Premium Bonds Article Discussion Area

Lokolo · 11 January 2009 at 9:00PM

I had £10 since 1988 and hadn't won a thing. I cashed them in and spent it

hutchy10 · 11 January 2009 at 9:03PM

oh no!

and there is me thinking my life was going to change!

haha

Roger_Bennion · 14 January 2009 at 3:49PM

Premium Bond Odds are obviously becoming greater but can anyone tell me if they have experience for themselves or anyone they know having won twice with the same numbered Premiun Bond ?

Feedback todate indicates that indivdual numbers are probally not checked,If the draw is indeed random then the odds should remain the same each month. but I still have no firm acceptance from anyone that the same numbered bond has ever won twice.

Can anyone out there confirm to me that they have won twice with the same numbered bond.

welshmoneylover · 14 January 2009 at 5:55PM

HI Roger

I've never won anything twice with the same premium bond number. However, I have won 3 times from the same batch of numbers, it was worth £5000.
My daughter has won 2 x £100 from the same batch of numbers valued at £200.

Sue

isofa · 14 January 2009 at 6:13PM

I've won plenty with the same batches, but AFAIK (and I'm not checking!) never with the actual same number, but it could be a possibility.

Mad_Mick · 15 January 2009 at 1:58AM

I know the BoE interest rate has dropped which affects the chance of a pay out but as the capital investment is safe and I'm a high rate tax payer with my cash ISA quota used up, I thought it worth a punt.

I have put the full £30k in. As that was offsetting against my mortgage interest rate of 1.54% thats costing me £450 a year or less than £40 a month. It's tough to find much better net rates than that with immediate access to your capital.

My wife and I have decided to give it 12 months. If we haven't won £450 in that time... hey, we've lost £450 in interest.

Mad_Mick · 15 January 2009 at 5:11PM

Thought I'd just add to my last post - in case anyone thinks I've gone completely mad.

Obviously we've looked into various accounts for ways to get a better return and yes there are some about - even then, hardly life changing.

For all the sceptics out there, I can see your point if you are comparing the returns with investment returns, but it also depends on what you would do with that money.

We used to do the lottery and usually spend a tenner a week. Over a year we would normally get two, maybe three, £10 wins. So all told the cost of having our little bit of fun was about £500. We're just looking at the potential loss of interest as what we would have spent on the lottery and who knows....

Now if interest rates were net 5% (again bearing in mind my tax status means about 9% gross!) returning £1500 for our £30 grand, we'd probably have to have a rethink about the returns.

caz38 · 21 January 2009 at 2:38PM

I bought £50 in 1964 which back then was quiote a lot of money now in 2009 some 45 years later i am still waiting for my FIRST WIN i am sure i would have had a nice little bit of interest if the money had been left in a bank do i think they are worth it Definately No,

crod · 21 January 2009 at 3:12PM

http://www.telegraph.co.uk/finance/personalfinance/comment/paulfarrow/4208859/Premium-Bonds-are-looking-a-better-bet-than-Isas.html

Fella · 21 January 2009 at 3:19PM

caz38 wrote: »

I bought £50 in 1964 which back then was quiote a lot of money now in 2009 some 45 years later i am still waiting for my FIRST WIN i am sure i would have had a nice little bit of interest if the money had been left in a bank do i think they are worth it Definately No,

According to my fag-packet sums £50 compounded at 5% net per annum since 1964 would be worth £450 now.

If you'd averaged 8% net per annum it'd be worth £1600.

At 12% per annum (possible with some share investments I suppose) it would have been £8200.

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