Premium Bond Savings

camper_1982

I have been saving since january this year and hav now saved up £1500 in premium bonds. I have so many certificates in small amounts of £50, £100 and £200.

Would i be better cashing them in now and reinvesting in a £1000 certificate and a £500 certificate. Or will my chances be better all spread out.

Any advice.

Also, i have saved up £1000 in my halifax liduid gold account. Where is the best place for this.

I know its not much, but ive never had any savings before and i want to save up in case worst comes to the worst with my job and i get made redundant.

Many thanks guys.

isofa

Make absolutely no difference to your chances whatsoever, there are a couple of large discussion threads on PBs on this forum, use the search above.

For your other money, look at the best rated accounts at Moneyfacts.

XXXX

I have a small amounts of premium bonds for over 2 years, never had any luck to any winning.

Considering they pay a mere 3.40% per annual interests for drawing :mad:, while others offer 6%+ to 7%+AER, I have decided to take my money elsewhere soon. :hello:

opinions4u

XXXX wrote: »

I have a small amounts of premium bonds for over 2 years, never had any luck to any winning.

Considering they pay a mere 3.40% per annual interests for drawing :mad:, while others offer 6%+ to 7%+AER, I have decided to take my money elsewhere soon. :hello:

3.4% is tax free - so to a higher rate taxpayer they are worth 5.67%. Not brilliant, not for me, but if you fancy risking your interest for the chance to become a millionaire it's not such a bad thing!

I bought £100 when the Lottery was launched. Won all of £50 in 12 years!

pattycake

I have £11K in premium bonds and after an initial flurry of luck have been having a very dry spell.

However, I notice that this month one of the winners of the £1million prize only holds £400 in bonds. That sure is a very lucky person. It should have been me........................

XXXX

opinions4u wrote: »

I bought £100 when the Lottery was launched. Won all of £50 in 12 years!

For a £100 left in a saving account, assuming fixed at 3.4% tax free, your money will be almost exactly £150 over 12 years.


For a £100 left in a saving account, assuming fixed at 6% gross, your money will be slightly more than £200 over 12 years.

It is clear if premium bonds are a good deal, even if you have to pay tax.

Oblivion

I've originally bought £2,000 worth ten years ago. Since then I've received £800 in winnings, mostly £50s, and I've just checked this morning to find I've won a further £100 in October bringing my winnings to £900.

I think if I've got my sums right, that equates to an annual average return of 4.5% tax free.

I don't think I'd buy any more, but I'll keep the ones I've got because I quite enjoy that little bit of excitement at the beginning of each month checking to see if I've been a winner. Also there's the anticipation that I might just get lucky and get a really big win. I can dream

Dave.

Milarky

camper_1982 wrote: »

I have been saving since january this year and hav now saved up £1500 in premium bonds. I have so many certificates in small amounts of £50, £100 and £200.

Would i be better cashing them in now and reinvesting in a £1000 certificate and a £500 certificate. Or will my chances be better all spread out.

Any advice.

Also, do Fairies exist?

(I actually thought this would be covered at NS&I but they have simpler 'myths' than this one)

Milarky

pattycake wrote: »

I have £11K in premium bonds and after an initial flurry of luck have been having a very dry spell.

I'd dub that: 'Out-liar luck!' followed by 'death by long-term average'

However, I notice that this month one of the winners of the £1million prize only holds £400 in bonds. That sure is a very lucky person. It should have been me........................

T'wasn't me, then - since I've only had £1 since a child - so won't have to check it either this month...