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Daily Mirror
Daily Mirror
Business
Reanna Smith

What are Premium Bonds, how do they work and can you lose money?

The cost of living crisis wreaking havoc across the country isn't set to end anytime soon, with the Bank of England predicting tha t a recession is impending this winter.

As the financial situation remains bleak, millions of households are trying to make the most out of their savings and one option is through Premium Bonds.

Premium Bonds were first introduced in 1956 and are currently the UK's biggest saving product, with over 21 million people across the country saving £118billion in them.

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