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Premium Bonds - National savings


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I have invested in Premium Bonds because I like the anticipation of the big win. I win small amounts probably 9 times in the year but not sure whether I'm covering the interest I would get.

Large prizes of P Bonds can be checked on line on the first of the mth, smaller prizes after 2 or 3 days.

It tells you how many bonds are owned by the winners and often there are wins of holdings of a few pounds.

 

hazel

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I have the full allowed amount and win every month (my mother left me the money) and am purposely keeping them in hoping to get a good win, usually I win at least £50 a month, but it's tax free, most I won in a month is £800, it's still a buzz though when I win and I check them on the website

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I have had 20 premium bonds for over 25 years and have never won a penny. Still, in theory, one of them could come up and win a million at any time. As I have never done the lottery this gives me my occasional "dream" scenario. I believe I heard sometime that there is, on average a 7% return on premium bonds, per year, which is actually quite a high rate. But of course, you could have thousands and never win, or one and win the jackpot.

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I have quite a few but have never won anything but my brother (who is generally more lucky than me when it comes to money) has won a few times.

 

My grandma used to have quite a lot (and used to win a lot) but we found out that if she died, the bonds couldn't be transfered to anyone (it had to be done before she died) so she couldn't leave them in her will. She cashed them in because of that. Shes still going strong though!

 

I think they make a good present for younger children if you are worried that the child (or their parent) will spend the money rather than save it.

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I was considering buying some premium bonds but am unsure if they are worth while.

 

Has anyone invested in these and come up better off of am I just better off with a savings account?

 

If you dont win anything then technically you lose money as your 'investment' will be eroded by inflation over time.

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