Premium Bonds: Are they worth it? Discussion Area

Gorgeous_George

Middlestitch wrote:

Whatever the returns, there is something very enjoyable about the 'gamble but get your capital back' approach!

That's why PBs are so clever. Yes, you get your capital back but somne people really believe that they get their stake back!

You can fool some of the people all of the time.:rotfl:



GG

trevor_milne

kah22 wrote:

Is there a logic behind this

Kevin

The logic is quite simple as explained in money pages of the times new bonds seem to win more frequently than the older ones and turning £1000 into £4950 (4 more £50 wins) seems logical if your original stake quintruples and it is from money you have won in the first place not investing but letting your wining win you more trevor

Paul_Herring

trevor_milne wrote:

new bonds seem to win more frequently than the older ones

This might have somethign to do with the fact that there are substantially more new bonds than older ones.

deekie

Invested £20k into the premium bonds the end of year 2000, which was the maximum 1 person could invest, then put another £10k in mid 2006, this is what they have won over the years:-

2001 = £1,100
2002 = £650
2003 = £350
2004 = £300
2005 = £650
2006 1st 6 months had won £600 then invested another £10k
2006 2nd half won £750 totalling £1,350

So far this year NOTHING has been won :mad: so looking forward to next month

George-Derek

Having read this thread I've sent off to cash in my £10,000 worth of Premium Bonds after April's draw.

I've worked out that I can get over £400 interest per year if I place this money in a high interest savings account.

Wish I'd come accross this thread sooner.

Thank you Money Saving Experts.

deekie

deekie wrote: »

Invested £20k into the premium bonds the end of year 2000, which was the maximum 1 person could invest, then put another £10k in mid 2006, this is what they have won over the years:-

2001 = £1,100
2002 = £650
2003 = £350
2004 = £300
2005 = £650
2006 1st 6 months had won £600 then invested another £10k
2006 2nd half won £750 totalling £1,350

So far this year NOTHING has been won :mad: so looking forward to next month

Jan =£0
Feb =£0
Mar =£0
Good news April 2007 = £150

Will update this every now and again if anyone is interested!

belto

My wife and I are of retirement age although we still work for sanity and income.
We have £54K in PB with no great wins only £50_£100 now and again. this is our Pension fund
It would seem from this thread to cash them all in and transfer to High interest rate.
Where and what would be the best investment for growth in the fund.

cumbrialink

HAD MINE FOR YEARS AND NEVER WON A PENNY

MY FATHER HAS HAD SOME SINCE I WAS BORN AGAIN NEVER WON A PENNY. I HAVE WROTE TO THEM ON MANY OCCASSIONS TO SEE IF THERE IN THE DRAW BUT THERE IS NO WAY OF CHECKING SO U HAVE TO TAKE THERE WORD FOR IT.

I WONDER HOW MUCH INTEREST I COULD HAVE GOT FOR THE ONES MY FATHER BOUGHT FOR ME WHEN I WAS BORN, I AM NOW 52
MARK

NeilW

The alternative approach to Premium Bonds is to put your money in a high interest savings account (or a Cash ISA), draw the interest in excess of inflation and buy 'Lucky Dip' lottery tickets with it.

That way your money doesn't rot, and you never know it could be you...

NeilW

grandalf

my I bought £250 premium bond when my wife and I were married 50 years ago, so far winnings are a big zero