Premium bonds part of balanced investments portfolio, financing expert claims

Tue, 17 Apr 2007

Consumers looking to start saving money have been alerted to the potential for high returns on investments from premium bonds in the run-up to an anniversary super-draw.

Savings customers who move money into premium bonds by April 30th 2007 will see their investments automatically qualify for a draw in June, which offers a full five jackpots instead of the usual two.

This means that an extra three people will win the £1 million jackpot this summer, as well as a host of smaller savings prizes as well.

As is usual, all winnings are exempt from both capital gains levies and income tax , prompting Kevin Mountford, head of savings at independent financing website moneysupermarket.com, to suggest the savings bonds are "a good option as part of a balanced portfolio".

"Premium bonds are often a forgotten savings vehicle when in actual fact they can be a worthwhile investment - as proved by 50 years in the business," he added.

Premium bonds have gained exposure in recent years thanks to a high-profile national TV campaign starring celebrity entrepreneur Sir Alan Sugar.

Sir Alan is currently appearing on the nation's screens in the third series of business-oriented reality TV show The Apprentice.

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