Premium Bonds

[welsh dragon]

I bought a lump sum of PB’s earlier in the year, basically my year’s pension withdrawal. I chose PB’s because they are safe and I can easily cash some of them in as needed. Plus they have the extra fun of a potential big win. Hasn’t happened so far, just two £25 wins, but that’s ok, mainly I just need them to be safe and available.

That's why I bought some as they are safe and there is always the possibility of getting something each month which is better than nothing at the moment.

 

[cougie uk]

An elderly relative of mine has a couple of tens of thousands in their bank current account.

I'm thinking that it might be an idea to get them to put at least half of that into PBs.

I'm just very wary of these banking scam phone calls that so many people have fallen for. It'd be awful to lose so much for one mistake ?

PBs seem a safe place as any ?

 

[SpokeyDokey]

I'm starting to put money in monthly......how many premium bonds have people got and are you finding them worth it??

TIA

We use PB's as easy access money ilo of keeping it in a current a/c.

We have held money in PB's for 8 months now and based on what we have won so far (pitiful) we project 0.375% interest pa by the end of our first year.

Definitely better than a current a/c but a really long way below our Cash ISA's, Fixed Rate Bonds, Stock & Shares ISA's and SIPPS.

If you do not need easy access to the money then there are better places to invest it in.

 

[jowwy]

We use PB's as easy access money ilo of keeping it in a current a/c.

We have held money in PB's for 8 months now and based on what we have won so far (pitiful) we project 0.375% interest pa by the end of our first year.

Definitely better than a current a/c but a really long way below our Cash ISA's, Fixed Rate Bonds, Stock & Shares ISA's and SIPPS.

If you do not need easy access to the money then there are better places to invest it in.

I would like to keep easy access to it, just in case…..cheers spokey

 

[presta]

There's a premium bond calculator here:
Premium Bond Probability Calculator. Unique tool predicts what you'll win plus NEW 'luck test' (moneysavingexpert.com)

 

[Saluki]

I have PBs. I won £25 not last November but the one before. Nothing since. Some months I add to the pot, some months not. It depends really.
I live in hope though.

 

[roley poley]

had nowt for years but this month won £100 ..4x£25 so a new chainring for the brommie as a treat to the gods of luck

 

[biggs682]

We have some , not a lot else out there savings wise but bonds are safe and hopefully a win or two along the way

 

[PaulSB]

Over the decades we've held widely varying numbers. The biggest prize we've won was £500 perhaps 30 years ago. We still sleep in the bed that paid for.

I use PBs for our cash savings. Being retired we have 80% invested and 20% easy access cash. There's always the chance of a big win.

There have been times when for different reasons we've had large amounts of cash swilling around. At those times we've put it all in PBs. Ocassionally we've held the maximum in two accounts. In my experience with this level we usually won £125/150 per month. Annualised the return was around 1.4% which these days for cash is good.

I'd stress this was only ever on the very rare ocassions when we had things like pension lump sums kicking about awaiting investment etc.

 

[Lozz360]

Definitely better than a current a/c but a really long way below our Cash ISA's, Fixed Rate Bonds, Stock & Shares ISA's and SIPPS.

If you do not need easy access to the money then there are better places to invest it in.

Personally, I don’t have any PB’s, preferring Stocks & Shares ISAs and a SIPP for my investments. Yes, they give a better return, but I can understand why people prefer PB’s as there is no risk to the capital unlike S&S ISAs, etc.

 

[jowwy]

Well just had confirmation that the account is all set-up, so my premium bond journey begins......

 

[PeteXXX]

Last year, I was way above inflation on my PB's. This year, so far, about level with several months to go.
As has been said, if inflation rises too much, I'll move out of them and find somewhere else to invest, maybe my AJ Bell account.

 

[delb0y]

...we project 0.375% interest pa by the end of our first year.

Yep, that's about what I'm experiencing, too. There was talk on the news this evening that interest rates could start to edge up soon, so then there may be better options for easily accessible savings.

 

[Scotchlovingcylist]

I've had premium bonds for around 4 years now with varying amounts of cash when saving for my house or car etc.
I would guesstimate I've won around £300 total over them years however have had nothing the last 8 months or so and from what I gather the odds are less than they used to be.
My girlfriend has had hers alot longer and has around 3 times what I have in mine and seems to win £25 - £100 every few months, jammy bugger.
Its secure and I enjoy the lottery style of it every month wondering if it'll be a big win.
Interest rates in banks aren't worth it to me and I dont know enough about anything else to invest etc and like the money easily accessible.
I like them, that's all I can add

 

[vickster]

The full amount. I’ve never bothered really checking how much I’ve had, but something most months, just goes into current account, most was £75min a month.
As above it‘s somewhere with no risk and accessible to have some savings (as well as instant access savings which really do make bugger all with no chance of more than bugger all)