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.

[An.Individual]

WARNING this video does NOT answer the question in the title

[carolcroft]

2018 and no subtitles? Try harder Which?

[paulwarren]

poxy £25. a month if your ''lucky''..

[TheDdm]

No they are not worth buying because when you want to cash in, it is a bloody nightmare!

[dino_sore_asd]

Getting folk to buy things they can't afford..which? You should be ashamed