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NS&I: Premium Bond reviews

Name: Premium Bond
Rating: 3.70 (152 reviews)

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3.70

Based on 152 reviews, last reviewed 11th Jun 2026

200% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

37%

13%

41%

Latest highest rating:

5

Great product Great customer experience was received when I needed to find out further information. The query was dealt with swiftly and professionally. Reviewed on: 11th June 2026

Latest lowest rating:

1

40k in premium bonds for 5 months and only won £175. 40k in premium bonds for 5 months and only won £175. 3 months won nothing. Much better off in shares or high interest savings account. Reviewed on: 6th March 2025

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About this product

NS&I bond reviews are honest reviews written by people like you. While many people look at the interest rates on offer, what about the NS&I's customer service? Smart Money People is fast becoming the UK's leading source of independent NS&I bond reviews. We need your help! By writing your honest reviews, you can help increase trust and transparency in the financial world.

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NS&I Premium Bond reviews (152)

for the wealthy

i was happy with premium bonds when £25.000 was highest amount you could hold.( Although i only have small amount of premium bonds.) but now that it stands at £50,000 i and many more low priced bond holders have very little chance of winning. it is mainly people with very high holdings who seem to gain. its the rich getting richer I'm afraid. Reviewed on: 3rd February 2018

Avoid

I have been attempting to withdraw (and now am looking to close completely) my premium bond account with NS&I. It was set up many years ago, but I was able to make a deposit in February 2017 over the phone without any requirement to prove my identity. Fast forward to October 2017. I filled in the necessary withdrawal form to take back some of this money and posted it back to them, but after several weeks without receipt of funds, I called NS&I for an update. I was told that they had received the form, but that they had no proof of signature on file for me and so therefore I would need to complete a different form for this, before they could action the request. No attempt was made to notify me of this, so if I had not made the follow up call myself, I clearly would never have seen any movement on this front. They could not explain why it was a different process to deposit money as it was to withdraw money, even when using the exact same bank account details, as I had managed to do with ease before. Nonetheless, after a couple of weeks, this form arrived in the post, which required my signature and that of a witness who was not family and working in a profession (company director, or solicitor etc). After posting this completed form back to them and putting in a call to them a couple of weeks later, they said they had not received the form, so would post another one out to me. A different and incorrect form arrived in the post yesterday from NS&I, so I am now going to have to call them up - yet again - to request they send the correct form to me this time and if they successfully manage to do so next time, I will have to bother someone again to fill out this document for a second time to witness signature etc and hope for the best. This experience is unforgiveable and the need to rely on their acknowledging receipt of paperwork, only via standard post (recorded delivery is not guaranteed to work either apparently) means that not only is NS&I completely unfit for purpose, but it is also not a method for storing funds that can reliably be reclaimed in their own, already slow, stated time period. For a Treasury backed institution, it is a disgrace and for someone in need of reclaiming their money within a reasonable timeframe, it is an experience that might cause great anxiety and financial difficulty. Avoid NS&I at all costs and if you currently have a premium bond account with them, I would advise you to take heed of this all to common negative customer experience. Reviewed on: 24th January 2018

Efficient always

In all my dealings with them over many years, there have only been a couple of small problems which were rectified immediately. A really efficient organisation and with todays very low interest rate, premium bonds are worth a go. Reviewed on: 13th November 2017

Love them!!

I have only had premium bonds for two months and won £100 first month and £550 second month! Must have a lucky touch. I think these are a good investment when you have a large amount to invest but if it's just a few Hundred or a few Thousands might not win to much. I love the thrill of opening them to see if you have won. Reviewed on: 2nd August 2017

Reliable and exciting - what more can you ask for?

Whenever I've contacted NS&I to update details, their customer service has been swift and efficient, and prizes are sent out quickly and automatically. Not only are your savings safe in their hands, but you have a chance of winning a financial prize - what more can you ask for? Reviewed on: 4th July 2017

Worth a punt -MaxYourMoney

I have a few thousand pound in savings due to the awful rate, I moved them into premium bonds. In the last 5 years I have made 2.5% consistently every year. I know there is a chance I'll earn nothing but for the cost of a coffee it's a price I'm willing to pay! Plus with a chance to win even bigger ,this time next year Rodney we will be millionaires. Reviewed on: 28th March 2017

Premium bonds

easy to buy and give a monthly chance of something back. Better than bank savings account which pay so little it is not worth investing- and note that the same banks charge huge amounts if you want to borrow some money Reviewed on: 28th March 2017

Used to be the best

I've still got several thousand pounds with of bonds but the rate of winners, and the rate paid is forever falling. I should really move them but it's a hassle Reviewed on: 20th March 2017

Paying off well so far

We are frantically saving towards paying off a help to buy scheme and decided to use premium bonds to help us gain more money. So far it's working very well. We haven't won millions but at least £25 each month often more. #MaxYourMoney Reviewed on: 1st March 2017

Straight forward service

After debating getting premium bonds I'm really pleased I did, applying online couldn't have been any more straightforward and within 3 days I had a letter to confirm everything. Simple & speedy Reviewed on: 14th November 2016

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