Premium bonds

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Thats my sock

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steve
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Does anyone buy these? Has anyone ever won anything?.

Would you say these are a decent investment/ way to save ?

Been thinking about them recently but dont know sod all about them.
 
Steve you arn't going to loose your money , that's the first thing. As for winning it depends on how much you want to put in, A friend of mine has put in the max amount and got a better return in prizes than interest rates elsewhere and its tax free.

its a gamble where you can't loose the capital but may loose out on interest rates if you don't win. Most i ever won was £500 many years ago but I only have a few bonds so don't expect much

Realspeed
 
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Thanks for the reply mate,

So say I invested 5k and didn't touch it for say 5years and decided to cash them in I'll still at least get my 5k back ? Am I thinking along the right lines ?
 
Yep but the pound may be worth less in 5 years time. your money is safe its a government run thing. Also if you didn't win you would have lost out on interest in say a building society. Alternative is getting a cash ISA which gives a little more interest (tax free) but needs to be reinvested each year with possibly the same Building Society to get max interest, depending on which ISA you take out. Fixed 5 year plan pays a litle higher interest but you need to talk to a Building society customer service person to see which is best to suit your needs


Realspeed
 
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Yes you'll get your £5k back.
 
It's where some of my savings are and on average I've done far better than I would have from interest rates. The money is also fairly accessible should you require it. I'm a big fan.

I've personally never won more than £50 but get regular £25 winnings and have several family members who've had bigger winnings, but none of the huge ones sadly!
 
Another vote for premium bonds from me. About £8k of winnings in four years... then again it could have been zilch
 
Thanks for the replies guys i think i'll give them a bash(y)
 
I have the full amount allowed and it has more than paid for my photography kit for several years. Normal savings accounts for a similar amount without risk are pathetic at the moment.
Biggest payout was 5k in one year but following year nothing.:LOL:
 
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I have £2k of premium bonds and have had them for about 4 years.

Won £50 - thats it... Thinking about cashing them in!
 
Never won a penny in over 40 years on mine, thinking of cashing them both in. :LOL::LOL::LOL:
 
As can be seen from some of the posts PB's are a bit of a lottery, for a £30,000 investment the average yield is 2.8% per annum, excepting those actually win the big one.
Over last 2 years the numbers of larger prizes has been reduced making the odds of getting a good return, less.
The main attraction obviously is your investment is safe, and you may just get the £1,000,000 price and its all tax free.
Accessibility is good too, return of cash to bank in about 7/10 working days.
 
As can be seen from some of the posts PB's are a bit of a lottery, for a £30,000 investment the average yield is 2.8% per annum, excepting those actually win the big one.
Click to expand...

There are FAR better expert managed stock options than this sort of rate. Anything below around 5% for any decent size investment is pointless....
 
But there are risks with stocks. PB's are safe, you may not get any richer, (on the other hand you might) but at least you will get your capital back. With managed shares you have to pay the fund manager no matter how well your shares do.
 
Got some but only ever won't a couple of £50's. was thinking of getting more though.
 
I only have £80 worth, had them for around 25 years, not won a bean. Might go for some more though.
 
I've had £100 worth for forty years (blimey!) never won a bean but still get the £100 back, although not worth as much. You really need to max out to be in with a reasonable chance and the estimated winning calculator linked above is pretty accurate.
My dad's accountant advised him to hold his deferred VAT in premium bonds until payment was due. With the low current interest rates it would be worth as punt depending on amount and timescale.
Good luck!
 
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