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Premium Bonds Worth It? | Leeds News
Premium Bonds might sound tempting with their tax-free prizes and rising prize fund, but Martin Lewis warns most people are better off with regular savings accounts or ISAs. The odds of winning big are slim, and average returns fall far short of the advertised rate—unless you’ve got a serious chunk saved (over $5,000). For smaller sums or kids, standard savings offer safer, guaranteed returns. Even grandparents gifting to grandkids should consider alternatives. Premium Bonds only make sense if you’re a high-rate taxpayer who’s maxed out tax-free options—and even then, it’s still a lottery…
The skinny
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