Re: Premium Bonds
From the Premium Bonds web Page:-
See below.
If the payout is 1% where does the 99% go?
If the odds on winning is 34, 500 , for every £1 bond how is your investment holding up? (if you have 35000 invested, shouldn't you expect to be winning almost every time?)
"Essentials at a glance
What are the odds of winning? 34,500 to 1 (for every £1 Bond)
What's the interest rate? 1.00% (annual prize fund rate)
Will you pay tax? No. All prizes are tax-free.
What's the min. to pay in? £25
What's the max. to pay in? £50,000"