Financial guru Martin Lewis has called out a “complete urban myth” surrounding National Savings and Investments (NS&I) Premium Bonds, one of the UK’s most popular savings products.
Speaking on his Martin Lewis Podcast on BBC Sounds, the Money Saving Expert founder clarified how Premium Bonds work, dispelled misinformation, and provided valuable tips for savers looking to understand the odds of winning.
What Are Premium Bonds?
NS&I Premium Bonds allow individuals to save money in a government-backed account while having the chance to win tax-free monthly prizes ranging from £25 to a jackpot of £1 million. The minimum investment is £25, and the total prize fund is determined by a monthly interest rate, which is distributed through a prize draw.
Martin Lewis has long maintained that while Premium Bonds are not the highest-return savings option, they offer a secure, tax-free, and often enjoyable way to save — especially for those who value the chance of winning big.
For more information or to check if you’re a winner, visit: nsandi.com.
