Premium Bonds Article Discussion Area

Pendle_Gazza

ShelleyC wrote: »

... Its also less hassle than my seemingly never ending shuffling to find highest interest for the rest of cash. ...

Those have been my thoughts, and in fact I withdrew a fair amount from savings to put into PBs from August, as the joke amounts being added every month were pretty uninspiring.

shomk

I was bought Premium Bonds when I was born - about £100. Nearly 30 years on I have not won a single penny!

sferguson91

In Dec 06, i purchased a £100 bond and forgot all about it. In June 07 I got a check thru the post for £50. Not a bad return you would say. Over the next couple of years (to present) I increased this amount each month by varying amounts (£100-£500). To date I now have £11.5k in bonds and have not won another penny!!

I am slightly annoyed that if I had kept these funds in a savings account I would have a bit more to show for it, but I enjoy the chance of winning each month and am optimistic that I will win big one day.

So for those out there who see it as a get rich quick scheme, this very rarely happens. For those out there who like the idea of saving each month with a small chance of getting a nice return, I would say give it a punt.

**woody123**

Hi all,

I wonder if any of you can help answer a question for me.

I am in the middle of my premium bond application and have received a letter asking me to send back documents that have been certified by someone like a Doctor, Civil Servant & Teacher etc.. they cannot be related by birth or marriage.

My cousin's wife is a Social Worker but i'm wondering whether she would be acceptable as someone who could certify my documents. She has a different surname to me and lives at a different address. My thinking is because we aren't directly related through marriage i.e my sister marrying a social worker then it should be ok. Am i right?

Thanks for reading.

amar4eva

any advice on what I should do with 10k spare.. was thinking PB (top paying rate at the moment is 3.3%) disgusting from my point of view. Am thinking PB are worth a gamble... at least I get my money back if I don't win... which is more than what I can say about roulette!

Foregoing £300ish for the chance for more?

Opinions?

SplanK

well I put in £800 early this year to prevent me from spending it before putting it into my ISA next year and last week got a cheque for £25! not bad for a few months "investment" in PB... but as mentioned - its not g'teed to return anything - you could be really unlucky and not get anything for years, or ever!

D1zzy

amar4eva wrote: »

Foregoing £300ish for the chance for more?

Opinions?

Or maybe less!!
I think you have to regard it as a bit of fun. Its unlikely you'll win big, but even winning £25 is a bit of a buzz, and if you can do without the £300 (though you can get 4% with LTSB Vantage) why not.

I have had £12000 for a few years - have never won big, but won £50 most months until they introduced £25, and since then have won £25 every month bar 1.

Dissillusioned

No one has really mentioned that if you put money in PB you are at least saving,rather than spending,which is good!
You can argue about stats,percentages and figures all day long but I think for most people its just a way to save money,with a bit of fun thrown in to be in with a very small chance of hitting one of the big prizes, yes?

lingwood

That is a very good post Dissillusioned.

That is how I viewed my PB, yes I have cashed them in for other reasons, but when I get things sorted out I will set up another DD for £50 per month PB.

It is better to put £50 a month in PB than under my pillow, and more so than £50 per month on lotto tickets

rb10

Dissillusioned wrote: »

No one has really mentioned that if you put money in PB you are at least saving,rather than spending,which is good!
You can argue about stats,percentages and figures all day long but I think for most people its just a way to save money,with a bit of fun thrown in to be in with a very small chance of hitting one of the big prizes, yes?

As long as they are just viewed as a bit of fun, then I think that view is fine, and it's great if it gets people saving who wouldn't otherwise.

Unfortunately, some people really do believe that they are a good investment.