UK finance expert warns Premium Bonds may not be best for small savers as prize rates decline.

Martin Lewis, a UK finance expert, warns that most Premium Bonds holders might earn more elsewhere, especially those with smaller savings. The prize fund rate for Premium Bonds is set to drop, making them less attractive for most. He suggests higher earners with large investments might still benefit. For others, easy access or fixed-rate savings accounts could offer better returns with guaranteed interest.

November 12, 2024
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