Premium Bonds Article Discussion Area

hector127

premium bonds are becoming a total waste of time , if interest rates get cut tomorrow they will be down to !% interest. Time for a change at Premium Bonds, one one million prize should be divided up to give more prizes.
People get writing to them , phoning them , e-mailing them.
Or vote with your feet and cash them in.
Not so Sweet now are they Mr Sugar ????????????

nilrem_2

hector127 wrote: »

People get writing to them , phoning them , e-mailing them.

Do you really think they would take any notice if we did!

hector127

They won't if you don't

mycar37

MSE_Martin wrote: »

m3 Sussex, I think your win is very interesting if we look at it on the Probability Calculator

It shows theres a 0.33% chance of someone with 30k winning over 10k. In other words roughly 1 in 300 people will do so. Over 200,000 people have used the calculator this week; therefore its more than expected that a small number of them will have significantly beat the odds.

That is of course the nature of the game. The problem with premium bond distribution is that for everyone who substantially outperforms the interest rate, (in your case roughly 33% interest for the year) many more need to underperform. That's just how it works

Well done for winning.

Someone somewhere put "premium bonds are your pet hate aren't they?" No they're not. There's nothing wrong with premium bonds. There is something wrong with how people think about them - they're a savings product where you gamble the interest, but the gamble isn't that good. As long as you understand the odds; and are prepared for the various outcomes, then if the decision is rational they're fine - and I built the calculator to help people make that decision

Martin

Of course nobody has mentioned that those who believe they will still have their £30K in 5 years from now will have an eroded £30K - worth much less, due to inflation.

chopperharris

mycar37 wrote: »

Of course nobody has mentioned that those who believe they will still have their £30K in 5 years from now will have an eroded £30K - worth much less, due to inflation.

I thought we were headed for deflation?

hector127

All Premium Bond holder should write or e-mail NSI and then they might listen, no good just posting on here.
I've phoned, e-mailed and written to.
If everyone did the same , it would make a difference, they would have to alter the pb structure.
Get writing in or e-mailing , if you're not happy with them tell them direct , wish all 29 million pb holders would write to them or e-mail them.
People spend time posting on here , 2 minutes to NSI would be nothing , Lets stand up for ourselves and at least be heard.
PB will be down to 0.8% next month with the new interset rate imposed yesterday.
We are being ripped off big time as usual and everybodys rolling over as usual. Lets be British and unite together and let them at the top know were unhappy , otherwise the will just keep on walking all over us , as they think we're all a walk over. Mr Sugar will be on his boat P---ing his sides at us suckers otherwise. Just take 2 minutes of your time to e-mailed or a bit longer to write

hector127

Just imagine how much money they made on the 29 billion that was invested. Or something like that.
At this rate there will be no pb holders, well not in there right minds. Not worth it

Jonbvn

hector127 wrote: »

Just imagine how much money they made on the 29 billion that was invested. Or something like that.
At this rate there will be no pb holders, well not in there right minds. Not worth it

Haven't you figured it out yet?

The gov't doesn't want your PB money. They want you to put it into your high street bank, who will then lend it to somebody.

amcluesent

Premium bonds 'worthless' as savers see their chances of prizes fall drastically

Experts said Premium Bonds had effectively become "worthless" because of the lack of returns to customers and called on the company to halt any further cuts amid fears that it would discourage people to save.

Liberal Democrat Treasury spokesman Vince Cable said: "Given the extent of Government borrowing, ministers are going to need reliable long-term savers.

"They should not allow people who are willing to save in this way year in and year out to be penalised."

Paul_Herring

Jonbvn wrote: »

Haven't you figured it out yet?

The gov't doesn't want your PB money. They want you to put it into your high street bank, who will then lend it to somebody.

No they don't, they want you to spend it. Then borrow some more, and spend that as well.