Premium Bonds... The Thinking Man's Lottery.....

[PatHeald]

The monthly jackpot is now 2 x £1 million.

The maximum number of bonds you can hold is now £30,000.

Why do the muppets persist in paying idiot's tax?

I am going to stuff £30k in them.

Hell, they can't do much worse than a deposit account...

[princeperch]

hi pat, ive had a grand invested for about a year and ive unfortunatly had bugger all back...

[hustlebabe]

Precisely pat

Plus it is a good way to set aside for tax etc as the money is accessible pdq and you might win a lovely tax free payment

been doing it for years, thanks to my accountant pal

>> Edited by hustlebabe on Wednesday 21st September 20:51

[pesty]

with 30k's worth you may get abtter return than you would in interest on a bank acount. IIRC it used to be in vogue a few years ago.

Ive had Premium bonds since I was born topped up every now and again and Ive won F all in 34 years

Its a conspiracy I tell you.

[mutt k]

I've got £20k in and get a regular succession of £50 cheques. Which is nice. Still waiting for a biggie though. Which would be nicer

[clubsport]

30k is max in one persons name

Return is ok, doesn't work out much better than an internet high interest account,, the difference is the option of a larger "win"

I get some cheques every month,,, the earlier they arrive in the month the larger the ammount on the cheque.

Not as liquid as you might expect, you do get your stake back but when you buy them it can take 6 weeks to get into the first draw.....better to leave them in and use an internet account if you may need the money soonish.

[pulsatingstar]

Dont expect its much in money terms, but weve had some here for as long as I can remember (at leat 10 years) and its never won a thing.

[Bob the Planner]

Its a statistical thing. When I had 20k I got something every month. Now I only have 100, I have won bu$$er all (about what I expect), but used then money to buy the Tuscan. As soon as I get 5k in cash I intend to buy some more (or an engine rebuild).

>> Edited by Bob the Planner on Wednesday 21st September 21:19

[gtr-gaz]

Well, I put money aside for the taxman last year and bought some premium bonds.
Guess what? I won £25,000!!

Made my day I can tell you.

[SS2.]

My folks have had £30k in one block for 2 years this month.

To date, other than one month where they won nothing at all, they have picked up between £50 - £150 per month.

They are well up on where they would have been with the cash in a building society, its low risk and there's always the chance of a biggun..

[pwig]

Because 1 million aint enough

[silversun]

I have had premium bonds for 32 years and have only ever won £50. I must be the unluckiest person in the world.

[speedychrissie]

i am slowly trying to put as much into premium bonds as possible. my dad has quite a lot and gets a cheque almost every month.

and if i dont get a major win in the next 5 years then i will atleast have a reasonable amount stored up in it to pay for a car (or atleast a deposit)

chris

[krusty]

If you want a good crack at the jackpot but do not have the money to invest then there is an easyish way of doing it.
Currently credit card companies are falling over each other to transfer ballances offering 10K at times with maybe 6 months interest free credit. Apply for a card and get the 10K transfered into your account and then go out and buy a block of premium bonds. You effectively have five months 'chance' of getting some money back. Obviously you have to pay the minimum repayment to the credit card company each month and after 5 months either transfer the ballance to a new credit card offering the same deal or sell the bonds and pay the difference off.
You've got to stay on top of it to avoid interest but it can be done.

[shadowninja]

mutt k said:

I've got £20k in and get a regular succession of £50 cheques.

If you did the sums, would it have brought you a better return if it was stuck in a bank account? Mine would have.