With deposit rates around 1.00%, Premium Bonds are increasing attractive for many seeking security with the possibility of a £1 million win.
ERNIE turns 60! The first premium bond was sold on 1st November 1956, with £5 million worth of premium bonds sold on the first day alone. There are now 21 million people holding more than £63 billion in premium bonds, proving that they are still a popular form of investment. The first draw was held on 1st June 1957 for a top prize of £1,000. In the intervening six decades, £17 billion has been handed out in the form of 355 million prizes using updated versions of the original electronic random number indicating equipment (that’s ERNIE to you and me). With premium bonds celebrating their 60th birthday last month, it’s a great opportunity to look at just how good an investment opportunity they are to add to your portfolio.