Premium bonds are probably the UK’s best-loved savings product but are they worth holding?
The Savings Lottery offers 100% government-backed security, a theoretical 1% return – dependent on luck – and relatively easy access to your cash.
But a new report this week highlights just how unlikely people are to win the big prize. In fact, unless you have a large amount in bonds, you should expect a long wait for anything over £25.
But does the study stack up? What about all those readers telling us they’ve won a lot? And does it matter if you have to wait ages to win £50 or more – or are they a more useful source of regular £25 prize returns?
In this week’s podcast Georgie Frost, Adrian Lowery and Simon Lambert explore premium bonds, looking at the odds, the study on the big rewards, what our readers tell us, and also how many.
Also, talk of interest rate hike has kicked up a gear this week. Is the climb really near?
Also under discussion are energy saving measures you can take to cut your bills as price increases send more providers busting and threaten home finances.
As Meghan and Harry get the ethical investment bug, we take a look at ESG, greenwashing and how to invest to make an environmental impact.
And finally, the topsy-turvy post-Covid world has thrown a new curveball: Used cars that were one year old are now more expensive than brand new cars. How does that work? The team strives to explain and reveal the most valuable used vintage cars.
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