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Second £1m premium bond prize to launch

From August onwards, two people every month will get the chance to become a premium bond millionaire.

Premium Bonds, which were first launched in the 1950s, can be bought with a minimum of £100 and allow owners to win cash prizes.

The maximum premium bond holding will be increased from £30,000 to £40,000 from 1 June and from next year will rise to £50,000.

Julian Hynd, retail director of National Savings and Investments, explained the changes to BBC Radio 5 live's Wake Up to Money.

  • 30 May 2014
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