Bonds

Lynn55

I was bought premium bonds by my dad back in the 60s but still have never won with them but I still have them and wonder whether it is really worth keeping them

dunstonh

Have you asked NS&I?

eskbanker

You could try http://www.moneysavingexpert.com/savings/premium-bonds-calculator/ to find out the chances of winning, but unless you have many thousands then your numbers are indeed pretty unlikely to come up. Having said that, yours are as likely to win as anyone else's, despite the persistent urban myth that newer ones are more successful than older ones!

teddysmum

Lynn55 wrote: »

I was bought premium bonds by my dad back in the 60s but still have never won with them but I still have them and wonder whether it is really worth keeping them

Because the stated interest rate is paid on the whole investment by millions of people, some people will win, lots or several times, while others will not win at all. The more holdings you have the more chance of winning something.


Someone with a few hundreds will probably not win anything, but my first purchase of 1000 bonds (beyond two £1 bonds from my childhood; don't know if they have won anything) won £100 on the first eligible draw. This was when the minimum win was £50, so it's like winning £50, nowadays.


If you have used up the 'high' rate paying current accounts and savers and have a few thousand bonds, I would keep them. It's like playing the lottery but not losing your stake money.

nbrewitt

Keep them, a bond belonging to a holder with a £1 holding purchased in 1964 won £10K this month

Malthusian

nbrewitt wrote: »

Keep them, a bond belonging to a holder with a £1 holding purchased in 1964 won £10K this month

For every one that did, just under one and a half million bonds belonging to people with £1 holdings won nowt.

Eco_Miser

Unless having the cash would make a significant difference to you, you may as well keep them for the remote chance of winning a significant amount.

badger09

Eco_Miser wrote: »

Unless having the cash would make a significant difference to you, you may as well keep them for the remote chance of winning a significant amount.

My thoughts exactly. I've got £18 worth from decades ago. Never won anything. But I might;)

Norman_Castle

I've got about £100 worth. Interest on that is tiny so they might as well stay there. How do the odds compare to lottery tickets?

ashteadgirl

You do not lose your money each draw:j

eskbanker

Norman_Castle wrote: »

I've got about £100 worth. Interest on that is tiny so they might as well stay there. How do the odds compare to lottery tickets?

As per http://www.moneysavingexpert.com/savings/premium-bonds:

Your chance of winning the jackpot per ticket on the National Lottery is one in 45 million in a week, far outstripping the one in over 34 BILLION chance of becoming a millionaire through one single Premium Bond in a month. Of course, though your odds go up the more bonds you have, the more chance you have of winning.
Plus bonds are entered into the draw every month, rather than as a one off.