Premium bonds

Ross666

Hi everyone with saving rates so low I'm going to put money in premium bonds i will have nearly the max of 50.000 witch gives me a better chance of return prizes my question is!  Backed by the treasury how safe is this? As   does any one trust our government these days ! Any premium  bond experts out there ?

Bravepants

Two things to watch out for when assessing a Government's ability to maintain Premum Bonds are:

1. the rise of extremism or,

2. invasion.

Even during World War 2 the government issued War Bonds...they may have been defaulted if we had been invaded though...but who knows!

MX5huggy

They day Premium Bonds become worthless is the day money becomes worthless, we’re into survival mode, stock piles of food and bartering.

LateStarter

Please don't listen to anyone who suggests the government are going to steal your money somehow. Premium Bonds are the safest investment you can possibly have.

Eco_Miser

Fortunately, it's not the Government, which changes every five years or so, that's guaranteeing the Bonds, but HM Treasury, which has been around many centuries, and is rather keen on maintaining its reputation for not defaulting on loans

El_Torro

Sure, there's a risk with holding Premium Bonds. It's not as high a risk as putting your money in a privately owned bank though. Even the £85k limit in putting money in a bank is backed up by the government / HMRC. So if you don't trust them to look after your Premium Bonds you can't exactly trust them to honour the £85k guarantee either...

Ross666

LateStarter said:

Please don't listen to anyone who suggests the government are going to steal your money somehow. Premium Bonds are the safest investment you can possibly have.

Thank u 🙏