premium bonds is it worth it?

Mickygg

From what I read no one ever wins a decent amount on premium bonds.

I have a small amount, never got anything so I'm going to pull out and put into savings as no one ever seems to get anything.

colsten

Mickygg wrote: »

From what I read no one ever wins a decent amount on premium bonds.

You are not reading about all the monthly 1m, 100K, £10K winners then? What's decent in your view?

TheTracker

PBs are only useful if you've used up all the current accounts (50k+) and the at least 170k in accounts that pay higher than pb's and stay under the 85k full protection. So maybe if you have 250k+ in cash you may want to look at the wonderful 1.1% of interest you may achieve on everything over 250k. Which probably doesn't appeal if you have 250k+ in cash, as that probably means you have 1m+ in fairly liquid assets. I can only ever see usefulness as a temporary store when you sell a house or liquidate funds to buy one or if you have a 7 figure portfolio or if you're a higher rate tax payer with 6 figures in cash.

Then again half the nation are chumps and PBs are ridiculously popular.

CLAPTON

TheTracker wrote: »

PBs are only useful if you've used up all the current accounts (50k+) and the at least 170k in accounts that pay higher than pb's and stay under the 85k full protection. So maybe if you have 250k+ in cash you may want to look at the wonderful 1.1% of interest you may achieve on everything over 250k. Which probably doesn't appeal if you have 250k+ in cash, as that probably means you have 1m+ in fairly liquid assets. I can only ever see usefulness as a temporary store when you sell a house or liquidate funds to buy one or if you have a 7 figure portfolio or if you're a higher rate tax payer with 6 figures in cash.

Then again half the nation are chumps and PBs are ridiculously popular.

PBs are gambling

you gamble with the interest you would otherwise have got if you had saved the money instead

'useful' isn't a word to describe gambling

you may consider people who gamble with a few bob as 'chumps' but that's more a reflection on your disdain for people's free choice than a reflection on them.

Seanymph

There is an online checker for premium bonds. If mine go quiet I check them online and I always seem to win again. I've only £1500 in there, for fun really, but I've won three times in the last year.

Paul_1977

Seanymph wrote: »

There is an online checker for premium bonds. If mine go quiet I check them online and I always seem to win again. I've only £1500 in there, for fun really, but I've won three times in the last year.

:eek::eek::(

I have 12k and have won four times. oh dear.:D

gkerr4

i have £5k in them "for a bit of a laugh" really - its a small part of my overall savings / investments.

I had a decent run on wining £25 quite often last year - including one month (june i think) where i won two x £25 prizes that month. I thin it worked out about 1.5% return last year - i'm happy enough, they make a little bit of an "alternative" and i guess you have to be in them to win them eh!