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Maximize Kids' Savings: Premium Bonds Less Attractive, Says Lewis

2/6/2026

29 6 Full Breakdown

Summary

Story summary

Martin Lewis advised UK savers on a BBC Sounds podcast to maximize children's savings after junior ISAs are maxed and £1,500 sits in Premium Bonds.
He says Premium Bonds carry a 3.6% prize fund rate but have a low chance of winning, making them less attractive.
Paying 20% tax on a 4% return from traditional accounts such as Nationwide Flex Saver or Halifax Regular Saver yields more than Premium Bonds.

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Story summary

Martin Lewis advised UK savers on a BBC Sounds podcast to maximize children's savings after junior ISAs are maxed and £1,500 sits in Premium Bonds.
He says Premium Bonds carry a 3.6% prize fund rate but have a low chance of winning, making them less attractive.
Paying 20% tax on a 4% return from traditional accounts such as Nationwide Flex Saver or Halifax Regular Saver yields more than Premium Bonds.