Published On: Tue, Sep 15th, 2020

NS&I: Two government-backed Bonds which could help Britons grow their money | Personal Finance | Finance

With just a small investment of £25 up to £50,000, Britons may get the chance to win big each month.

This is because Premium Bonds operate through a prize draw which creates two lucky millionaires each month.

While the interest rate for this account is set at 1.40 percent, this does not grow a person’s savings.

Instead, the rate goes towards the annual prize fund, which could prove advantageous for those hoping for a windfall.

Premium Bonds also create other prize winners, and sums other than the lucky £1million can rack up in the thousands.

Source link