Scully Posted April 26, 2018 Report Share Posted April 26, 2018 Anyone got a significant number of premium bonds? Have spoken to a couple of people about these after talking to a woman in our local pub who said she'd bought some for her kids. One was my accountant; just to ascertain where I stood from a tax point of view, and the other is a sister of my OH who graduated from the London School of Economics. She worked out some time ago that over a given period with the same amount of money that would otherwise have been in a savings account, the returns from premium bonds were higher than any saving account. She and her husband saved for their mortgage deposit with premium bonds. The money I have isn't mine ( kids inheritance ) and I'm not into taking risks and ISA's aren't worth it, and banks just want what is best for them, not us. Anyone have experience of them? Quote Link to comment Share on other sites More sharing options...
decoyman Posted April 26, 2018 Report Share Posted April 26, 2018 Hi Scully, I had maximum amount for a few years, finished at 40k. have closed now. It was the case that you would return about 3 percent and always the chance of a big return, the average being 9 a year at 25 pounds average payout. I tended to do a little better. Also , once had a 500 pds draw. HOWEVER, Draw choices have been reduced in number and payment totals limited to low interest rates, so not so good nowadays. Also. any repayment, however small after death is subject to probate. Regards, Quote Link to comment Share on other sites More sharing options...
Chris B123 Posted April 26, 2018 Report Share Posted April 26, 2018 I have had £30,000 in bonds for the last 6 years, the most I have had in one month is £100. I usually get £25 a month. Quote Link to comment Share on other sites More sharing options...
blackbird Posted April 26, 2018 Report Share Posted April 26, 2018 Me & the Mrs 30k each win £25 or £50 a few times a year. They have cut the prizes right down give it a go but be realistic. Quote Link to comment Share on other sites More sharing options...
Scully Posted April 26, 2018 Author Report Share Posted April 26, 2018 Thanks all. With my usual unerring gift for timing, it would seem I'm a little late to the party. Quote Link to comment Share on other sites More sharing options...
Ricko Posted April 26, 2018 Report Share Posted April 26, 2018 My grandmother bought me £2 worth in 1971 when I was born. I've never won a thing in 47 years! Might sell them!! Quote Link to comment Share on other sites More sharing options...
Fuddster Posted April 26, 2018 Report Share Posted April 26, 2018 martin lewis has a calculator to compare odd versus investment. https://www.moneysavingexpert.com/savings/premium-bonds-calculator/ pal of mine has sunk 50K in from his retirement lump sum-doesnt make great reading if it accurate. f. Quote Link to comment Share on other sites More sharing options...
stumfelter Posted April 26, 2018 Report Share Posted April 26, 2018 22 minutes ago, Ricko said: My grandmother bought me £2 worth in 1971 when I was born. I've never won a thing in 47 years! Might sell them!! If only you weren't so far away. ?? Quote Link to comment Share on other sites More sharing options...
ph5172 Posted April 26, 2018 Report Share Posted April 26, 2018 (edited) We both had a modest sum invested (no where near the maximum) and would (usually) get £25 a month each and occasionally upto £75. I don't recall winning more than 3x £25 prizes. I worked out if I won at least £250 a year (one win a month ish) I would have at least broken even and not had to tie my cash up for a minimum of a year in an isa (I think it was 2-5 days to move it back into the bank) Edited April 26, 2018 by ph5172 Quote Link to comment Share on other sites More sharing options...
Lord Geordie Posted April 26, 2018 Report Share Posted April 26, 2018 1 hour ago, stumfelter said: If only you weren't so far away. ?? Quote Link to comment Share on other sites More sharing options...
figgy Posted April 26, 2018 Report Share Posted April 26, 2018 I know lots of lads who put their tax money into Premium bonds. Safe and when the tax bill lands they cash in what they have to, to pay the bill. Better chance of getting more than interest from the banks. Quote Link to comment Share on other sites More sharing options...
Wb123 Posted April 26, 2018 Report Share Posted April 26, 2018 (edited) I dont think I do any more, the prize fund is 1.4% but unless you get very lucky and hit a very high value prize the functional prizes to win is a smaller yield. NS&I collect the 1.4% then have to take the 10% for high value prizes off, leaving a functional 1.3% which you should be able to match elsewhere unless you are using up your pretax interest allowances elsewhere. That said I had forgotten about my premium bonds account, i know i took most of my money there out a few years ago when in a tight spot but i think i left something behind. The online password resetting thing doesnt seem to want to work in order to find out though. I also have accounts with nationwide amd hsbc come to think of it that may or may not need emptying and closing. Edited April 26, 2018 by Wb123 Quote Link to comment Share on other sites More sharing options...
