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Martin Lewis has answered the questions on whether Premium Bonds are really worth it.

During an appearance on the ITV programme, This Morning, a viewer asked the finance guru about the bonds which are issued by National Savings and Investments (NS&I) and can be purchased from £25 upwards.

The savers have the chance to win tax-free prizes instead of receiving a guaranteed rate of interest.

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Essentially, the MoneySavingExpert.com founder said Premium Bonds mainly benefit wealthier savers who invest larger sums.

The high-value winners mean smaller returns for the vast majority of people putting into the prize pool.

He said Premium Bonds are like "a savings account where the interest is dictat

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