Premium Bonds

Guest2 said:
Arent these the things that were purchased in the 80s by great grandparents for their great grand children (that are now long gone) which sat there did pretty much nothing for 30 years
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Well it's a lottery. The vast majority will lose. That's how it works.
 
Yeh Halifax are dropping my help to buy isa from.4% to 3.5% in Dec.

You don't lose with premium bonds. You just rarely win anything.

I'm only using it for short term money holding but will look in to the peer to peer thingy or fixed rate short term bond for 6 months
 
I have a few - Started in late 50's with five one pound bonds and years later I had a letter from DSS asking if I lived at address they had put on letter - Yes so there was my first win of £50.

When I was working 6 days a week I had no time to spend my money and Internet wasn't available so just bought bonds with spare money each month - I have returned about 1.5% interest in last 35 years.

In fact I am earning more now than if I invested it - You do need more than £500 though.
 
Pawnless Endgame said:
I did have 500 bonds (£500) for 3 years between 2006 and 2009. Didn't get a sausage. Then I got made redundant and apparently having premium bonds affects your JSA so I cashed it all in and signed on.

Tbh, I have better luck playing the 1 armed bandits :p
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Only affects JSA if you're on Income based JSA. You lose £1 for every £250 above £6k saved.
 
norm said:
Well it's a lottery. The vast majority will lose. That's how it works.
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exactly, until the recent cut you may as well have invested in a high interest account and bought some lottery tickets with some of the interest... you'd still be ahead

DJMK4 said:
You don't lose with premium bonds. You just rarely win anything.
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you potentially lose the interest which is typically at a lower rate than other safe investments/accounts and just goes into a pool then split up via a lottery system
 
I'm 25 quid up from when I started. Not had any loss even with recent cuts

It was only a temp place to store some excess savings
 
Considering how much my ISA and savings account rates are dropping in the near future it's very tempting to just roll the dice and put everything in bonds. Realistically I won't be that much worse off if I win nothing
 
Repta said:
Considering how much my ISA and savings account rates are dropping in the near future it's very tempting to just roll the dice and put everything in bonds. Realistically I won't be that much worse off if I win nothing
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there are other more sensible ways like p2p lending, funds etc. have a look in those threads. ratesetter probably one of the safest due to their protection fund.
 
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