winning millions of pounds. Nearly twenty million people, a third of the population now owns at least one premium bond. Investors can buy these bonds directly from the post office or they can purchase from the National Savings and Investment firms.
Randomness in the Premium Bonds Market
Some people wonder about the randomness of the premium bonds lottery that is conducted each month. The randomness has been under scrutiny in the past and the National Savings and Interest agency, the people who conduct the lottery are scrutinized by an outside agency to provide security so that winners have an equal chance.