neeeeeeeeeek Posted September 11, 2007 Share Posted September 11, 2007 I looked at them a bit ago, it seems your best investing in blocks of £5000. I don't know why it would make a difference but someone had produced charts showing the big wins and lots of them were on £5000 investments. Having a few hundreed quid in a saving account wont get much interest so you could argue that it's worth the gamble as you might win and can always cash them in again. Link to comment Share on other sites More sharing options...
md25 Posted September 11, 2007 Share Posted September 11, 2007 Premium bonds are basically the same as sticking the money in a savings account and using the interest to buy lottery tickets, but with slightly better odds. Link to comment Share on other sites More sharing options...
Tikva Posted September 12, 2007 Share Posted September 12, 2007 Premium bonds are basically the same as sticking the money in a savings account and using the interest to buy lottery tickets, but with slightly better odds. i think that about sums it up. £10 were bought for me when i was born in 1978 and have never won anything. About Three years ago i bought £1000, it has won £50 once. I'm still hoping for that 1 million:) Link to comment Share on other sites More sharing options...
Grissom Posted September 12, 2007 Share Posted September 12, 2007 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! Think thats wrong advice - this is what it says on the terms and conditions page of the premium bonds site i linked to earlier in thread : 18. Bonds are not transferable at any time. Following the death of a holder, the value of the Bonds will form part of the deceased holder’s estate. Link to comment Share on other sites More sharing options...
LibertyBell Posted September 12, 2007 Share Posted September 12, 2007 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? Definitely go for it. look on it as a monthly lottery where you can get your money back any time you want. But don't put all your savings in bonds. Use your ISA allowance and look into Friendly Societies for more tax free savings. I have won £350 this year Link to comment Share on other sites More sharing options...
Joanl Posted September 12, 2007 Share Posted September 12, 2007 I have 2 one pound ones from 1959 and 1965 and a four pound one from 1975 ,which was the contents of a swear box that we had at the place where I was working..... None of them have won a penny..ever. Link to comment Share on other sites More sharing options...
James7x7 Posted September 12, 2007 Share Posted September 12, 2007 There's some useful information on premium bonds here: http://www.moneysavingexpert.com/savings/premium-bonds To summarise, the average rate of interest is about 4% - less than most savings accounts. They are tax free, so might be worth investing in if you're a higher rate tax payer and have used up your tax free ISA allocation for the year. Otherwise, better to put your money in a savings account. Link to comment Share on other sites More sharing options...
Lindseyw Posted September 12, 2007 Share Posted September 12, 2007 We buy them & I think they are great. Savings, potential to win & can get the cash back at anytime. Link to comment Share on other sites More sharing options...
hazel Posted August 1, 2008 Share Posted August 1, 2008 Some one in Sheffield will wake up to find they have won the £1,000,000 prize in the Premum Bond August draw. What a nice surprise. They bought the bond in Feb 95 hazel Link to comment Share on other sites More sharing options...
Nodens Posted August 1, 2008 Share Posted August 1, 2008 I bought £20k worth of Premium Bonds ten years ago. My average "winnings" are around £200 a year, which equates to 4% interest, so they're a poor investment - unless you're very lucky. I believe, statistically, you've a far, far, greater chance of winning the lottery than a million on the Premium Bonds - and that's hard enough. I've started selling off my bonds to top up ISAs. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.