Does anyone use premium bonds?

About to get my bonus, not a huge one but enough that i can tuck it away as savings. Thinking of opening an NS&I premium bonds account and wondering what kinds of returns people are seeing from it.

My plan is to eventually max out the allowance - if any of you already do that, how much do you generally receive per month and what do you do with the cash (i presume that anything above the £50k cap doesn’t do you any good sitting in the account so I’d probably go put it in a monthly saver or something like that).

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Yes I’ve had £50k max for years (why that cap has never been changed I’ve no idea). The average return is circa 3.6% p.a so £150/month. Some months nothing others alot more. The interest is tax-free which is valuable if you are in a high tax bracket. You can redeem at any time, I own them to slightly hedge my pension funds which are stock market heavy. Hope it goes well for you :ok_hand:

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