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Premium Bonds

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Can someone explain to me what they are? Anyone got any?
Civic EG6 Avatar
1d, 3m agoPosted 1 decade, 3 months ago
Can someone explain to me what they are? Anyone got any?
Civic EG6 Avatar
1d, 3m agoPosted 1 decade, 3 months ago
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#1
have a read of this here
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1161700153,9594

pm me if you have any more questions
:)
#2
Wow, my mum has £2's worth of really old premuim bonds, wonder if theyve got anything for her, she could be a millionaire without knowing
#3
avoid is my advice..unless you're feeling lucky...I had mine for 2 years and the returns equalled about 3%...better to stick it in a high interest savings account...or a unit trust...but you've missed all the recent gains and I doubt there's a great deal more left in the booming stock market.
#4
i have alot of premium bonds and regularly win £50 to £150 every month.

basically you win money like a lottery but you dont get any intrest on your money.
#5
Avoid them. I got the full whack in them. After December will be withdrawing them and putting into a savings account. In 5 months I've won 50 quid. Interest would have been about £650.
#6
Youve got £30,000 in there :o
#7
well i won £250 in the last 3 months, so just luck i guess.
#8
Yer it is luck, or its supposed to be. Any finanicial advisor will tell you to stear clear of premium bonds though. I just thought I'd give it a go.
#9
alan sugar would recommended them...
#10
landofdan
alan sugar would recommended them...


You'd recommend them if you were paid to do so!!
#11
It comes down to luck basically, just it hasn't worked for me, will give the december draw a go and then cash them in.

However, you'll never get the chance of a million with intrest! Just myself personally have lost enough on premium bonds, plus I always hear the saying that your money is worth less over a number of years or something because of inflation. Don't really get what they mean, but to anyone brainy enough, it might mean some sense!
#12
ahh, screw it then. Am gonna do a few months of research into companies and start buying some shares.
#13
My son was bought ONE premium bond when he was born, almost 18 years ago, by his grandad. When he was nine yrs old, he won £1,000!!! No kidding. Nothing before or after mind you! One premium bond though, netting that much money. Great stuff! On the other hand, I know people with thousands of pounds worth, who don't win a sausage.
#14
I was given two when i was born (I'm 23 now) and i've won £50 twice - go me! :giggle:
#15
Well I didnt win anything in the last draw either, for having the full whack. Maybe they just don't like me!
#16
Probably more sensible to save lottery expenditure and buy premium bonds with that money instead, other than that, they're a low risk-low return investment with the vague and unlikely possibility of a big payoff.
#17
i have 500 premium bonds, had them a year now and aint won nowt lol. but im kinda just gonna forget about that money and keep the bonds forever. i may add a bit to it eventually, or maybe not lol.
#18
They do say that if you have the max your chances of winning are greater - I'm sure this is probably one of those 'old wives tales'. However, speaking from experience, cashing in my small amount & getting the max, I have won between £50 & £200 each month. Hopefully, this remains the case - come on you million!!

I'm just a gambler at heart:roll:
#19
disease
They do say that if you have the max your chances of winning are greater - I'm sure this is probably one of those 'old wives tales'. However, speaking from experience, cashing in my small amount & getting the max, I have won between £50 & £200 each month. Hopefully, this remains the case - come on you million!!

I'm just a gambler at heart:roll:




well the odds are 24000:1, so if you've got £30,000 worth the odds are in your favour - they also say that with the max amount of bonds you should win 15 prizes a year. how many prizes do you usually win each year? lol. i check the high prize winners every month and the million pound prizes are usually won by people with atleast £20,000 worth, so i guess i have zero chance of winning:-( lol
#20
think my dad bought some of these like 30 years ago, still got them but cant be bothered checking
#21
How do you check them? How do you know if you have won??

Just curious as MIL has some!
#22
birdyboyuk
How do you check them? How do you know if you have won??

Just curious as MIL has some!




check them online - [url]www.nsandi.com[/url]
#23
I would love to buy some but they do not accept Visa Electron!
#24
http://www.nsandi.com/products/pb/haveYouWon.jsp

you will need your bond holders number, which will be on the bonds, if you have lost or cant find them you can send them email and they will probably tell you to send a letter explaining, and they will send you it.

and just to show it does work, i won £300 in the last 6 months.:-D
#25
For those saying stay clear it's not like you lose your money so better than playing playing the lottery with nothing to show for it:thumbsup: .

Wouldn't advise having all your savings in PB's though as it not likely to be the best possible return on savings but always that chance :)
#26
Don't get them.

