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DIY investment

Premium bonds: a losing game

By Andy Davis   June 2013

In 1993 my grandmother, a quietly spoken woman of 101, died leaving her four grandchildren a modest bequest. I remember feeling a sudden weight of responsibility—the ultimate disrespect to her memory would be to squander the money, especially since the sum was relatively small and her life had been exceedingly long. I needed a way to feel I was doing the right thing by her, keeping her money safe and enabling it to grow. So I put most of it into premium bonds.

I chose premium bonds for several reasons—first, I’d actually heard of them (it sounds stupid, but there…

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