Today there are more than 68bn £1 Premium Bonds making them still the most popular form of savings in the UK. However, with odds of winning any monthly prize at 30,000 to one and a recent reduction by National Savings & Investments (NS&I) of the number of large prizes Premium Bond holders can win each month, are they really worth the investment? Premium Bond alternative For those savers disheartened with low-interest rates and the slim chances of winning a pay out and seeking better odds, the Family Building Society has an alternative, the Windfall Bond. Based on the same principles of generating growth via a monthly prize draw, the Windfall Bond draw ensures there are 13 prizes up for grabs each month. So savers have a one in 64 chance of winning £1,000 per £10,000 bond per year.
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