Unless you can afford to put the maximum in them, then your chances of winning more than a rate of interest would give you anyway are very slim.

Plus, a big deal is made of the fact that they're apparently "low-risk" as there is no chance of your capital going down - whilst technically they're right about your capital, they're not low-risk as col would seem to suggest.

You know how a Twix would have cost you 25p 10 years ago and is now 38p? That's inflation.

In short, if you put £1,000 into Premium Bonds just now, in ten years time if you hadn't won anything you would be able to withdraw £1,000 - exactly the amount you put in. However, that £1,000 in 10 years isn't worth anywhere near as much as £1,000 is worth just now.
#27
Gaz
Don't get them.

Unless you can afford to put the maximum in them, then your chances of winning more than a rate of interest would give you anyway are very slim.

Plus, a big deal is made of the fact that they're apparently "low-risk" as there is no chance of your capital going down - whilst technically they're right about your capital, they're not low-risk as col would seem to suggest.

You know how a Twix would have cost you 25p 10 years ago and is now 38p? That's inflation.

In short, if you put £1,000 into Premium Bonds just now, in ten years time if you hadn't won anything you would be able to withdraw £1,000 - exactly the amount you put in. However, that £1,000 in 10 years isn't worth anywhere near as much as £1,000 is worth just now.



LOL but inflation on a few hundred pound means nothing :)

So what your saying is if I invested my money in a Twix ten years ago I would be out of pocket by 13p:giggle:

Would ather risk losing out on inflation than lose my whole capital investment which is the case with shares and the lottery ;)
#28
col
LOL but inflation on a few hundred pound means nothing :)

So what your saying is if I invested my money in a Twix ten years ago I would be out of pocket by 13p:giggle:

Would ather risk losing out on inflation than lose my whole capital investment which is the case with shares and the lottery ;)


There are plenty things that you can invest in that offer no risk to capital... plus, I'm guessing people would have a lot more to invest than 25p if they're looking for Premium Bonds... ;-)
#29
Gaz
There are plenty things that you can invest in that offer no risk to capital... plus, I'm guessing people would have a lot more to invest than 25p if they're looking for Premium Bonds... ;-)


True but inflation is only 3%.

So if you invested £1,000 and didn't win a sausage in first year your only losing £30 or equivilent of not a lot really.

But if you want to compare that with a savings account paying 6% £1,000 could earn £60 :) but no chance of any big winnings here.

I say mix it but no point in buying PB's if you have no savings.
#30
my girls had £5,00 each in a 5 year saving plan and got £235 intrest in 5 years.... in the first year of buying 15,000 premium bonds they have won £900 +, usually winning £50 or £100 a month... so I would say it's worth getting them you don't lose your original amount and may just win £1 Million!
#31
I was told that you can have a better chance of winning by buying new bonds periodically,cashing them in and buying new ones again.

I do financial surveys and a few peeps have said this to me(they had significant amounts though).

Why this should be the case I don't know as all bonds theoretically should have the same chance of winning.
#32
muckypup
I was told that you can have a better chance of winning by buying new bonds periodically,cashing them in and buying new ones again.

I do financial surveys and a few peeps have said this to me(they had significant amounts though).

Why this should be the case I don't know as all bonds theoretically should have the same chance of winning.


New bonds have exactly same chance as old ;)

Only reason more new bond numbers win is cos their are more newer bond numbers :)
#33
Myth 3: “Only new Bonds win prizes”
Each £1 Bond number has an equal chance of winning, regardless of when it was bought. Bonds purchased more recently may seem to win more often, but this is because there are more new Bonds than old ones. Since the £1 million jackpot prize was introduced in April 1994, more Bonds have been sold than in the preceding 37 years put together.

:thumbsup:
#34
my mums thinking of getting the maximum amount and keeping them up until the special draw - think its either june or july. guess its really just a ploy to get more buyers - and its working:giggle:
#35
anyone win anything this month? lol, i didnt:-( oh well:)
#36
Never have my bond number's handy so will have to see if a cheque arrives mid month :)
#37
i know mine off by heart lol.
#38
dunno
i know mine off by heart lol.


:)

I do check on teletext cos this shows the county of winner's along with their holding so I would notice if it might be me:)
#39
dunno
anyone win anything this month? lol, i didnt:-( oh well:)


i won £100 in the february draw, the march draw will take place in the next few days

usually 3 working days from the start of the month, so will probably be monday.
#40
Think you're right about the draw as I can only see my £200 for February. My husband gets most upset as he never seems to win very often - let's hope it's saving up for the big one!!!!

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