A surprising casualty of the downturn
I was gutted to check on the list of top Premium Bond prize winners only to find that the number of prizes ranging from £5,000 to £1m has been dramatically cut. There are still 2 prizes of £1m, but only one prize of £100,000. Other medium and high value prizes have also been cut. This is the direct result of the cut in interest rates announced by the Bank of England to get the economy moving. I guess that we all get caught up in the excitement of maybe winning a big amount of money and forget that the money we invest is susceptible to interest rate fluctuations.
The good news is that once the rate recover so will the amount of prizes. It’s just a case of sitting it out.
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Nice Site layout for your blog. I am looking forward to reading more from you.
Tom Humes