Premium Bonds

(asked on 15th April 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the £50,000 maximum limit of investment in Premium Bonds to provide an additional incentive to invest and support the post-covid economy.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 22nd April 2021

The current Premium Bond investment limit is £50,000, which is also set out in UK legislation. In line with NS&I’s operating framework, when setting the Premium Bond investment limit, HM Treasury and NS&I must strike a balance between the differing needs of savers, taxpayers and the wider financial sector. While some customers may wish to invest more than the current limit in Premium Bonds, raising the limit can lead to the scheme becoming dominated by a small number of people with large investments. Customers are sensitive to taking part in a prize draw in which some people hold a very large number of bonds. NS&I offer a number of other savings products with a higher investment limit than that of Premium Bonds.

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