Premium Bonds

Created Thursday 29 December 2022 last update 30 January 2023

Premium Bonds are investments held at the National Savings and Investment (NS&I) in the UK. Funds are entered into a cash prize draw where the lucky winners can "win" between £25 to £1m.

Prizes are tax free and deposits are 100% protected by the UK Government.

I hold my emergency fund in this account. Although a great place for emergency funds, it will take 3 days to withdraw funds to your bank account.

More
https://www.nsandi.com/products/premium-bonds

Last interest rate: 3.15% (From Feb 2023)