Premium Bonds Have you won?
- Thread starter easyrider
- Start date
You invested £15000 of your own money? There are so many options where that money could be put to better use..
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The winning bonds are selected at random each month. It doesn't matter if you own 20,000 consecutively numbered bonds or 20 blocks of 1,000.
It's like the lottery, no one would think to put their numbers as 1,2,3,4,5,6 but it's just as likely to win as your family members birthdays.
It's like the lottery, no one would think to put their numbers as 1,2,3,4,5,6 but it's just as likely to win as your family members birthdays.
Well, you're risking a guaranteed interest rate had you had chosen to invest somewhere else rather than on a lottery.
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I got given some by a relative for my christening some 36 years ago, and I've never won a penny, although it was only something like £25
FluffySheep
FluffySheep
It's like the lottery, no one would think to put their numbers as 1,2,3,4,5,6 but it's just as likely to win as your family members birthdays.
You would think that no one would do that but it turns out ~10,000 people choose those numbers every week
How about telling us all where ? -- over how long and can you dip in without penalty or risk ? Not everyone gets million pound bonus's
The mean return % is less than a Santander 123 current account.How about telling us all where ? -- over how long and can you dip in without penalty or risk ? Not everyone gets million pound bonus's
That's getting cut to 1.5 %
https://www.theguardian.com/money/2016/aug/15/santander-slashes-123-interest-rate-savers
Average return on Premium Bonds is 1.25%.
It's worth noting that includes big winners, in reality most people will be getting less than that.
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Zimbabwe?
It's a good shout if you're extremely lucky, but the chances of a good win a year with £1000 in there (example) are extremely small, and most people will never see a win. Better off putting more money into a solid bank savings account instead.
Otherwise, it's just a secure place to save some money really... Unless you're extremely lucky. It's more for fun than anything else.
Otherwise, it's just a secure place to save some money really... Unless you're extremely lucky. It's more for fun than anything else.
Tax free though. When the average return was 5% it was great for 40% taxpayers as you were effectively getting 8% on average with no risk and you might win the million.