Premium bonds are held by about 20 million people. What is the attraction of this type of investment? Could it be the £1,000,000 tax free prize money? Or is it the security of knowing the investment is backed by the UK Government? But recent changes have made winning less likely and the same security is offered elsewhere. Are they still a good investment? If you would like to receive a copy of this article and future newsletters, please complete the form below and it will be dropped into your inbox.