Martin Lewis addressed the issue of premium bonds on tonight's (Tuesday) ITV programme, The Martin Lewis Money Show: LIVE. According to the money saving expert, 21 million savers in the UK have more £119 billion in them.
He took the figures of winnings from the premium bonds, the savings plan from NS&I, and compared the rates with savings accounts to see which was the better deal for your money. And it's fair to say the results surprised people.
Martin explained: "Premium Bonds is a savings account, but instead of getting interest, you get money from a prize draw that comes out each month. Each £1 bond is entered into a draw and has exactly the same chance."
