The Advantages of Putting Your Savings into Premium Bonds

Premium Bonds are a savings account offered by National Savings and Investments (NS&I). They are a popular choice for savers because they offer the chance to win tax-free prizes, while your money is 100% secure.

Here are some of the advantages of putting your savings into Premium Bonds:

• Your money is safe and secure. Premium Bonds are backed by the UK government, so your money is 100% protected.

• You could win a big prize. There are 1 million prizes to be won each month, ranging from £25 to £1 million. The odds of winning are 1 in 45,000, so you have a better chance of winning with Premium Bonds than you do with the lottery.

• Your money is accessible. You can withdraw your money from Premium Bonds at any time, without penalty.

• Premium Bonds are tax-free. Any prizes you win are tax-free, so you don't have to worry about paying any tax on your winnings.

Recent Winners

In the last eight months, two Premium Bond savers have scooped the top £1million prize. One of the winners, based in Essex, purchased the winning bond in April 2023. This was only the the third draw since it was purchased, with the winner having a total of £23,000 saved in Premium Bonds.

The other winner, based in Scotland, purchased the winning bond in December 2022. This was their first time buying Premium Bonds, and they won the £1million prize on their very first draw.

These recent wins show that anyone can win big with Premium Bonds. So if you're looking for a safe and secure way to save your money, with the chance to win a big prize, then Premium Bonds are a great option.

How to Buy Premium Bonds

You can buy Premium Bonds online, by phone, or by post. You can buy as little as £25 worth of Premium Bonds, and there is no maximum amount.

To buy Premium Bonds online, you will need to create an account with NS&I. You can then use your debit or credit card to buy Premium Bonds.

To buy Premium Bonds by phone, you can call NS&I on 0808 100 0268. You will need to provide your name, address, and bank details.

To buy Premium Bonds by post, you can download a Premium Bonds application form from the NS&I website. You will need to complete the form and send it to NS&I along with a cheque or postal order for the amount you want to buy.

Conclusion

Premium Bonds are a great way to save your money and have the chance to win a big prize. They are safe, secure, and accessible, and you don't have to pay any tax on your winnings. So if you're looking for a safe and secure way to save your money, with the chance to win a big prize, then Premium Bonds are a great option.

Here are some additional tips for buying Premium Bonds:

• The more bonds you buy, the better your chances of winning.

• You can choose to have your winnings reinvested into more Premium Bonds, which will give you even more chances of winning.

• You can check your Premium Bonds balance online or by phone.

• You can also set up a regular savings plan with Premium Bonds, so that you can save money automatically each month.