Prize Fund Distribution
The size of the prize fund on offer is equal to one month's interest on all bonds eligible for the draw. The annual rate of interest is set by NS&I and was 1.5% as of July 2012. The following table lists the distribution of prizes on offer in the July 2012 draw.
| Prize band | Prize value | Estimated number of prizes |
|---|---|---|
| Higher value | £1,000,000 | 1 |
| £100,000 | 5 | |
| £50,000 | 8 | |
| £25,000 | 18 | |
| £10,000 | 46 | |
| £5,000 | 90 | |
| Medium value | £1,000 | 1,087 |
| £500 | 3,261 | |
| Low value | £100 | 31,927 |
| £50 | 31,927 | |
| £25 | 1,743,093 | |
| Total value (July 2012) | £54,343,875 | 1,811,463 |
Read more about this topic: Premium Bond
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—Theodore Roosevelt (1858–1919)
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—Benjamin Harrison (1833–1901)
“The question for the country now is how to secure a more equal distribution of property among the people. There can be no republican institutions with vast masses of property permanently in a few hands, and large masses of voters without property.... Let no man get by inheritance, or by will, more than will produce at four per cent interest an income ... of fifteen thousand dollars] per year, or an estate of five hundred thousand dollars.”
—Rutherford Birchard Hayes (1822–1893)