Premium bonds

u8myufo

u8myufo

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Rich
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Not sure how many people on average have bought them, but was wondering if you have, have you won anything on them?
 
I won about £50 per year on an investment of £3k.
 
I used to do ok on thembefore they dropped the returns. I had nearly the maximum amount and was getting around a 3-4% return which is tax free, worth more to you if you are a 40% tax payer which I'm not, and the potential for a big win and being more fun than an ISA kept me there.

Now I've dropped down to a third of what I had. Partly because I used the money on a conservatory, but the rest will probably be moved too as they have slashed the prize fund.

I think they have never been as good since they introduced the £1M prizes to compete with the lottery. I think they could have sustained more interest by keeping a lot more smaller prizes.
 
I had £30k invested (I use that term loosely!!) for 1 year. I kept a note of how much I won, and made the grand total of £550!! This was before they changed the prizes to the £25 minimum. Not sure how much difference that would make.
 
Joe T said:
£50 on £3k is not exactly a good rate of return - even with interest rates as they are now! :p
Click to expand...
I know, thats why I cashed in and spent the lot on cameras :lol:
 
I had about £500 invested and won £50 over about 5 years.
 
I had a fair amount invested and avaraged about 4 to 4.5 % return for many years. However, now very little.

Ken
 
I have £1k and have only won £50. Had them about a year
 
I was tempted at one time, but resisted. The only thing you can say about premium bonds is they're safe for your invested sum, with a bit of a fun factor, but your chances of anything like decent returns are slim.

CLICKY
 
£1500 invested 12 months ago, not a penny in return.

You're better off investing elsewhere.
 
We had a few wins fairly quickly on a newly invested 30K then nowt
didn't even end up covering the interest that we would gained over a 12 moth period
so cashed them in.

The kids have had bonds since they were born 20 years average and zilch,
and no we haven't moved either, just in case you were wondering
as this seems to be the "excuse" that ERNIE uses for not paying out
(couldn't find the owners. Yeah right! )

If you're in doubt, Just give it to me. I'll look after it for you :D
 
They did advise a couple of years ago that people with older bonds should cash them in and buy new ones. Because there draw machene wasn't drawing any of the older numbers for some reason. So it could be worth doing that again incase they are having the same problem again.
 
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