Premium Bonds

Engeroosi

I am interested in buying bonds but don't know enough about them, I have already maxed my ISA so looking elsewhere to invest in.

Any advice?

Stavros_3

They are simply a punt mate, you get back your investment but you must appreciate that overtime it will be worth less. So far with a 30k holding I've received £250 in 9 months, not brilliant but as I said at the start its just a punt

redz

As stated above, the're a gamble; you are gambling the difference between your winnings on PBs and the interest you would of earned if you had invested the money in a high interest account.

Primrose

They're not a wise investment because the chances of winning are so low. The only difference between them and the Lottery is that with Premium Bonds you do eventually get your money back, although its value will have been reduced by inflation.
If you've maxed your ISA allowance out there are no other tax free savings available now that National Savings & Investments have withdrawn the tax free options. Perhaps look for the best rate you can find amongst one year fixed rate bonds offered by banks and building societies. By the time they mature you'll have another £5100 ISA annual allowance to take advantage of. Obviously if you fancy more of a risky long term investment, you could use up your equities £5100 annual ISA allowance.

dunstonh

Waste of money for most people. You are betting your interest on a lottery.

If you have maxed your £10,200 ISA allowance then move onto unwrapped investments (same as those within the ISA but without the ISA wrapper.

Engeroosi

I thought 5100 was the allowance, how can i get 10200? Were else can i store it tax free?

CLAPTON

Engeroosi wrote: »

I thought 5100 was the allowance, how can i get 10200? Were else can i store it tax free?

your isa allowance is 10,200 although only 5,100 can be saved in a saving a/c although all can be
invested in S&S

leveller2911

Personally speaking I'm not doing too bad since April when I cashed in £15k.I now have £4k holding and have had £100 , including £50 this month.......I'm on a roll

Last year April -March 2010 I got a 1.85% return which is not great compared to bond rates etc but theres always a chance with PB,s..........

jamie304

If you want to win a million with minimal outlay, it's more effective to invest your savings in a high interest account and play the national lottery every week.

Dick_Turpin99

jamie304 wrote: »

invest your savings in a high interest account .

Where do I find this account? most accounts seem to pay a pittance now.

Agree with the other posters, I pulled out of the P/B because it consistently averaged upto 1.5% return on the full investment

Engeroosi

What is the best stocks and shares to go for with the other 5100?