They had been a customer for more than 35 years
A Premium Bonds holder expressed disappointment after discovering they had won no prizes despite holding their Bonds for 37 years. The saver revealed on X: "My mom bought £10 worth of Premium Bonds in 1987 for me when I was two years old. She did a clear-out recently and found the details. I signed up with NS&I to keep track of it and I was absolutely amazed to discover that it's now worth...a grand total of... £10.
However, savers should be aware that if they don't win any prizes, although the amount they invest will stay the same, it will in fact lose its value to inflation as everyday prices rise. For instance, the £10 invested for this customer in 1987 would have been able to buy £28.02 worth of goods in today's money, according to the Bank of England's inflation calculator.
"This ratio remains the same for a holder of £1 as it does for one with the maximum holding of £50,000. The only distinction between them is that the holder of £50,000 has more 'entries' into the monthly draw. Good luck in future prize draws." Experts at Martin Lewis Money Saving Expert site have calculated that to have a decent chance at winning, a minimum investment of £10,000 in Premium Bonds is necessary.
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