Premium Bond Winner ?

grebbo

£50 for me with maximum holding

Princess_Coupon

Hubby for some unknown reason started spending £10 a week on the lottery needless to say 3 months later only a couple of £10 wins. Thought it would make more sense to buy PB as at least he will keep his stake.Looked on the PB site and it says min £100, is this just for initial investment? so could he buy £100 then add £50 every month? or every month is it min of £100?

isofa

ratcrazy wrote: »

I've not read all the thread a lot of pages! I had premium bonds bought for me starting in about 1970 but lost them when I was about 20 so sent the form off a while ago to trace them and see if they had won - they hadn't so had been in every draw since 1970 and not won anything, have decided to cash the ones I recently bought in as they're not worth having for me.
I must be the unluckiest person on the planet:rotfl:

How many do you hold? If you only hold a small amount, it's perfectly normal...

Lizzieanne

£50 for me this month

rjgb

There are several people on here who say they have £20k in premium bonds, or £7k etc., and have only won £50 or £100 in ten or twenty years.

Why don't you pack them in and put your money where it can obtain some guaranteed interest?! £20k would get £1000 guaranteed (less tax) each year! Surely that's a better way to use your money??

I understand there's a bit of fun to be had, like playing the lottery, but to have so-many-thousand bonds seems ridiculous. To my mind putting £50 in per year(i.e. equivalent to one lottery ticket per week) would make sense, as then it is just a flutter.

smash

Princess_Coupon wrote: »

Hubby for some unknown reason started spending £10 a week on the lottery needless to say 3 months later only a couple of £10 wins. Thought it would make more sense to buy PB as at least he will keep his stake.Looked on the PB site and it says min £100, is this just for initial investment? so could he buy £100 then add £50 every month? or every month is it min of £100?

I believe the minimum you can buy now is £100 at a time, so it's not possible to purchase in £50 groups. If you opt to re-invest any winnings, they will accept them for £50 (or over).

Hope that helps.

redsaz

Princess Coupon

The minimum you can purchase by phone, post or online is £100.

You can set up a standing order from your bank account for £50 or more (in multiples of £10) - for a pdf of the standing order check out www.nsandi.com/http://www.nsandi.com/products/pb/savingregularly.jsp. Take it to your bank - DO NOT send it to NS&I.

You can reinvest your prizes (including £50's) by setting up a reinvestment mandate. You cannot send a prize warrant back and ask for it to be exchanged for Bonds.

Hope this helps

Jonbvn

rjgb wrote: »

There are several people on here who say they have £20k in premium bonds, or £7k etc., and have only won £50 or £100 in ten or twenty years.

Why don't you pack them in and put your money where it can obtain some guaranteed interest?! £20k would get £1000 guaranteed (less tax) each year! Surely that's a better way to use your money??

I understand there's a bit of fun to be had, like playing the lottery, but to have so-many-thousand bonds seems ridiculous. To my mind putting £50 in per year(i.e. equivalent to one lottery ticket per week) would make sense, as then it is just a flutter.

Hopefully on MSE you are preaching to the converted! Unfortunately far too many people hold PB's as their may savings vehicle (AFAIK). Even on MSE, you will see "I luvs me bonds cos I never loses me money" type posts. With real inflation biting now, such posts have reduced considerably.:money:

mayb_2

well I for one am still here Jonbvn (not all my money is in pbs as I have ISAs). With the way banks and building societies are going right now perhaps we are not so stupid as you think - time will be the judge.

vixster

Thanks for the reply Jonbvn.

Not typing with my nose but a bottle of wine, lol! and just realised how poor my typing was, lol!!

vix