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NS&I: Premium Bond reviews

Name: Premium Bond
Rating: 2.96 (147 reviews)

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2.80

Based on 147 reviews, last reviewed 13th Jun 2025

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

35%

13%

43%

Latest highest rating:

5

Premium Bonds are worth holding, I think.... Returns on Premium Bonds are generally average, with the slim chance of above average winnings each month. Winnings are not taxable which is a bonus. Reviewed on: 12th June 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 (147)

Review of the NS&I, Premium Bond:

Only invest if you enjoy paperwork and mental torture

This is simply the worst set up investment service you will ever encounter - the call centre advisors readily offer that it's because they're a 'government service' - meaning a lot of money being thrown at process and bureaucracy in the name of your 'security'. So secure that within a month of filling out the same paperwork I'd filled out 2 years before (which takes a week to arrive by snail mail) and having to post a form back to reactivate my account - just to invest - they had de-activated it again because my password had expired. My password expired within a month so I have to do the whole process again. You can't make it up. I only invest/ check on the account every 1-2 years and I am told that I am 'barely using' my account and that's why I'll keep having to go through a 2 week process each time to do anything. It's bonds, not everyday banking. The time you'll invest in admin on your bonds will, in all likeliness, not be worth any money you'll win and should be a serious consideration. Essentially, they cannot cope with the modern world. They are an anacranism that desperately needs someone to come in and overhaul the whole thing to re-work the service to suit the needs of the customers. Currently this is a typical, geriatric, government service where you're not a customer, you're the public and they are doing you a favour. Unless you have time to burn and don't mind excruciating repetition, put your money anywhere else. Reviewed on: 17th September 2016

Should be investigated for fraud

DO NOT PUT YOUR MONEY WIYH THEM IF YOU WANT TO SEE IT AGAIN. Shameful and criminal stay clear Reviewed on: 26th April 2022

Fraudulent

Absolute Frauds. Do not touch with a barge pole Reviewed on: 12th April 2022

Simple, Safe, Effective

Clear and simple product with great explanations as to the purpose and how Premium Bonds work. Left with no worry as to the safety of my money and a fun but risk free way to potentially win some more. Reviewed on: 31st March 2022

Definitely rigged!

I've had preium bonds since 1988 and never won anything until I reinvested in 2019, then won the smallest prize two months in a row. Since then, nothing again. There seems to be a direct correlation between people buying new bonds and winning. To make things even more dodgy, they make it impossible to manage or withdraw your money. I've been trying for 3 years now, phoning every week but there's always a new problem, such as technical isue, account verification, paper forms I need to sign, more technical issues etc. Do not trust them, and while nobody is going to be able to prove they're corrupt, they absolutely are! Reviewed on: 14th March 2022

Very rude customer service

Phoned up NS&I was constantly talked over and phone manner was very rude and condescending. Truly awful experience. Reviewed on: 12th March 2022

Don't forget Probate

Overall probably as present times one of the best ways to get return on an investment , however after my Father passed last year I was offered the chance to keep the money in the prize draw for a year after his passing. One year later my Mothers in a home with dimetia and I'm now unable to get the funds returned until I jump through all the hoops relating to something not even the helpline can advise on called Probate ! We need these funds right now , NS&I have them and they are no longer in the prize draw , looks like I'm going to have to pay a solicitor money to get my Fathers money back , why was I not told this a year ago ?????? Luckily I managed to register my Mothers NS&I account online and close it , freeing up some funds to prepare her house for sale in order to pay for her new residence , Thanks NS&I for making a tough time of our life even worse. Reviewed on: 26th February 2022

Could not login after 4 password resets

Extra secutity. put 6 digit number into message from NS&I which arrives too late. you have 3 attempts ( using my latest password) Impossible situation. Closed account. very poor. Reviewed on: 12th February 2022

Is has highest odd's out off long term saver accounts with post office.

But still really bad. The odds keep on changing around and investment amount dosen't. Is only 1% now which practically winning nothing even with the maximum amount. Reviewed on: 29th November 2021

So stingy not likely too win anything.

With maximum amount off savings the odds now so low even with the most invested in premium bonds not likely to win anything for at least 6 months or longer and take over full month to mature. Reviewed on: 3rd November 2021

run by little hitlers who force you to jump more hoops then banks and pitiful winnings

4 accounts worth thousands and only won 2x£25 in ten years. They are now becoming really difficult to deal with as they try to force you to keep jumping hoops the website is becoming a full time job. Good riddance the thing is clearly rigged anyway as there are few prizes for anyone we know. Reviewed on: 26th October 2021

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