McSpredder Posted April 26, 2018 Report Share Posted April 26, 2018 2 hours ago, Ricko said: My grandmother bought me £2 worth in 1971 when I was born. I've never won a thing in 47 years! Might sell them!! Similar story here. Was given my £2 worth when they were first issued in 1956-57, never had a prize. Bought a brand new BSA Cadet the same year for £6-12s, sold it 10 years later for £5, and it gave me a lot more pleasure than those Bonds. Of course, either Ricko or I might win the big prize next month..... Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted April 26, 2018 Report Share Posted April 26, 2018 How old are you? When you say the money you have isn’t yours, it’s your kids inheritance, you may want to consider a family trust or similar as if you require care in your old age the council will expect you to use most of that money until you drop below £23,250 to pay for your care... Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted April 26, 2018 Report Share Posted April 26, 2018 We have had £30k for about 5 years now - normally get £25 -50/month but sometimes £100 - I would say about 10 months of the year we get something. TBH our Solar panels were £5k and they pay back about a £800 a year so, if I could, I would put them on all my neighbours roofs . Quote Link to comment Share on other sites More sharing options...
Munzy Posted April 26, 2018 Report Share Posted April 26, 2018 £140k across myself, wife and kids for 9 months and so far I’ve seen a return of £250 in total. A pathetic return! Quote Link to comment Share on other sites More sharing options...
Harnser Posted April 26, 2018 Report Share Posted April 26, 2018 My wife and I have a large holding of premium bonds and have done reasonably well . What I like about them is you don’t lose your stake money and there is always a chance of winning the big one . Our largest win was £1000 . harnser Quote Link to comment Share on other sites More sharing options...
steve_b_wales Posted April 27, 2018 Report Share Posted April 27, 2018 4 hours ago, Ricko said: My grandmother bought me £2 worth in 1971 when I was born. I've never won a thing in 47 years! Might sell them!! My grandparents bought me £5 worth when I was born in 1957. Never one anything on them. I also bought a few £100 worth over the years,and I'm still waiting for a win,even a small one! Quote Link to comment Share on other sites More sharing options...
ShootingEgg Posted April 27, 2018 Report Share Posted April 27, 2018 7 hours ago, Munzy said: £140k across myself, wife and kids for 9 months and so far I’ve seen a return of £250 in total. A pathetic return! How much return would you get in a 1%(which is a pretty standard rate at the moment) savings account over 9 months.. Probably also a pathetic return. Quote Link to comment Share on other sites More sharing options...
krugerandsmith Posted April 27, 2018 Report Share Posted April 27, 2018 11 hours ago, Scully said: Anyone got a significant number of premium bonds? Have spoken to a couple of people about these after talking to a woman in our local pub who said she'd bought some for her kids. One was my accountant; just to ascertain where I stood from a tax point of view, and the other is a sister of my OH who graduated from the London School of Economics. She worked out some time ago that over a given period with the same amount of money that would otherwise have been in a savings account, the returns from premium bonds were higher than any saving account. She and her husband saved for their mortgage deposit with premium bonds. The money I have isn't mine ( kids inheritance ) and I'm not into taking risks and ISA's aren't worth it, and banks just want what is best for them, not us. Anyone have experience of them? Don't forget that if you inherit some bonds in a Will that have won past prizes and never been claimed these bond to you will only be worth face value you cannot claim the prize money. Quote Link to comment Share on other sites More sharing options...
Blackpowder Posted April 27, 2018 Report Share Posted April 27, 2018 Bought 3 when they came out in the mid 50s and never had a penny from those. £3,000 over the past 10 years usually sees two or three £25 wins over the year. Blackpowder Quote Link to comment Share on other sites More sharing options...
Lord Geordie Posted April 27, 2018 Report Share Posted April 27, 2018 A few year back, while checking the winners! A person who had 1 sole bond, bought in the 50s or 60s "cent remember the exact date" WON the top prize! So it can happen. Quote Link to comment Share on other sites More sharing options...
blackbird Posted April 27, 2018 Report Share Posted April 27, 2018 (edited) . Edited April 27, 2018 by blackbird Quote Link to comment Share on other sites More sharing options...
blackbird Posted April 27, 2018 Report Share Posted April 27, 2018 (edited) 10 hours ago, Lloyd90 said: How old are you? When you say the money you have isn’t yours, it’s your kids inheritance, you may want to consider a family trust or similar as if you require care in your old age the council will expect you to use most of that money until you drop below £23,250 to pay for your care... +1 surely your account would be the best advice as Lloyd90 commented we all got get our money in order as we get older or the government will expect you to use it to fund your care, that’s my argument you have one person in a nursing home who has saved all there lives bought a home & they have to use there own money sell the house & in the next bed somebody who has never looked after themselves blown all the cash & the tax payers pay. Who is the dullest one? Edited April 27, 2018 by blackbird Quote Link to comment Share on other sites More sharing options...
Scully Posted April 27, 2018 Author Report Share Posted April 27, 2018 Thanks for the advice all. ? Quote Link to comment Share on other sites More sharing options...
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