Premium Bonds

[Cyrus]

What do you guys think of them? I know the odds are pretty shit even if you put the maximum in allowed, is it worth bothering?

[Sledge]

It all depends on how much you put in. My gran bought me £100 worth on my 18th and I've never looked at them again. (I could be rich).

There are 100's of smaller prizes just like the lottery. If you put the max in (£50k I think) then you would win something every month. The benefit is that it's tax free, chances are it's better than the interest you get in the bank but down side is the money doesn't grow with inflation. So the £100 I had 17 years ago is still £100.

I had a client once who swore by them. He had the max in and used to make a big score some months.

[TheReem]

are these the ones where you are entered in a draw every month ?

[Cyrus]

Yeah, my parents bought £100 worth when I was born (23 years ago) and I checked them for the first time the other day, nothing. The max is £30000 but theres no way I could put that much in. You should check yours Sledge, that 1 million could be sitting there waiting for you.

[Cyrus]

are these the ones where you are entered in a draw every month ?

Yeah man, theres always a 1 £1million prize and then more smaller prizes.

[TheReem]

im no expert but isnt it if you have £100 in bonds its the same as having 100 tickets in the draw each month ?

so the more money you have in the more tickets in the draw you have ?

suppose it is better than the lottery at least you get your £100 back if you dont win

[Hands Of Stone]

Premium blondes is where its at !

http://www.nakedgirlsnude.com/pics/amazing-blonde-fascinating-breasts-4413.jpg


The Hands

[TheReem]

ha ha yeah Blondes sounds much better , got some premium blondes paul ?

[Rob T]

Sledge has it pretty much on the money.

If you already have a decent size investment portfolio and can afford to put the maximum in, it's not a terrible idea. Otherwise there are much better options to invest for sure.

[Gods of War]

With returns on savings being so low, I've had some money put away for the tax bill in premium bonds and had a few £50 back tax free. If you are only talking about small sums of cash it wont hurt to take a gamble and you can choose to have any winnings put straight into your bank account or posted to you as a cheque so you don't have to bother checking them.

[jim2007]

I know next to nothing about Premium Bonds so be gentle!

A few Q's:

Can you take you money out as and when you please or does it have to stay in for a certain period?
What are the risks involved? (i.e would it be possible to lose all your money?)
Is there a main one to use or are there a few (if a few, can anyone recommend one?)

Cheers

[Temeura]

The return is shit to be honest. If you don't need the money for a while, you'd get a much better return just sticking it in a deposit term account.