Premium Bonds - Anyone win?

[RobbieW]

I started buying premium bonds a couple of years ago and now have quite a few. Was wondering whether anyone actually wins - well I know people do, but have any of you?

I was looking at some savings accounts over the weekend and banks and building societies seem desperate for our money so they are finally offering accounts with nearly 7% fixed. I am now struggling to decide am I better off with premium bonds that never win in the hope that one day I get a knock on the door from someone with a cheque for a million pounds. or better off giving it to a bank who will give me £70 pa for every £1k worth. Too many decision :bang:

Rob

[Jimmy_Lemon]

My parents seem to win £50 each month! dunno how :(

[RobertP]

Not worked out the return rate as I only bought premium bonds to keep the dream alive after stopping doing the lottery.... but we seem to get one or three £50's come through the door more months than not :)


edit : I am not related to JL btw :lol:

[eeverson]

Hi,

I am sure there is a website where someone has been worked out the 'interest' you gain on premium bonds. From memory it was about 3.5% so personally I have avoided buying them.

That said, if you dont need the intrest then why not gamble on winning the big money?

Cheers
Euge

[RobbieW]

this site is apparantly supposed to calculate your odds of winning (or not)

http://www.moneysavingexpert.com/savings/premium-bonds-calculator/

[eeverson]

Just done a google..

http://news.bbc.co.uk/1/hi/business/2779179.stm

In October 2006 they said the interest rate was 3.1% if you had average luck..

I see an increase of 3 footed rabbits...

[whitewash]

had some as a kid, never won a thing, took them out when i was 18 and went on holiday, much better return on my money!

[RobertP]

I would never suggest they were a *good* investment but I can now see thanks to an earlier link above my odds of winning a million are much better than on the lottery!

Think of it as a gamble where you are staking the interest money you would have got elsewhere. If you can afford that then why not..

[minimeeze]

I won £50 last week :D My first ever win on them, and I got all excited, hoping the cheque was gonna be for thousands :lol:

I only invested £100 about 5 years ago, but recently invested a little more.

[kamion]

I've had £1500 since last year... and have won... nothing. :lol:

[RobbieW]

... heres a thought, if inflation is 3% (round figure) your money must increase by 3% per year to keep up with inflation otherwise I guess it de-values.

[kamion]

Yes. That's true.

[Canon Bob]

You really have to approach it that you're doing the lottery but get your money back if you lose.

Higher rate tax payers with average luck do okay as the prizes are tax free whilst BS or bank interest would be taxed.

I generally pick up enough £50 prizes to maintain a little enthusiasm and have had the occasional larger cheque appear although nothing worth running around the street naked for.

Bob

[Boon]

i would also like to know the how many bonds the folks that win £50 every month have, i have 800 quids worth and have never had a sniff..

[Cobra]

i would also like to know the how many bonds the folks that win £50 every month have, i have 800 quids worth and have never had a sniff..

The "max" allowed. it just about covers the interest on a medium high interest account, monthly. And its only sitting there for awhile, 'till needed elsewhere, ( very shortly) though

[oldgit]

I won £40 when I was about 8, but thought that the letter was junk mail. Luckily for me my Mum spotted the cheque in the bin and pointed out my error.

One of lifes little knocks on the door of reality. :)

[tiler65]

Slightly off topic,

I got 5 numbers on a Saturday lottery once.

Whoopee I thought, at least a couple of grand to keep the wolf away.


£181. Not gutted but I must have spent £30 in phone calls telling my mates and family.

A member of my family won £120000 from a works syndicate that won £3.5 million.

It does happen.

[millsy17]

I bought some a few years back and apart from 2 small wins just after I bought them - a big fat nothing but I keep hoping - probably should sell them and put into my ISA :shrug:

[Boon]

Slightly off topic,



A member of my family won £120000 from a works syndicate that won £3.5 million.

It does happen.

i agree it does, my ex wife won £187,000 6 months after we divorced, b@@@sted:'(