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NS&I: Premium Bond reviews

Name: Premium Bond
Rating: 2.94 (144 reviews)

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2.83

Based on 144 reviews, last reviewed 6th Mar 2025

67% decrease in 5 star reviews

in the past 90 days

300% increase in 1 star reviews

in the past 90 days

35%

13%

44%

Latest highest rating:

5

Safe but worth it as interest rates rise? Used to be a dead cert for somewhere to keep money safe when savings interest rates were next to %zero. Now savings rates are returning a sum of sorts... Read more Reviewed on: 27th February 2025

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.

NS&I Premium Bond reviews (144)

Review of the NS&I, Premium Bond:

Safe but worth it as interest rates rise?

Used to be a dead cert for somewhere to keep money safe when savings interest rates were next to %zero. Now savings rates are returning a sum of sorts it's worth thinking if gambling £50 a month guaranteed loss of interest is worth it versus potential winnings. Reviewed on: 27th February 2025

Low Risk for ok Return

Low risk way to save money. You don't lose anything and there is the chance you could win something that will change your life. Didn't get anything until I had over 20K invested though. Their website is rubbish and a you still have to fill in a lot of paperwork when dealing with them. Reviewed on: 16th March 2023

Safe Gambling

Money secure and although no interest - the CHANCE you may win BIG is there. Also an average rate ofreturn with wins is also there. Reviewed on: 16th March 2023

Safe and reasonable return

Bought bonds late last year and have had good returns from them since Reviewed on: 11th March 2023

Premium bonds you cannot loose

Regular winnings good rates if you have maximum number of bonds Reviewed on: 7th March 2023

A fun way to save

My partner wins more than me but it's all good fun! For us it levels out to be better than interest rates at the moment. The prospect of winning big is a bonus! Reviewed on: 7th March 2023

Premium Bonds

Good returns, a bit of excitement with the chance to win big Reviewed on: 5th March 2023

Terrible Web experience

Definitely the worst website that I've ever encountered. Their developers need changing to make their site useful. This applies to the windows app, Android app and the Apple app. All dreadful!!! Reviewed on: 3rd March 2023

Risk Free Investments

Very easy to set up and monitor. Excellent results app. Reviewed on: 1st March 2023

Decent returns

After being fed up at the appalling ISA rates offered by TSB I moved my money into premium bonds and have had solid returns on my investment with a win approximately every other month. The 'safe' gamble adds to the thrill and I know my 'losses' would only be the negligible guaranteed interest of a bank savings account Reviewed on: 28th February 2023

Trust the low reviews

I'm fully aware it's possible to have a good experience with NS&I, but it's really luck of the draw whether you are going to be able to withdraw your money smoothly with no problems or whether you are going to face a real challenge accessing your money. I had a significant amount of savings in an NS&I account, and I won some money from those bonds over the years. If the money sits in the bonds and doesn't move, you probably won't experience any problems. I experienced one potential worst nightmare when buying a property which is I was unable to withdraw my money from NS&I. The situation was too long to explain fully but the highlights were: You cannot reset your password online, they send a reset password via post. Apparently their identity check service doesn't work for some young people due to lack of credit history. (I've had a credit card and a mortgage, so not sure what constitutes a necessary length of credit history to them) In order to complete the online form to withdraw your money without access to your online account you need a specific number (holders number), which is not sent to you in any correspondence via email. (Or at least it wasn't to me) It took a lot of stress and communications with my bank to find this holder's number in the original reference for the payment sent to NS&I originally. Customer Service were completely unhelpful. And even though I complained with suggestions of how to improve their service such as changing their id check provider so young people can complete the check, or resetting password online, they decided that they were in the right and there were no improvements to make. Reviewed on: 28th February 2023

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