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" Interest is paid on the bonds" -- AFAIK, no. the interest is what is goes towards the prizes -- Tarquin
I got that from inaccurate second-hand information: my fault. According to the official web site, no interest is paid, so I have amended the article. -- Heron
Sorry, this makes no sense. I used to teach maths, and I tried to work out the logic of this statement, but there isn't any (there is a similar statement elsewhere in the article). The interest rate has nothing to do with the odds of winning, since the latter is to do with the number of discrete prizes relative to the number of bonds in existence at the time of the draw (and not with the total jackpot or the distribution curve of the values of the discrete prizes). — Preceding unsigned comment added by 82.68.94.86 ( talk) 18:00, 6 February 2015 (UTC)
Didn't Macmillan receive a lot of flak for introducing this scheme? It was viewed by the moral puritans in the Conservative party as gambling? It is interesting to see how successful this scheme became, in spite of the early criticism.
Although I don't have them, I have read that the prize draw money is now paid differently than is in the current table. I am sure there is now only one 1 Million pound prize. I also believe the mid range prizes are about 5% of the prize fund now. —Preceding unsigned comment added by Switchbackk ( talk • contribs) 08:42, 21 April 2009 (UTC)
Autochthony writes. Why not refer to the NS&I Website: http://www.nsandi.com/products/pb/overview.jsp. Autochthony. 5 June 2009. 86.161.194.33 ( talk) 19:48, 5 June 2009 (UTC)
Autochthony writes. National Savings advise that the maximum holding level has been: - 01-11-56 £500 01-08-60 £800 21-04-64 £1000 14-04-67 £1250 01-04-71 £2000 11-09-78 £3000 21-04-80 £10,000 03-04-93 £20,000 12-05-03 £30,000 Not sure where to add this in the Article. Autochthony 7 June 2009 86.161.194.33 ( talk) 19:48, 7 June 2009 (UTC)
"ERNIE's output is independently tested each month by an independent actuary appointed by the government, and the draw is only valid if the output passes tests that indicate it is statistically random."
So then: is the output truly random? Or has it had constraints put on it — such as having to pass a statistical test? Paul Magnussen ( talk) 16:53, 9 October 2013 (UTC)
-- Yes, it is "truly random" as the numbers are generated by a random physical process not an algorithm, as explained in the text. The statistical tests are to verify that it IS random. 146.198.175.95 ( talk) —Preceding undated comment added 11:26, 24 August 2019 (UTC)
A friend who is a UK citizen resident in the USA tried to buy UK Premium Bonds but was told by NS&I,
"The US Postal Service Law Department has told us it is an offence against their Lottery laws to use the mail service for Premium Bond correspondence. This includes Premium Bond prizes.
They have asked us not to break their laws and we have to respect that request as far as we can. Due to this law I regret to inform you that you can not invest into, or hold, NS&I Premium Bonds from the United States of America.
Even if you gave us a receiving address outside the USA, it would not be a solution because we would still need your signature for a prize win."
Hey, ho. Calling it a lottery was the only mistake. Preference shares are a less safe "investment" - maybe the US should consider Wall Street a lottery. Home of the paternalised, land of the overregulated? p.r.newman ( talk) 11:08, 31 December 2013 (UTC)
I find it distasteful that the only source that says the US considers them illegal is the NS&I site. They should stop sending these letters and let American citizens manage our finances legally just like we always do. 89.240.138.241 ( talk) 08:50, 15 August 2021 (UTC)
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Cheers.— cyberbot II Talk to my owner:Online 06:24, 5 July 2016 (UTC)
The author Dornford Yates has Premium Bonds in Chapter 9 of his book “Jonah and Co.”(1922). Was there an earlier version? 12.201.7.201 ( talk) 00:35, 21 April 2018 (UTC)
The rate will drop from 1.4% to 1.3% from May 2020 draw, with a corresponding cut to chances of winning prizes. 213.253.7.254 ( talk) 11:13, 18 February 2020 (UTC)