Premium Bonds

doire_2

Not too sure if this is the correct section to ask.

Has anyone invested in Premium Bonds? Im thinking of buying £100 worth.

By buying the minimum amount do i have the same chance of winning the top prize as someone who has 30,00 PB? Or is each person restricted to winning a certain amount 1e - those with 30,000 PB can win the top prize while those with 100 PB aren't entered into that draw?

Would you recommended PB?

Thanks

Etccarmageddon

if you have £100 worth then you have 100 chances of winning a prize but very very very unlikely to win £1million

if you have £30,000 worth then you have 30,000 chances of winnning a prize but very very unlikely to win £1million but a lot more chances than someone with a small holding


all premium bond holders can win £1million or less (min prize £50) - obviously the more bonds you purchase the more chance you have of winning £1million

Lokolo

The average return is 1.8%. So no I wouldn't recommend buying them until all other saving alternatives have been taken up.

You don't have the same chance of winning the top prize with £100 as someone who has £30,000. Its like the lottery, the more money you put in the better the chances.

doire_2

Etccarmageddon wrote: »

if you have £100 worth then you have 100 chances of winning a prize

if you have £30,000 worth then you have 30,000 chances of winnning a prize


all premium bond holders can win £1million or less (min prize £50) - obviously the more bonds you purchase the more chance you have of winning £1million

Thanks :beer:

doire_2

Lokolo wrote: »

The average return is 1.8%. So no I wouldn't recommend buying them until all other saving alternatives have been taken up.

You don't have the same chance of winning the top prize with £100 as someone who has £30,000. Its like the lottery, the more money you put in the better the chances.

I was only going to buy 100 - you never know

And with rates for savers crap these days £100 less in my savings wont make a difference

SailorSam

If you look at the full list of winners each month and see how much they have invested, you will see that most prizes go to those with a lot of bonds. But just now and again one of the top prizes are won by someone who only has £10, or even £1 which was probably bought for them as a baby,and put in a drawer and forgotten about.
So you never know your luck, it's like buying a lottery ticket or putting 50p on the national. And at least you can be sure you can always get your money back.

Pssst

The returns are absolutely pitiful. I wouldnt bother. spend it,live a little.

Greatgimp

Last January 550ish people won £1000, this January the figure was about 50 people. You owe it to yourself to listen again to Jeremy Vine today on iplayer, radio 2. You must hear this discussion first.

mr_fishbulb

Have a look at this:

http://www.guardian.co.uk/money/2009/jan/08/premium-bonds-winners

"Premium bonds reveal 600,000 fewer winners"

Beancounter

Greatgimp wrote: »

Last January 550ish people won £1000, this January the figure was about 50 people. You owe it to yourself to listen again to Jeremy Vine today on iplayer, radio 2. You must hear this discussion first.

Yes, Martin got a little <ahem> animated with the other lady. Toys were almost thrown out of the pram going by his little outburst:rolleyes:

isofa

There are two main discussions for PBs on this forum, do a search.

They are: http://forums.moneysavingexpert.com/showthread.html?t=510305

and

http://forums.moneysavingexpert.com/showthread.html?t=81778