Premium Bonds Article Discussion Area

innovate

I meant the dismay with lower price money

Anyway, we are having a totally academic debate here - it hasn't happened.

lardlikesdogs

spam off :j

colsten

NS&I adds 52,000 extra prizes from August draw: http://www.nsandi.com/media-centre-nsi-increases-prize-fund-rate-premium-bonds

But odds of winning remain 26,000:1

sailcast

my family and i have bought and heid premium bonds since they started. we received a steady return over the years,but that has dropped to near zero on many monthly draws. i think the 2 million top prizes should be reduced to one £500,000. The basic £25 prize should be scrapped and replaced with £50, to give a fair return to savers who depend on a resonable return for their savings. A voteing system should be set up to give bond holders a say on their savings . two bond holders should not hog the bulk of the prize money every month. spread the wealth around fairly.

Shark

sailcast wrote: »

my family and i have bought and heid premium bonds since they started. we received a steady return over the years,but that has dropped to near zero on many monthly draws. i think the 2 million top prizes should be reduced to one £500,000. The basic £25 prize should be scrapped and replaced with £50, to give a fair return to savers who depend on a resonable return for their savings. A voteing system should be set up to give bond holders a say on their savings . two bond holders should not hog the bulk of the prize money every month. spread the wealth around fairly.

Don't check how much the stock market has gone up in that same period.

Analysts working at NS&I are smart people (Hard to believe sometimes I know!) and the breakdown is well thought out imo.

ColdIron

sailcast wrote: »

The basic £25 prize should be scrapped and replaced with £50

Hard to see what halving the chance of double the win would achieve over the longer term and would probably disadvantage smaller holdings in the short term

to give a fair return to savers who depend on a resonable return for their savings

Most savers who depend on a reasonable return probably shouldn't be using PBs as the return is pretty poor in comparison to other options available

A voteing system should be set up to give bond holders a say on their savings . two bond holders should not hog the bulk of the prize money every month. spread the wealth around fairly.

I have absolutely no idea what this means

In_For_A_Penny_2

sailcast wrote: »

my family and i have bought and heid premium bonds since they started. we received a steady return over the years,but that has dropped to near zero on many monthly draws. i think the 2 million top prizes should be reduced to one £500,000. The basic £25 prize should be scrapped and replaced with £50, to give a fair return to savers who depend on a resonable return for their savings. A voteing system should be set up to give bond holders a say on their savings . two bond holders should not hog the bulk of the prize money every month. spread the wealth around fairly.

I think you've missed the whole point of PB's.

montymogg

When i was a child my parents bought some Premium Bonds for me which at that time you could buy £1 at a time. I am going back to the 1960's. So I have £7 worth of premium bonds. Do they still get entered into the draw? When looking at the draw details no one seems to have held the bonds for 50 years as i have.

steelbru

Yes, every premium bond that has ever been issued ( and not cancelled ) is in the draw

cjth33

My wife and I are contemplating the wisdom of Premium Bonds as a very short-term investment. We're moving house, and we're likely to have a period of up to 3 months (staying with family) between our sale and purchase. The surplus from our sale (after redeeming our mortgage, conveyancing fees, estate agent's commission etc) will be around £250,000.

We need to find somewhere to put it, just for a few months as we'll need to get the money back promptly for the deposit on the new house. The interest we'd earn on a savings account would be fairly modest (and taxable).

So we're contemplating putting what we can (the limit is now £50,000 each, I understand) into Premium Bonds. The calculator here suggests with average luck our joint £100,000 could earn £300 over 3 months, with a chance of more - or less - and a reasonable chance of beating a savings account.

What do people think? Does this seem like a moderately sensible thing to do with a spare £100 grand for a few months?

And what about the other £150,000 above the Premium Bond limit? Anyone have any thoughts on where we should put that for 3 months?