Want a chance to win £1 million? gamble without losing

Want a chance to win £1 million? gamble without losing - Let’s talk premium bonds

6/20/2020

Premium bonds is a savings product backed by the U.K. government that allows you to save and enter the chance to win prizes with up to £1 million instead of earning interest.

What you need to know

Start investing at £25 per month
Your money is 100% secure
Each month you enter into a raffle to win prizes worth £25 to 1 million tax free
You will not earn any interest (prizes are used instead). It might be better to use an savings account with interest rates
You can always withdraw you money

I recently found out about premium bonds whilst reading a money diary entry on Refinery29.co.uk. The diary entry said she put away £50k in premium bonds- this piqued my interest and I quickly visited NS&I to learn more.

How do Premium bonds work?
Premium bonds allows you to save monthly, it’s fully secure which means the risk of losing your money is very very low. Instead of paying monthly or annual interest to participants the equivalent interest amount is shared as prizes.

Each month a prize draw takes places and you can find out if you win. The odds are 24500 to 1- not a very high chance but the more you save, you more chances you get. In addition, whatever you win is tax free and your money can with withdrawn at anytime.

Can premium bonds grow my money?
If you are the person that has always wanted to gamble without the risk- this might be for you.

Pros

You can withdraw your money anytime
With luck, you can win a few prizes. The minimum you win is £25

Cons

Your money never grows and falls behind inflation

How to register for Premium bonds

Go to NS&I to open a Premium Bonds account( you can make a lump sum payment of a monthly payment)
(Optional) Set up a direct debit
Download the app to track progress

How I plan to use Premium Bonds
Having assessed the pros and cons, I’ve decided to allocate a minimum of £25 a month into this savings product. This is a very, very low risk strategy and since I won’t be losing my principal (the money I put in monthly) I am happy to let it it be my - I hope I get LAS VEGAS lucky magic growth pot’.

15 Comments

Cia link

1/27/2024 11:45:00 am

I was impressed by the depth of research and clear explanation in this article. It gave me a new perspective on your topic.

harry link

2/1/2024 12:43:36 pm

thanks for the post will follow this now on, kudos.
https://7xmpilipinas.com/superph/

gina moses link

2/16/2024 02:11:07 am

This post was a goldmine of information! I especially appreciated it because of how I can relate to it. You've completely shifted my perspective.

2/21/2024 12:43:19 pm

ye7 link

3/14/2024 03:57:02 am

Your writing style is also fantastic! It kept me hooked from beginning to end. It's clear you put a lot of thought and effort into it, and it definitely shows. I'm definitely going to be sharing this with my friends and family.

wowjili link

3/16/2024 07:37:33 am

I especially appreciated your point. It's something I've been grappling with myself lately, and your perspective helped me see it in a new light. Thanks again for such a thought-provoking read! I look forward to seeing more of your work in the future.

KHAY link

4/11/2024 04:24:49 am

Thank you for sharing such valuable content with your readers!
(<a href="https://www.7xm55.app/register?affiliateCode=spjiz">CLAIM FREE BONUS NOW</a>).

Jasper link

4/15/2024 10:02:11 am

Thanks for sharing this useful information! Hope that you will continue with the kind of stuff you are doing.

4/16/2024 05:02:51 am

Reading your blog post was like taking a dip in a pool of positivity! Your words have a magical way of lifting my spirits and putting a smile on my face.
(<a href="https://bettowin.ph/">CLAIM FREE BONUS NOW</a>).

PINOY GAMING link

4/19/2024 02:38:17 am

What a breath of fresh air this blog post is! Your optimism leaps off the screen and fills me with renewed hope.
(<a href="https://pinoygaming.ph/winhq/">CLAIM FREE BONUS NOW</a>).

winhq link

4/26/2024 08:17:29 am

Thank you for sharing your positivity with the world. Your blog has become my happy place, and I'm so grateful to have discovered it.

KASWERTE link

5/4/2024 12:59:57 am

Looking forward to your future posts! Your insights are so accessible and rewarding. Keep sharing your passion and expertise with us!

FF777 link

5/7/2024 03:06:48 pm

Can't wait to read more from you! Keep up the fantastic work.
(<a href="https://www.7xm55.app/register?affiliateCode=spjiz">CLAIM FREE BONUS NOW</a>).

gcash777 link

6/5/2024 10:33:50 am

Keep up the great work in sharing this valuable information!
(<a href="https://www.7xm55.app/register?affiliateCode=mkvx7 ">ENJOY FREE CREDITS</a>).

GCASH link

7/4/2024 03:48:46 am

I'm continually impressed by your unwavering positivity and grace under pressure. You embody strength and optimism in such a beautiful way.
(<a href="https://kaswerte.com/gcash777/">ENJOY FREE CREDITS</a>).

Archives

Categories

Want a chance to win £1 million? gamble without losing - Let’s talk premium bonds

Leave a Reply.