We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Is NS&I really worth investing with?

RhondaD
Posts: 105 Forumite

I've had £4,000 in premium bonds for a while but I'm starting to think I would get better returns elsewhere. In the last 15 months I've won absolutely nothing. Zilch. Every single month, nothing. I feel I've wasted 15 whole months which even in a savings account would have earned me more. It just seems pointless investing in premium bonds. They don't seem to win anything. I've even asked them if it's usual to not even win a fiver in 15 months and they just gave the usual guff about how every bond has the same chance of winning blah blah blah, but It seems like the 5,000 bonds I bought don't have any chance of winning.
0
Comments
-
Here is this websites analysis of themIn short, you need to be above average luck to beat what you could get in savings
1 -
If you want to win anywhere near the 3% advertised prize fund figure, you'll need a lot more saved in premium bonds then £4k. If I was you, I would cash them in now and choose a savings account where the returns are guaranteed.
4 -
Thank you so much for this. I think you are right and I should cash them in. I think a savings account would be better really. Even if I'd just gained a few pounds interest over 15 months it still will have been more than NS&I. In fact I wish I had known I wasn't going to get a single win because I would have cashed them in months ago.0
-
RhondaD said:Thank you so much for this. I think you are right and I should cash them in. I think a savings account would be better really. Even if I'd just gained a few pounds interest over 15 months it still will have been more than NS&I. In fact I wish I had known I wasn't going to get a single win because I would have cashed them in months ago.
Premium bonds are more like a lottery than an investment - other than the fact you never lose your initial stake.
In a savings account you'll get a guaranteed X percent per annum - but there'll never be a surprise or chance of winning anything big. It depends on your priorities.
Guaranteed return - savings account.
Minuscule chance of a big win, and possibly the odd little win along the way, but nothing guaranteed - premium bonds.3 -
RhondaD said:I've had £4,000 in premium bonds for a while but I'm starting to think I would get better returns elsewhere. In the last 15 months I've won absolutely nothing. Zilch. Every single month, nothing. I feel I've wasted 15 whole months which even in a savings account would have earned me more. It just seems pointless investing in premium bonds. They don't seem to win anything. I've even asked them if it's usual to not even win a fiver in 15 months and they just gave the usual guff about how every bond has the same chance of winning blah blah blah, but It seems like the 5,000 bonds I bought don't have any chance of winning.
They're certainly not for everyone, but anyone buying into premium bonds should acquaint themselves with the basics about likely outcomes before committing....3 -
Hi,might as well hold just now until the January draw, then decide.Good luck.4
-
RhondaD said:I've had £4,000 in premium bonds for a while but I'm starting to think I would get better returns elsewhere. In the last 15 months I've won absolutely nothing. Zilch. Every single month, nothing. I feel I've wasted 15 whole months which even in a savings account would have earned me more. It just seems pointless investing in premium bonds. They don't seem to win anything. I've even asked them if it's usual to not even win a fiver in 15 months and they just gave the usual guff about how every bond has the same chance of winning blah blah blah, but It seems like the 5,000 bonds I bought don't have any chance of winning.Make £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...4 -
I would not bother with PB's unless you save the maximum amount allowed, (or close to it). For anything less I would just use the best savings account I could find?
.."It's everybody's fault but mine...."1 -
RhondaD said:I've had £4,000 in premium bonds for a while but I'm starting to think I would get better returns elsewhere. In the last 15 months I've won absolutely nothing. Zilch. Every single month, nothing. I feel I've wasted 15 whole months which even in a savings account would have earned me more. It just seems pointless investing in premium bonds. They don't seem to win anything. I've even asked them if it's usual to not even win a fiver in 15 months and they just gave the usual guff about how every bond has the same chance of winning blah blah blah, but It seems like the 5,000 bonds I bought don't have any chance of winning.3
-
I bought £4.5k's worth of PB's in late 2021 and won £5k earlier this year, so you just never know!
2
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.6K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards