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  • what level of protection do premium bonds offer ? do they have the £75k ? govt protection like bank accounts or are they a 100% guaranteed fully backed by the hmrc / govt ?

    how quickly can you put money in there and how long does it take to withdraw ? any minimum holding period ? and are there limits to the amount you can deposit ?

  • how quickly can you put money in there and how long does it take to withdraw ? any minimum holding period ? and are there limits to the amount you can deposit ?

    Money is quick to get in but the bonds you buy take a while to be entered into a draw, at least a month I think.

    More info here: https://www.moneysavingexpert.com/savings/premium-bonds/

    Key statement: "If you won't earn interest over the personal savings allowance and have average luck, Premium Bonds are only likely to beat top savings, if you've £5,000+ to save"

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