Premium Bonds

[pukka]

Does anyone have any and has anyone won?

 

My mate said he's got £500 worth and has won £25 6 times in a year - he is full of sh*t to be fair so I don't know whether to believe him and are these kind of returns normal?

[Crusoe]

I've one £25 once in three years on a £300 pot.

[opinions4u]

Last time I looked the prize fund was 1.5% a year of the total amount invested in PBs.

 

In other words, for every £10,000 they pay out £150 a year in prizes. A decent cash ISA should double this.

 

You'd be better off sticking your money in an easy access savings account paying 3% interest and spend that interest on lottery tickets.

 

If you were a 50% taxpayer, there's a modest case for saving in premium bonds as they are tax free, but on the whole they're crap.

 

My mate said he's got £500 worth and has won £25 6 times in a year

I'd expect him to win £25 every 3 years or so.

 

But there is the random element, so some people will earn more than the average and others will earn less.

 

Stick £5,000+ in Halifax and you might win their prize draw I suppose.

Edited February 21, 2012 by opinions4u

[alex_balls]

TBF they used to be a good investment as the prize fund was much better so there was a greater chance of winning, I remember being a kid and looking at Teletext to see if i'd won and there were something like 46 pages of prizes (*may be well over the top with that, but there were a lot) now there are like 8 pages which says everything.

 

I know someone with the full holding in PB's and they only ever win £50's, and never won anything over £100-00 and they've had them donkeys.