Hi guys, me again 
So what are peoples experience of bonds? My father-in-law and his wife swear by them and my wife wants to put some money into them eventually as the amount you could win would be better than the interest rates on most savings accounts.
Just want your thoughts
I generally find the older generation seem to love these (not everyone of course 
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I have a few thousands worth, purely because it stops my wife playing the National Lottery (as it appeases her desire to be in with a chance of winning something).
I believe the statistics show that the interest generated from premium bonds is lower than a mid/high paying interest account.
Butā¦ Thereās no chance of losing anything (if you ignore inflation), and there is always that chance you may winā¦
I wonāt be putting much more in, as Iād rather see some actual interest gained.
Being from the older generation -
Ive āwonā 1.05% tax free in 8 months all Ā£25 prizes nothing bigger, obviously the draw is the bigger prizes, but ERNIE isnāt giving me anyā¦yet ā¦ and in reality, Ive had my money tied up for the 8 months when inflation has been 2% + ā¦soā¦bit of a waste of time , except for the remote - very remote possibility of the big one 
I also put some money into Premium Bonds on the premise that unlike the National Lottery I can get my stake back. I treat it as āgambling moneyā. The amount put in is (in muliples of Ā£100) the number of weeks I have lived since turning 16. My wins have been a fraction above the āaverage luckā but this is due to one Ā£100 win and I will no doubt revert.This calculator gives your āaverage luckā and pretty graphs, for the amount invested https://www.moneysavingexpert.com/savings/premium-bonds-calculator/
Unless youāre going to put a massive amount in, your odds of winning will probably be too low to be worth it.
My grandparents gave me some premium bonds when I was, I think, 18. I donāt recall winning anything from them in all these years. 
I should probably look into reclaiming my stake now, actually. So this thread has proved a useful prod for me, thanks 
I put in Ā£500, which is small money, and have removed it because the chances of me winning anything are minimal. I would rather go for the guaranteed interest (no matter how small) instead of a slim chance I may win Ā£25.
I find them useful as an out-of-sight emergency fund. I expect I can survive the 3 day withdrawal period and it makes it a bit less inaccessible to avoid bad spending. Plus itās a risk-free way to play the lottery (albeit boring).
Won Ā£25 once, so itās currently on par with 1.5% high interest savers. I do expect that to drop down though.
My dad loves premium bonds, it is low risk low reward (average). It depends what your risk tolerance is.
Personally I would prefer to pump money into the markets or use platforms like chip (or the next big thing) to boost savings.
Each to their own 
I had Ā£20 worth from when I was born up unto I was 26ā¦ I won nothing; decided Iād be better off with the Ā£20 in my pocket. 
Premium bond returns are a better deal for those paying higher rates of tax as they are considered winnings and so tax free.
Additionally, more people know about the product now and the popularity greatly reduced likelihood of returns.
The older generations know the product and the tax benefits. My dad is aware of alternatives, but is quite content with the devil he knows. He would prefer security over returns and is at a stage in his life where he is comfortable.
I think it will comes down to risk appetite and where you are at in your savings journey. If you are 60, the volatility of other options is less inviting to you than a 25 year old. Bonds vs equities vs savings accounts (etc).
I would rather invest in the markets and strategic ups than have Premium Bonds. Just my two cents.
I have the max invested and my winnings make about 2% a year for me. When I had only one or two thousand invested I won about Ā£25 a year. So if you can afford the max amount then you could make a fair return compared to what banks currently pay withthe interest rates being so low, any smaller amounts I wouldnāt bother with very poor chance of winning.
My understanding is that, generally speaking, sticking your money in some of the higher rate savings accounts available, or a Cash ISA over the same time period, earns you a better return.
Personally I donāt think they are worth it
Iāve had Ā£200 of premium bonds since I was about 10.
Have won 4 lots of Ā£25 in that time (about 15 years) which feels like a decent return!
Quite like it, as I always forget about them until a random āwinā comes through.
Damn itās been 4 whole years and this whole time Iāve only won once: it was Ā£25 
meanwhile:
Anyone faired any better with prizes?
Won Ā£500 last month & Ā£1000 a couple times when I was a kid.
Only had a bunch of Ā£25 wins, possibly a Ā£50 or two in the past.
I used to put my money set aside for tax into Premium Bonds until it was due, but then couldnāt live with knowing Iād have to withdraw it at a specific time, the FOMO from potentially the next draw being the winner. Obviously still a chance of winning while it was in there, but it felt cleaner to just not put it in in the first place. Now I only put money in I donāt need for the foreseeable future so it can stay there indefinitely.
This gives me hope, but then again itās the hope that kills you. Anyway, gotta be in it to win it 
Same strategy here now too. With rising CB interest rates, the opportunity cost of holding money in premium bonds is quite high.
3x Ā£25 prizes this month 
to be fair though, mine are made up of savings for a house deposit. Iāve also got some for my kids which have won a couple Ā£25 prizes.