PhilMcAvitie

Well, Premium Bond rate reduced to a pathetic 1.8%!!!

That's odds of 36,000 to 1 to win any prize .... which was 22,000 to 1!

That means, basically, you need £36,000 invested to win ONE prize a month .... as the max you can invest is £30,000 each that's a high price to pay for the gamble.

But, your money is safe I suppose?

Dedrater

You will make more putting your money into a high interest savings account, mathematically speaking.

Dedrater

This is a good article on it, it was on BBC2 radio a few weeks ago.

Premium Bonds: Are they worth it?...

speedking

Wish I won one prize a year

Link added.

What will happen though if we see deflation? Will there be an annual charge for having premium bonds

Chip

£200 for me this month 4X £50.

ALi-B

iTrader: (1)

Also not tax free....if you have a large estate and you die.

SteveScooby

iTrader: (2)

I've been putting £50 a month in them since January and won £50 twice.

i don't think I've done badly

PhilMcAvitie

I did win £600 in May 2007 .... 1 x £500 + 2 x £50

Mostly £50's 1 maybe 2 a month ...

But, nothing this month

hodgy0_2

i usually win 50 squid a month -- but nothing last month, but £200 in Jan

fingers crossed in December

I thought the changes were comming in Jan

PhilMcAvitie

STOP PRESS 19 Nov 08. It was announced today that the Premium Bond interest rate will drop from 2.85% to 1.8%, for the next prize draw on 1 Dec

imlach

...and the danger with premium bonds is that everytime something drops through your letter box, you think you've "won" so might go off and spend it........leaving you with no "interest".

Matteeboy

A relative bought our baby boy £500 worth of them. I have absolutely NO idea what happens - do you just wait and hope you win something?!
The certificate is in my name on his behalf.

n one

iTrader: (5)

I`ve just bought a large amount of Premium Bonds last week as an alternative to putting it in the bank, I might have thought twice if this news had been out last week. I`ll keep hold of the bonds for a while, yer never know I might win some pocket money

njkmrs

You can check online to see if your bond has won a prize .Have to have had them one full calender month before elegible .Updated on about the 3rd of each month .If you win a check will arrive in first couple of weeks of month.
Good Luck .