Considering the blooming interest in financial investments for earning profits, the future of prize bonds seems promising and optimistic. Whether it is for government or investors, prize bonds are profitable for both the parties involved. Although the future of prize bonds already seems hopeful and positive, here are some additional tips which government can use to improve them further:
1. Forex PB Devaluation
The value of a prize bond is similar to cash money, which declines with time. To make prize bonds more attractive to investors, government should offer FOREX prize bonds in different currencies such as dollar and pounds. This will stop the prize bonds from devaluing & maintain and even increase the worth with time.
2. Premium Bonds in smaller denomination
The premium bonds are extremely good source of investment. Even if investors do not end up winning anything, they still get 3% interest rate as profit on their money. To facilitate more people, government should introduce premium bonds for smaller denominations as well because the truth is that big investors already have a lot of opportunities to invest, it is the smaller investors who need more avenues.
3. Create More Awareness
Although prize bonds are a great investment opportunity, most people don’t even know much about this mode of investment. Government should take steps to increase awareness about prize bonds. The promotions on different platforms such as events, conferences and other activities should be made to create more awareness about prize bonds.
4. Recognizing the Secondary Market
To increase the access to prize bond market, the secondary market should be made legal. There are many benefits of legalizing secondary markets as it can help in buying prize bonds easier and more convenient. It can remove reservations some people have about buying prize bonds directly from the government, as through secondary markets, they can purchase directly from their trusted dealers and agents. Secondary market is also beneficial in creating more employment, as it facilitates creation of a whole new industry generating more jobs in the market.