Premium Bonds Pros and Cons
Published / Last Updated on 25/03/2014
You must be 16 years or over to be able to own premium bonds. Currently the maximum you can invest is £30,000 but is going to increase.Premium bonds are backed by HM Treasury so are very secure.Premium bond payouts are tax free. The stated payout from premium bonds is 1.3% per annum. The rate may not be the best you can get when compared with other types of savings.The odds of winning a prize are 26,000 to 1.
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