The myths and conspiracies around premium bonds and the chance of winning being skewed by where you live or when you bought them are untrue; all bonds have an equal chance of winning – but most don’t.
The returns are tax-free but very poor.
The National Savings and Investments (NS&I) premium prize fund pot, expressed as the combined return to all investors in a year, is equivalent to 1.35%. In simple terms, £1 should earn you 1.35p in a year; however, for each £1million prize, 74million bonds earn nothing.
Not the most attractive sounding investment….
Read the full article from the Telegraph Here