Time is at a premium to win £1m prizes

Time is running out for savers who want to be in with a chance of winning one of the five £1million jackpots in the Premium Bonds anniversary draw which marks 50 years in June since the first prize draw ever.

Kevin Mountford, head of savings at price comparison website moneysupermarket.com, said: “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.

“With the chance to win one of five £1 million jackpots those savers considering this option should move swiftly to beat the April 30 deadline. People can now find details and comparisons on all National Savings & Investments on the savings section of moneysupermarket.com.”

Premium Bonds are free of income and capital gains tax and people can invest up to £30,000. The odds of winning a prize are currently around 24,000 to one. Additionally, savers can withdraw their money at any time and without penalties and the capital is always guaranteed.

Mountford continued: “Premium Bonds are a good option as part of a balanced portfolio and, if you win the jackpot, this savings vehicle surpasses all others. So for anyone who fancies their chances at winning, they need to buy before the end of April and hang on to them until at least the June draw.”