Premium Bonds: Are they worth it? Discussion Area

dollpiggy

£100 invested in a year means you are gambling with £3 of likely interest after tax. That's less that 6 pence a week for a chance to win a prize. Pro rata that's 6 p per week per £100 invested per year - I think it is worth a punt.

Nakedcash

Thanks to Martin for all his advice. He is right as usual but despite this I decided last January (as an experiement) to purchase 30K of PB's. :cool:
So far I haven't won a bean. What I have got though is the continual feeling that the person in charge of the universe, otherwise known as ERNIE - is sticking his finger up at me.
So what do you have to do to get old Ern to pull your numbers out? :think:

Jonbvn

Nakedcash wrote: »

Thanks to Martin for all his advice. He is right as usual but despite this I decided last January (as an experiement) to purchase 30K of PB's. :cool:
So far I haven't won a bean. What I have got though is the continual feeling that the person in charge of the universe, otherwise known as ERNIE - is sticking his finger up at me.
So what do you have to do to get old Ern to pull your numbers out? :think:

I have read (somewhere) that with 30k of PB's you should on average win 15 prizes per year. Maybe your due a big one, or perhaps Ernie just hates you, or maybe RPI certs are a better bet?

mroller

Nakedcash wrote: »

Thanks to Martin for all his advice. He is right as usual but despite this I decided last January (as an experiement) to purchase 30K of PB's. :cool:
So far I haven't won a bean. What I have got though is the continual feeling that the person in charge of the universe, otherwise known as ERNIE - is sticking his finger up at me.
So what do you have to do to get old Ern to pull your numbers out? :think:

you have entered 3 draws so far. I won 200£ on these 3 draw with the same number of bonds.
I think you have been very unlucky. (me too).

FRUGAL_4

I have had £2000 pounds in PB for 2 years, and never won a thing. Sorry but I can't follow that working out in the earlier post, I think I have been unlucky and I may withdraw the cash after the June draw, I can get 10% on the regular childrens savings account with the Halifax, I already have two accounts in trust, one each for my children in my name, but I could open two others and have my husband as trustee.(maximum invest £1200 per child per year). £4800 over 1 year = 65 * 4 = £260 interest pa. Would this make more sense, although I have no chance of winning the million, has anyone ever see the jackpot holder with £2000 in PB holdings?

FRUGAL

bennyvdb

I have £70000 in PB and get £50 on a regular basis, got £1000 the other week, but don't think it is a very good investment for returns.
I leave it in for a while and hope I might hit the jackpot and take it out and invest elsewhere.
Have done this several times with the same results.
Also have £2000 in my granddaughters name and not had a penny! + have 1X £1 from when it first started in the 50s' and had nothing from that too.

FRUGAL_4

bennyvdb wrote: »

I have £70000 in PB and get £50 on a regular basis, got £1000 the other week, but don't think it is a very good investment for returns.
I leave it in for a while and hope I might hit the jackpot and take it out and invest elsewhere.
Have done this several times with the same results.
Also have £2000 in my granddaughters name and not had a penny! + have 1X £1 from when it first started in the 50s' and had nothing from that too.

Benny, is that £7,000 or £70,000, I thought the limit was £30,000, I may have read that wrong somewhere though.

bennyvdb

Can't remeber off hand, but it is the maximum.
just checked you are right it is £30000. I have one in mine and one in the wifes.Sorry.

FRUGAL_4

No Benny thats fine, I thought I got the £30,000 wrong, its late and it doesn't take much for my brain not to work.

debbie42

My OH has around 10K in PBs, for around a year. My children have around 1K each, for around 6 months. In the past six months, my OH has won £50, and my children £300 between them. He's not a happy bunny, whereas my children think it's great.

I do sometimes wonder what we'd do as a family if the children won a large amount, though! I think the flow of information might be, erm, moderated a little