We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Experiance in Premium bonds
Cliecost
Posts: 633 Forumite
Hi,
Who has experience in premium bonds? I've seen the calculator on the site but it'd be interesting to hear from people who have them and what their experiences have been?
Who has experience in premium bonds? I've seen the calculator on the site but it'd be interesting to hear from people who have them and what their experiences have been?
Any BIG winners? 
0
Comments
-
I had 30k in them for a year and like most people I won about 25 - 50 a month, then I came to my senses and put the money elsewhere. That said, if you are a higher rate taxpayer they are *almost* worth a flyer as long as it's not all your money. I won't be buying them again anytime soon0
-
You deposit your cash.
You hear nothing for a long time.
Occasionally you get a cheque or £25. The more you deposit, the more frequent the small cheques become.
Somebody else gets a cheque for £1m.0 -
Any BIG winners?
Yes. Just not many
Premium bonds are really only suitable for higher rate taxpayers who have used other tax free allowances. For everyone else, it is a bit like putting your money in a savings account, drawing the interest from it each month and buying scratch cards. Would you do that? If no, then you shouldnt have premium bonds.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for the tips!
What about NS&I's ISA, is that any good?0 -
I won back my entire stake of 100 quid the first month I was eligible for a prize. haven't wont since lol, but it was an ok flutter.
If the 5 if us, there have been 2 other 25 quid prizes on our 100 stake each.0 -
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Thank you for explaining that...:laugh:
It is an important point. If you dont win anything, your money goes down in value in real terms. You are gambling the interest in the hope of winning a prize.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
there has been loads of threads on this OP
over the years
nothing has changed.
do a search for it.credit card bill. £0.00
overdraft £0.00
Help from the state £0.000
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.9K Banking & Borrowing
- 254.6K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.7K Work, Benefits & Business
- 604.7K Mortgages, Homes & Bills
- 178.7K Life & Family
- 262.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards