A recent announcement by National Savings & Investments means that the number of Premium Bonds prizes available each year has increased rapidly.
The total number of £100 prizes each year will now more than double, taking the tally to some 160,000. Overall, the % of money given away as prizes has increased to some 3% with immediate effect and will increase to 3.2% from December 2004. This compares with the previous rate of 2.8%.
There will now also be 5 prizes of £100,000 each, up from the previous total of four. There are also increases in the number of £25,000 and £10,000 prizes.
Premium Bonds are seen by many as an alternative form of investment that may be easier to understand than the stock market. As ever, if you're thinking of making personal finance decisions then you should first talk to an independent financial adviser.