Time to dump Premium Bonds?

sandy700

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

subjecttocontract

I don't think there is any single answer to the original question. We are all different, have varying amounts to hold in p/bonds, pay different tax rates, need different access to funds et c etc. What suits someone with £5k or £10k doesn't suit another with £100k. 

mebu60

sandy700 said:

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

It? One premium bond? 

You need to have £1k to have a reasonable chance of winning a £25 prize in a year.

EssexHebridean

mebu60 said:

sandy700 said:

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

It? One premium bond? 

You need to have £1k to have a reasonable chance of winning a £25 prize in a year.

You can always hope, though...  

Ours are shortly to be cashed in - we'll leave them in for another couple of draws, but after that they will be required towards a house purchase. Their days are numbered! 

sandy700

mebu60 said:

sandy700 said:

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

It? One premium bond? 

You need to have £1k to have a reasonable chance of winning a £25 prize in a year.

Yes one premium bond.

A £1 was a lot of money in 1969

My mother gave me £1 and told me to buy a premium bond for her new born grandson

MX5huggy

sandy700 said:

mebu60 said:

sandy700 said:

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

It? One premium bond? 

You need to have £1k to have a reasonable chance of winning a £25 prize in a year.

Yes one premium bond.

A £1 was a lot of money in 1969

My mother gave me £1 and told me to buy a premium bond for her new born grandson

So it’s not even yours! You’ve denied your son his birth right! If only you had put in a FTSE tracker it could be justified. 

boingy

I cashed all of mine in a couple of months ago and that money is now earning over 4% with Chip, paid monthly. The monthly amount is comfortably higher than all but one of my "PB months" across many years. The interest is not tax-free and can't make me a millionaire but I had too many months with just one £25 prize or even no prizes from a maximum holding. I'll keep an eye on the PB prize rates but I currently have no plans to return to PBs. And I definitely don't miss the NS&I website. They must be the only company in the world to send you a message telling you to check your account then when you try to do so they tell you the site is busy and put you in a queue. A queue for a website!

Eco_Miser

boingy said:

And I definitely don't miss the NS&I website. They must be the only company in the world to send you a message telling you to check your account then when you try to do so they tell you the site is busy and put you in a queue. A queue for a website!

British Gas do that as well, and probably others. Any site mentioned by Martin Lewis on his tv programme would probably benefit by having a queuing system instead of just crashing.

JGB1955

I cashed in 20K of my full holding a couple of months ago and have, since, won £325 over 2 months on £30K - seems like they want to keep me!  

badger09

sandy700 said:

mebu60 said:

sandy700 said:

I am still keeping mine although I have had it since 1969 and never won.
Hardly worthwhile cashing it in.

It? One premium bond? 

You need to have £1k to have a reasonable chance of winning a £25 prize in a year.

Yes one premium bond.

A £1 was a lot of money in 1969

My mother gave me £1 and told me to buy a premium bond for her new born grandson

I have 18 x £1 PBs from when they were 1st issued (1956/7?). Never won anything, but I’m not bitter.