premium bonds (merged)

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welshgirlcats1
welshgirlcats1 Posts: 39 Forumite
in Savings & investments
which forum is the premium bonds

marion
«1345

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  • bonvonnie
    bonvonnie Posts: 536 Forumite
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    I'm not sure what you mean, but there isnt a forum on here just for Premium Bonds.

    you can check them out here https://www.nsandi.com
  • welshgirlcats1
    welshgirlcats1 Posts: 39 Forumite
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    I have recently bought 20000 pounds worth of premium bonds 1 block of 15000 and a separate block of 5000 first draw october, cant wait to see if I will win, 50.00 would be nice, how many people have won on their first draw

    thanks
    marion
  • bonvonnie
    bonvonnie Posts: 536 Forumite
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    i have about the same holdings as you, and i won on the 2nd or 3rd draw, 2 lots of £50!! not bad. better than any interest in any high savings account, i say
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    better than any interest in any high savings account, i say

    You are in for a disappointment then.

    Premium bonds are a lottery. On average, the payouts are lower than savings accounts. I have a client that put £10k Dec 03 and won above average in the first year. This currrent year he has hardly won a thing and unless something happens between now and december, I will be placing that 10k back into his proper portfolio.

    I have never come across a big winner with Premium bonds.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • BWZN93
    BWZN93 Posts: 2,182 Forumite
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    I work in a bank and its quite amusing to see the winning cheques that get paid into accounts. I usually see £50 quite regularly, but had a £2700 the other day. Lucky person!

    Jo xx
    #KiamaHouse
  • JasonG_2
    JasonG_2 Posts: 19 Forumite
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    I quite like the idea of premium bonds, not that I hold any. When clients ask about them i say they are fine, but basically a gamble which the outcome is most lilkely a rate around a poorly paying savings accout with the risk of not keeping up with inflation. But yes of course you could be a millionionaire.

    I always thought I would get some when I have enough money for it not to matter as they would be fun. ;)
    Views expressd are just that, views and opinion, they are not financial advice, as that requires much detail and work and everyone is different. Advice should be taken, in my opinion, from a professional financial advisor. PS. Good luck. ;)
  • Amanda65
    Amanda65 Posts: 2,076 Forumite
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    I put £4000 in in January and have won 3 lots of £50 so far! I love checking the site each month to see if I've won and so far I am way ahead on interest rates.
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    Amanda65 wrote:
    I put £4000 in in January and have won 3 lots of £50 so far! I love checking the site each month to see if I've won and so far I am way ahead on interest rates.

    No you are not.

    You are running at 4.5% average which is lower than what you would have got on a savings account.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • nrsql
    nrsql Posts: 1,919 Forumite
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    dunstonh wrote:
    No you are not.

    You are running at 4.5% average which is lower than what you would have got on a savings account.


    It's tax free so he is probably way ahead of everything but an isa.
  • pkrnts
    pkrnts Posts: 73 Forumite
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    Anyone know which date the draw is held on each month?

    I had a quick browse on the nsandi site but didn't find anything, surely it's a fixed date isn't it?

    Thanks!
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