Premium Bonds Article Discussion Area

1272830323386

Comments

  • rb10
    rb10 Posts: 6,334 Forumite
    pfree wrote: »
    Strangely enough I chanced across this thread while looking for the best way to invest the £50K I just "won"!
    I found the main article very informative and I'm sure statistically correct - I so glad I didn't read it last month and sell my bonds!

    Good luck everyone....

    Wow, congratulations! Whilst the vast majority of people lose out heavily on Premium Bonds, it's nice to know that at least some people have a great windfall.
  • Loco
    Loco Posts: 103 Forumite
    kevanf1 wrote: »
    Erm, I win pretty regularly every month too with max holding. I usually get 2x £50 cheques though sometimes I get the odd £100 as well. My max win has been a £500 and 2x £100's. I've had these in for about 10 years now and can always take the lot out if I need to. I can't do that with the lottery, which I never do by the way... not since I got 4 numbers plus the other two were just one off each :( I figure I'll never get that lucky again....

    same here , usually get 2x 50 a month with the max holding, minimum 1x50 ,but on the very odd occasion I`ve had nothing (I guess I`ve been fortunate) ......even with the drop in rates since Oct/Nov......not much difference (Touch wood hope the new drop wont effect anything ;) )
  • rb10 wrote: »
    Wow, congratulations! Whilst the vast majority of people lose out heavily on Premium Bonds, it's nice to know that at least some people have a great windfall.

    "Heavily" maybe during boom times when interest rates are high but I think that Premium Bonds will make a comeback as an alternative to the 1% typical rates.

    I know the younger generation are more savvy when it comes to chasing rates online but it tends to be the 45 years old+ typical saver that wanders down to their nearest bank or building society and accepts the poor rates many offer on ISA's and the such like.

    The Premium Bond draw is heavily slanted towards those holding the maximum but I still think I might make just as money on prize wins as leaving it in the 1% Nationwide. Only time will tell. :cool:
  • "Heavily" maybe during boom times when interest rates are high but I think that Premium Bonds will make a comeback as an alternative to the 1% typical rates.
    And the 1.8% (and dropping) *average* interest rate (skewed heavily towards 0% for the average person because of the large prizes) is any more attractive? It isn't.

    I'd stick with NS&I's more conventional savings products if you want to save with them.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • And the 1.8% (and dropping) *average* interest rate (skewed heavily towards 0% for the average person because of the large prizes) is any more attractive? It isn't.

    I'd stick with NS&I's more conventional savings products if you want to save with them.

    As I have mentioned before, I am saving until the end of next year when I am hoping to have 20K-25K towards moving house. I like the fact I can just hand over a wad of cash at my local Post Office and my Premium Bonds Certificate arrived within 7 days. 100% safe and no fat cats creaming a bonus from it.

    I don't like leaving a paper trail from my bank account and it just suits my purpose but accept if I was saving longer term, I would look elsewhere.

    Just purchased another £400 worth bringing my total up to £2,800 :beer:
  • rb10
    rb10 Posts: 6,334 Forumite
    NPowerUser wrote: »
    "Heavily" maybe during boom times when interest rates are high but I think that Premium Bonds will make a comeback as an alternative to the 1% typical rates.

    1% is not a typical rate to get on savings. That is the base rate, which is quite a different thing to what banks are actually offering for your money.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    First Post First Anniversary
    NPowerUser wrote: »
    I don't like leaving a paper trail from my bank account.....

    How bizarre:confused::confused:

    You really are kidding yourself if you think there is no paper trail when you buy bonds with cash. Big Brother Brown is watching you!
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Jonbvn wrote: »
    How bizarre:confused::confused:

    You really are kidding yourself if you think there is no paper trail when you buy bonds with cash. Big Brother Brown is watching you!

    As I said "paper trail from my bank account"
  • BeeUK
    BeeUK Posts: 151 Forumite
    Interesting Premium Bonds question to ponder...

    What would people prefer...
    1. Current system of large-ish prizes from £50 upwards...or
    2. Series of smaller prizes and more chance of winning something say from £25 upwards?
    What do you think?
  • melbury
    melbury Posts: 13,251 Forumite
    Name Dropper First Anniversary First Post I've been Money Tipped!
    BeeUK wrote: »
    Interesting Premium Bonds question to ponder...

    What would people prefer...
    1. Current system of large-ish prizes from £50 upwards...or
    2. Series of smaller prizes and more chance of winning something say from £25 upwards?
    What do you think?


    Definitely the chance of winning a bigger prize. I want my life to change through winning and £25 sure isn't going to do that!
    Stopped smoking 27/12/2007, but could start again at any time :eek:

Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards