The article discusses the popularity of National Savings and Investments (NS&I) Premium Bonds as a savings option. Martin Lewis, on his podcast, highlights their safety due to government backing and explains the prize draw system, where every bond has an equal chance of winning despite common myths. He clarifies that the belief that new bonds win more often is simply a result of having more new bonds in circulation. Monthly prizes can range from £25 to £1 million, offering a unique blend of safety and potential earnings.
Every penny you've got in there is backed up by the government. The only way you could have a problem is if the government went bust - then we'd all have bigger problems.
I often get asked, I've had my premium bonds a long time but haven't won anything, will I be better off buying new bonds because they seem to win more? Complete urban myth.
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