asked the Minister for Finance the value of prize bonds at present held by his Department; if he will express the prize money paid on these bonds as an interest dividend; and the way in which this compares with the present interest rate.
Written Answers. - Prize Bonds.
108.
The value of prize bonds outstanding on 31 January 1988 was £83.9 million and the prize money paid is equal to an annual interest rate of 6½%. This rate of interest is broadly in line with interest rates offered on other small savings schemes, e.g. savings bonds offer up to 6.4%, while savings certificates offer up to 7%.