Who wouldn’t want their children or grandchildren to be in with a chance of becoming a millionaire?
Premium Bonds are a popular gift for younger relatives because they offer the thrill of the draw and a Government-backed, tax-free way of keeping their money safe for when they are older.
There are 864,656 child Premium Bond holders, with an average £3,261 in their accounts. That means around one in 14 kids are in the monthly draw, versus roughly one in three adults in Britain, or 23 million.
On the face of it, they seem like a sensible way of saving, but what are the
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