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Premium Bonds



poidy

Well-known member
Aug 3, 2009
1,842
Looking at sticking my life savings into Premium Bonds soon rather than leaving them in my savings account at the current shitty rates of interest.

Has anyone ever won anything on here?

Pros and cons would be nice as well

Cheers
 

Paul Reids Sock

Well-known member
Nov 3, 2004
4,458
Paul Reids boot
A guy I work with raves about them and has made a fair bit of cash. In his experience they make you a lot more money than savings accounts interest rates
 

CorgiRegisteredFriend

Well-known member
May 29, 2011
8,304
Boring By Sea
If you are a higher rate tax payer they could be worth investing in as prizes are tax free. Chances of winning the big million are notoriously poor.
 


withdeanwombat

Well-known member
Feb 17, 2005
8,688
Somersetshire
I've had three since 1958 and still haven't won.

Mind you,apart from inflation,I haven't lost,either.
 

Surf's Up

Well-known member
Jul 17, 2011
10,135
Here
My partner's sunk a wedge into premium bonds, gets £25 back on a reasonably regular basis - averages out at about 4% interest pa so not too bad. Not a sniff of a "big one" though!
 


life on mars 73

New member
Oct 19, 2010
264
For the last few years, I've been averaging at about 3.5%, tax-free. But you've always got the fun and anticipation at the beginning of each month. I like them.
 

soistes

Well-known member
Sep 12, 2012
2,642
Brighton
Looking at sticking my life savings into Premium Bonds soon rather than leaving them in my savings account at the current shitty rates of interest.

Has anyone ever won anything on here?

Pros and cons would be nice as well

Cheers

I've got about £8k in premium bonds and last year got £200 in prizes. So that worked out at around 2.5% which is equivalent to 3.1% i a building society if you're a basic rate tax-payer or 4.2% as a higher rate tax payer. Which isn't too bad

Pros:
Capital is safe
You stand (an admittedly tiny) chance of a big win
Returns are tax-free

Cons:
Average returns are fairly low (the price of a secure investment)
You're not guaranteed anything at all (last year, I only got around £100 if I remember correctly)
You can only put a max of £30k in premium bonds, so if your life savings are bigger than that, you'll still need to look elsewhere.
 
Last edited:

CorgiRegisteredFriend

Well-known member
May 29, 2011
8,304
Boring By Sea
If you win the mightly million a female representative will apparently visit you at home to confirm you are who you are and hand over the big cheque. Not happened to me yet.
 


mune ni kamome

Well-known member
Jun 5, 2011
2,218
Worthing
20k has seen me win 3 X £25 (£75.00) in exactly 6 months. Not too impressed but there could always be the "big one" in the next draw.

Looking around for something better. Wondering about Luke Donald for the Masters 45/1 at present
 

Joe Gatting's Dad

New member
Feb 10, 2007
1,880
Way out west
If you have the full £30,000; particularly in a block; you will probably win between one and three £25 prizes a month. remember the Government is only putting in 1.5% into the fund, so do not expect more than 1.5% back.

The chances of winning £5,000 or more is remote.

Since 1958 only once won £100 prize, otherwise only £50. However, for the past few years when they reduced the lower prize, have only received £25 ones, but on a fairly regular basis.

You will not lose your capital sum but bear in mind that with inflation, the real value will fall each year and probably never keep pace with inflation from winnings, unless you are very lucky.
 

dejavuatbtn

Well-known member
Aug 4, 2010
7,097
Henfield
In days of low intrest rates they offer a reasonable return. Mine are running at around 2%. They are good for the risk averse amongst us IMO.
 


Stat Brother

Well-known member
NSC Licker Extraordinaire
Jul 11, 2003
73,270
West west west Sussex
Being a postman I can confirm when it comes to Premium Bonds 'money goes to money'.

There are houses that get multiple 'small' on a monthly basis.
 
You can easily beat the 1.5% offered on an Isa.

If you like the idea of a possible big win, then take a 3 year cash isa with the Halifax and earn 3%. Not knowing how much your life savings are, but if you invest £5000+ you will also be eligible for their monthly prize draw which can win you anything from £100 to £250,000
 

Mellotron

I've asked for soup
Jul 2, 2008
31,671
Brighton
Without looking to advertise my services TOO much, you could make a darn sight more investing in investment Bonds. Even the most low risk investments we offer usually return far far more than the average Premium Bond return.
 


Beach Hut

Brighton Bhuna Boy
Jul 5, 2003
71,891
Living In a Box
They are OK we average around £300 a year but never the big one.

Think the highest ever single win was Mini with £100
 
Apr 17, 2011
277
Shoreham
Looking at sticking my life savings into Premium Bonds soon rather than leaving them in my savings account at the current shitty rates of interest.

Has anyone ever won anything on here?

Pros and cons would be nice as well

Cheers

In the last 3 years have won £575 - and just checked on line and am due £175 this month.:drink:
So yep, i would recommend them.
 

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