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Investing in premium bonds....

TheBoss96 Avatar
2y, 2m agoPosted 2 years, 2 months ago
Are investing in premium bonds worth it?

I sort of have around £300 cash spare, so I thought I might invest them in premium bonds.

I know I will probably won't win anything but seems a bit of fun.

Or is it worth opening up an ISA etc.

Thanks :)
TheBoss96 Avatar
2y, 2m agoPosted 2 years, 2 months ago
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Top Responses

(1)
greenmachine12
How is it gambling? There isn't any way you can lose your money.


Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?

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#1
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
banned#2
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.

Not really gambling because your bonds can be cashed in at anytime for a refund. The odds of winning big are pretty small though.
#3
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
They are not gambling as you are guaranteed by the british government unless that crashes then we are all ###### its just the payout is so weak on £300 you might get a £25 in a year if your lucky but then again you might get a £milllion
banned#4
better off gambling it at an auction by buying something to try and sell at a profit and its more fun
#5
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.

Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
#6
chocci
premium bonds are gambling, not investments. .

Sorry , but you are wrong.
#7
I want to buy some premium bonds for a relative's birthday but is it a boring present? That is my present predicament!
#8
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m

It would actually be £15 / year interest, not locked away.
But that's a whole different thread about bank accounts.
#9
joesmum
I want to buy some premium bonds for a relative's birthday but is it a boring present? That is my present predicament!

If it bores your relative they can simply cash in your initial deposit, just give them the cash!
#10
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m


It would actually be £15 / year interest, not locked away.
But that's a whole different thread about bank accounts.

5%interest ... do tell
#11
[email protected]
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
It would actually be £15 / year interest, not locked away.But that's a whole different thread about bank accounts.
5%interest ... do tell

TSB Current Account. Obviously gross 5% (not net).
(Paying in requirement of £500 / month, but can be moved from any other account, and straight back out same day - so either wages or presumably any other savings OP may have from the past)

Edited By: Firefly1 on Jul 05, 2014 17:43
#12
So the money one buys the premium bonds with is always safe... Unless a monumental c0ck up happens?

So if I bought £5000 worth of bonds, the £5000 is always safe for me to draw back out?
banned#13
EN1GMA
So the money one buys the premium bonds with is always safe... Unless a monumental c0ck up happens?

So if I bought £5000 worth of bonds, the £5000 is always safe for me to draw back out?

Yes.
#14
Premium bonds are bought from the post office?

Thanks for the response toshape
#15
Using a premium bonds probability calculator (google it) if you had £300 over ten years in premium bonds you'd win £25.
In a top savings account you'd earn £36


Your money would be worth considerably less than it is now in 10 years, but hey, £25

You can buy premium bonds online, I just bought some last week. I paid using a debit card and they send out a form for me to sign and then they go in to the draw a month later. After that I can just buy them online
http://www.nsandi.com/savings-premium-bonds

Edited By: davelfc on Jul 05, 2014 18:17
#16
Dude for the figures involved just shove it in Premium Bonds. Job done. ;) You just never know..........as the National Lottery would say, "It could be you!". :)

Good luck, remember me when you hit a big one, I like cider (the proper stuff), am not greedy, just a years supply and I only drink 24 cans a day. :)
#17
Too many people have them now so payouts are rubbish .
#18
norville555
Too many people have them now so payouts are rubbish .

For a £300 investment are you saying the alternative is the best choice?
#19
Thanks everyone for the advice and help, much appreciated :D

If I win big, I will forget all of you.... (_;)X)
#20
DarkEnergy2012
get yourself some Ugandan Lottery tickets...i've just won again so i'm waiting for them to pay it into my bank account

You buy yours? oO I have won Five times now without buying a ticket :p

Only problem is the monies take a long time to transfer ! Six bloody times I have given my bank details now :( Might be a problem with my account..
#21
TheBoss96
Thanks everyone for the advice and help, much appreciated :D

If I win big, I will forget all of you.... (_;)X)

Lol nothing to lose with premium bonds.

I'd buy 3 x £100 at different times of the month so you get different numbers. If you purchase them now, they will go in Septembers draw.

Edited By: 5nowman on Jul 05, 2014 19:19
#22
it is like applying for a job in MI5 on that website - think I will go to the post office X)
#23
joesmum
it is like applying for a job in MI5 on that website - think I will go to the post office X)

Haha my friend said exactly the same!!
#24
joesmum
I want to buy some premium bonds for a relative's birthday but is it a boring present? That is my present predicament!

