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Thread: Premium Bonds

  1. #1

    Default Premium Bonds

    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?
    An unintuitive consequence of conditional probability.

  2. #2

    Default

    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.

  3. #3

    Default

    are these the ones where you are entered in a draw every month ?
    Joey Essex is my hero, he's Reem.

  4. #4

    Default

    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.
    An unintuitive consequence of conditional probability.

  5. #5

    Default

    Quote Originally Posted by TheReem View Post
    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.
    An unintuitive consequence of conditional probability.

  6. #6

    Default

    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
    Joey Essex is my hero, he's Reem.

  7. #7
    **NSFW**
    Paul Jenkins
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    Default

    Premium blondes is where its at !




    The Hands
    "Try masturbating during a thunderstorm. Seriously. It makes you feel like Thor."

    Here Come Da Pain......

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  8. #8

    Default

    ha ha yeah Blondes sounds much better , got some premium blondes paul ?
    Joey Essex is my hero, he's Reem.

  9. #9
    Senior Member Rob T's Avatar
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    Default

    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.
    http://www.ChrisReesAcademy.com - http://thetattooedchimp.blogspot.co.uk/

  10. #10

    Default

    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.

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