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Media centre /
Press releasePUT A CALL IN TO ERNIE10 July 2004Customers now able to invest in Premium Bonds over the phoneFrom 12 July, customers will be able to invest in Premium Bonds over the telephone by calling 0500 007 007. National Savings and Investments (NS&I) has developed a new service that allows customers to invest from the comfort of their own armchairs, without having to fill out an application form. The new service will be the quickest way to invest in Premium Bonds, taking just a few minutes over the phone using a debit card. Customers will then be sent a confirmation form to sign and return to NS&I. It's easy to do, whether on a regular or one-off basis. The popularity of Premium Bonds has grown dramatically over the past five years as the amount invested has doubled to over £24 billion. Nationwide, 23 million people hold Premium Bonds. On average, customers make new investments worth £400 million each month. Developing services for customers Gill Cattanach, marketing director for National Savings and Investments, said, "We are always looking into more convenient ways for customers to save. "The new telephone service makes it easier than ever for customers to invest in Premium Bonds, offering them the chance of winning one of over 1 million tax-free prizes NS&I is giving away in September's draw." How to buy Premium Bonds
1 million Premium Bond prizes From 1 September 2004, the prize fund rate will go up to 2.80% per annum tax free, and on 1 October it increases again to 3.00%, with odds fixed at 24,000 to 1. The change in the prize fund rate in September means the number of monthly Premium Bond prizes increases to more than 1 million for the first time ever. Like all National Savings and Investments products, Premium Bonds offer investors 100% security, backed by HM Treasury, as well as the sense of fun that comes from winning tax-free prizes. How Premium Bonds work In July 2004, just over 877,000 prizes worth £52.2 million were awarded. The overall value of prizes paid out each month is based on the prize fund rate and the number of Bonds in the draw. This means the more money invested in Premium Bonds, the higher the overall value of prizes awarded. Ends Notes to Editors1. This press release is under strict embargo until 00:01 Saturday 10 July 2004 5. For further information, digital images, or to arrange an interview call the NS&I media team.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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