Lucky relative if your going to give them £100. That is the minimum amount you can buy.
#25
How is it gambling? There isn't any way you can lose your money.
#26
greenmachine12
How is it gambling? There isn't any way you can lose your money.


Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?
#27
Firefly1
[email protected]
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
It would actually be £15 / year interest, not locked away.But that's a whole different thread about bank accounts.
5%interest ... do tell

TSB Current Account. Obviously gross 5% (not net).
(Paying in requirement of £500 / month, but can be moved from any other account, and straight back out same day - so either wages or presumably any other savings OP may have from the past)

Not really the £300 investment he is talking about, if your going to be pedantic at least be relevant.
#28
how often are the draws?

ive got a bit of money stored away so might as well get some bonds.
#29
Inactive
greenmachine12
How is it gambling? There isn't any way you can lose your money.

Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?

Right, so you have £300 and its not in a bank.

You then put that £300 into prem bonds.

What are both of those £300 worth? Im not on about putting it into a bank.
#30
Inactive
greenmachine12
How is it gambling? There isn't any way you can lose your money.

Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?

Also, that means your losing money all the time in life, surely the rate of inflation is above most savings account.

You must hate gambling all the time.
banned#31
Go to vegas and put the lot on red.
#32
greenmachine12
Inactive
greenmachine12
How is it gambling? There isn't any way you can lose your money.


Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?


Also, that means your losing money all the time in life, surely the rate of inflation is above most savings account.

You must hate gambling all the time.



I do, that is why I invest in bricks and mortar, long term, they will always make money.

Unlike this government controlled scam.
#33
Inactive
greenmachine12
Inactive
greenmachine12
How is it gambling? There isn't any way you can lose your money.

Of course you will lose money, the pound that you invest today, will be worth less in a years time.

Never heard of inflation ?

Also, that means your losing money all the time in life, surely the rate of inflation is above most savings account.

You must hate gambling all the time.


I do, that is why I invest in bricks and mortar, long term, they will always make money.

Unlike this government controlled scam.

Thats ok if you have a lot of money to invest with, they have upped the limit to £40,000, i dont know where you live, so £40k might get you a lot, for me thats more a deposit for a house, let alone investment in one.
#34
I had £20,000 in bonds for 1 year to test it as I had nothing else to do with the funds. I won almost every month, sometimes 2 or 3 times however all were £25 and after the year was up, I calculated I would have been better of with a savings account or one with a high interest rate.

I certainly won't be going to back to using them, also considering they reduced the interest amount twice in that year so you had less chance of winning.
#35
ibblackberry1
Firefly1
[email protected]
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
It would actually be £15 / year interest, not locked away.But that's a whole different thread about bank accounts.
5%interest ... do tell

TSB Current Account. Obviously gross 5% (not net).
(Paying in requirement of £500 / month, but can be moved from any other account, and straight back out same day - so either wages or presumably any other savings OP may have from the past)

Not really the £300 investment he is talking about, if your going to be pedantic at least be relevant.

Care to elaborate why?
#36
Firefly1
ibblackberry1
Firefly1
[email protected]
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
It would actually be £15 / year interest, not locked away.But that's a whole different thread about bank accounts.
5%interest ... do tell

TSB Current Account. Obviously gross 5% (not net).
(Paying in requirement of £500 / month, but can be moved from any other account, and straight back out same day - so either wages or presumably any other savings OP may have from the past)

Not really the £300 investment he is talking about, if your going to be pedantic at least be relevant.

Care to elaborate why?

Not really
banned#37
op give it to me and in a year's time i'll give you 10% interest
#38
ibblackberry1
Firefly1
ibblackberry1
Firefly1
[email protected]
Firefly1
Cpt Negative
chocci
premium bonds are gambling, not investments. But with only £300, you might as well gamble as you wont get hardly any interest in a year anywhere else.
Anything but gambling really. OP has £300 which is gonna get a couple of quid a year in interest (if he locks it away) might as well be in with a chance of winning £1m
It would actually be £15 / year interest, not locked away.But that's a whole different thread about bank accounts.
5%interest ... do tell
TSB Current Account. Obviously gross 5% (not net).(Paying in requirement of £500 / month, but can be moved from any other account, and straight back out same day - so either wages or presumably any other savings OP may have from the past)
Not really the £300 investment he is talking about, if your going to be pedantic at least be relevant.
Care to elaborate why?
Not really

Then I recommend my suggested option to the OP :)
#39
whatsThePoint
op give it to me and in a year's time i'll give you 10% interest

£30? And keep the £300. :D
#40
Just won the million pounds prize, thanks all. :)

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