Premium Bond Winner ?

Zars

Hi all,
I've been saving since 2010 with the goal of hitting max holdings in PB... In Aug I've managed to do that, but now on I have no goal and don't know where to put my money..

I'd like to consider S&S ISA but this site doesn't have much info on that.. Any advise would be much appreciated.

Gers

I've just cashed in my £10k holding - been in a year and only won £50.00 so for me the 3% current accounts are a better bet. Have opened two new TSB Enhance accounts and so will fill them both with the required £5k each. Already got Lloyds and BOS Vantage accounts so am happy with the new ones to add to the 'portfolio'.

I suppose if saving accounts interest rates where much higher than I'd be more inclined to leave the monies in PB.

cashbackproblems

I used to have PB's years back and sold as rates were good, i wasnt winning much and they didnt do £25 prizes.

However recently had a few spare K's and hardly worth the few pence in interest so have bought some more bonds and will drip feed £200 p/m.

You can not compare PB's with what you could earn in the bank, as with PB's your paying a small amount (or losing a small amount) for the chance of winning bigger, and like the lotto you do not lose your initial investment.

CLAPTON

cashbackproblems wrote: »

I used to have PB's years back and sold as rates were good, i wasnt winning much and they didnt do £25 prizes.

However recently had a few spare K's and hardly worth the few pence in interest so have bought some more bonds and will drip feed £200 p/m.

You can not compare PB's with what you could earn in the bank, as with PB's your paying a small amount (or losing a small amount) for the chance of winning bigger, and like the lotto you do not lose your initial investment.

you are simply gambling with the interest you would otherwise earn if you saved

so if you have 1,000 in PB and you could get (say) 1.5% AER in a savings a/c then you are gambling with £15 per year

cashbackproblems

CLAPTON wrote: »

you are simply gambling with the interest you would otherwise earn if you saved

so if you have 1,000 in PB and you could get (say) 1.5% AER in a savings a/c then you are gambling with £15 per year

£15 a year!! a gamble worth taking!

Plus PB's have much smaller prizes now so even if you win one £25 you are "quids in"!

Momomo_2

It's a toughie with Premium Bonds. I personally, do not believe in them. I held £2200 in them for two years and won nothing.

I currently invest in several other vehicles including a S&S ISA, regular savings account, Zopa, Funding Circle and few other savings accounts. Overall, my passive income from investments is £120 a month.

Now, my dad on the other hand is convinced that PBs are the way to go because there's always a chance you can win 'big'. I'm happy for him to invest his money in this way because if he's wrong or right it's a win-win situation for me (sounds a bit harsh). If he doesn't win, it will prove that my investing plan is more solid (if I wanted a gamble, I'd take some of the interest I get each month and buy a lottery ticket) but if he does win he said he'll give me £30,000 in PBs. :T

Stompa

Momomo wrote: »

Now, my dad on the other hand is convinced that PBs are the way to go because there's always a chance you can win 'big'.

Well that's true of course, it's just that the likelihood of a big win is very very very small!

ukflippy

I started in premium bonds in Jan 2012 with £1000, adding around £100 a month, as well as the occasional lump sum. Won nothing until May this year, at which point I had £3700. Between May and now, I've personally added another £3400, and won £200 (1x£100, 4x£25). Over the last 12 months, I've earned 4.3%, based on my average balance during that year. Obviously, those same sums worked out at 0% 4 months ago, so it's clearly hit and miss.

At the moment, for me, it's a bit of fun as it's a small %age of my savings with no effective risk. It's also the first place I go if I need to raid the savings.

MrRee_2

I started in PB's in 1958 and still hold from that date - I would love one from 1958 to win something, wouldn't that be good!?

Won 2x £25 this month on max holding.

I'm a HR Taxpayer so really a no-brainer for me as part of my portfolio.

Party_Animal

£25 last month and 3 x £25 this month. Hope they do come in 3s!