Anybody have premium bonds?

[happier than you]

Seeing as interest rates are now hopeless, i've switched my savings across hoping for the big win.
I know it's unlikely, but my bank is now going to pay 0.01% interest so waste of time having my money there.
For every £1,000, that pays 10p interest a year! You'd need £100,000 savings just to get £10 interest in a year! You get the drift, no point bothering. Even their ISA now pays 0.01%!

Has anybody ever won anything good?

 

[urbanracer]

Seeing as interest rates are now hopeless, i've switched my savings across hoping for the big win.
I know it's unlikely, but my bank is now going to pay 0.01% interest so waste of time having my money there.
For every £1,000, that pays 10p interest a year! You'd need £100,000 savings just to get £10 interest in a year! You get the drift, no point bothering. Even their ISA now pays 0.01%!

Has anybody ever won anything good?

I had a work colleague (he's retired now) who told me that he and his wife each had the maximum holding which at the time was £30k.

He claimed that they used to win £60 to £80 per month which if true, is not a bad return in comparison to the bank.

 

[britishpub]

I think the return on Premium Bonds for someone with "normal" good fortune is meant to be about 0.1% also.

Of course, if you have better than normal luck you could get a much higher return.

 

[urbanracer]

Interesting reading.....

http://www.telegraph.co.uk/investing/bonds/martin-lewis-this-is-why-you-should-dump-premium-bonds/

 

[happier than you]

Martin Lewis obviously doesn't bank with Natwest. Like i said, their saving rate including ISAs is dropping to 0.01%...no, not a misprint not even 0.1% but 0.01%. I've moved £40,000 across to premium bonds because it's easy to do, if i left that in my Natwest savings account in an entire year i would get a whopping £4 interest! So to break even with the premium bonds, i only need to win £25 once in the next 6 years!

 

[urbanracer]

Martin Lewis obviously doesn't bank with Natwest. Like i said, their saving rate including ISAs is dropping to 0.01%...no, not a misprint not even 0.1% but 0.01%. I've moved £40,000 across to premium bonds because it's easy to do, if i left that in my Natwest savings account in an entire year i would get a whopping £4 interest! So to break even with the premium bonds, i only need to win £25 once in the next 6 years!

What's the max holding these days?

 

[happier than you]

What's the max holding these days?

Had to look, didn't even know there was a limit. It's £50,000.

 

[Sable_Jan]

Had four premium bonds since I was 4..... not a sausage in 54 years

 

[happier than you]

Had four premium bonds since I was 4..... not a sausage in 54 years

Lol 4?? Well that's not many...but 54 years is a lot of draws!

My holder number is over 288 million, that's a lot of holdery peeps. How does that even work?? There aren't 288 million people in the UK! I thought you had to be a UK resident to buy em? Maybe not. I dunno.

 

[Sable_Jan]

Lol 4?? Well that's not many...but 54 years is a lot of draws!

My holder number is over 288 million, that's a lot of holdery peeps. How does that even work?? There aren't 288 million people in the UK! I thought you had to be a UK resident to buy em? Maybe not. I dunno.

Guessing lots of original holders will now be deceased......

 

[ellagy]

Had four premium bonds since I was 4..... not a sausage in 54 years

Same here Jan.... since I was 11.

 

[happier than you]

I wonder what happens with stuff like this and gambling/lottery accounts etc if you die? Now everything is done on the internet, there's no record of anything. These companies won't even discuss account details with anybody other than the account holder.

 

[Ktmpedro220]

Lol. Had bonds thirty odd years, nadda! Still hoping!!!

 

[ShyTransCat]

I don't know what they are. I have a kitty though