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Article: Is Ernie a nice earner? Prizes are down, but Premium Bond holders can still make money, as Teresa Hunter finds out
- Article from:
- The Sunday Telegraph London
- Article date:
- February 24, 2002
- Author:
CopyrightCopyright 2002 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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Just how lucky do you feel? Judging from the boom in sales of
Premium Bonds, falling stockmarkets combined with poor returns from
deposits have turned Britain into a nation of gamblers.
Sales of Premium Bonds, which have more than quadrupled to pounds
17bn over the past eight years, reached a record level in January
when investors took a punt with an extra pounds 410m. Their lure is
the monthly chance to win the top pounds 1m prize. This may seem like
small fry compared to the rollover jackpots won on the National
Lottery, but, unlike the lottery, you don't lose your initial stake
if your numbers do not come up.
With stockmarkets in the doldrums and savings rates falling, it is
easy to see ...