Are premium bonds worth buying?

Premium bonds are still the nation's favourite, but are they worth it? We weigh up the pros and cons of this popular tax-free NS&I savings product. Instead of paying interest, like traditional savings accounts, every premium bond is entered into a monthly prize draw, with winners being selected at random by National Savings & Investments (NS&I). You can win tax-free prizes worth £25 to £1m every month, and buy premium bonds on behalf of children. NS&I is backed by the Treasury so 100% of your money is safe. However, the maximum you can invest is £50,000, and you won't get a guaranteed return on your money or a regular income. Landing a prize is a lottery so you could win nothing at all. For more expert advice visit https://ift.tt/2nBgOzG Which?: http://www.which.co.uk Twitter: https://twitter.com/whichuk Facebook: https://ift.tt/1fAOmna