Are Premium Bonds safe? NS&I's security promise explained amid savings warning

PREMIUM BONDS are among a number of savings options available from National Savings and Investments (NS&I). A savings warning has been issued this week following the UK entering a recession - perhaps prompting some to ask whether Premium Bonds are safe.

From Premium Bonds to Income Bonds, many savers have opted to store their hard-earned cash with NS&I. The former savings option doesn't pay out monthly interest, but instead eligible Premium Bonds are entered into a monthly prize draw.

The odds of winning are currently 24,500 to one, but the top prize each month comes in at a £1million tax-free jackpot.

Other savings products offered by NS&I include the Direct ISA, Direct Saver, and Income Bonds - with the latter...
source: Express

2020-08-13 21:38
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