^OPM^

I know im thinking about cashing in my holdings. But way i have looked at it so far is i dont miss the money i have in them but then again it would on average earn more in my bank account.

SunnySideUp

Yeah, I've been thinking of pulling my money ...... but, I have just received my Iceland money and don't know where to put that! I don't want to add another chunk to that looking for a home, but it's crap news!

Reffro

So they've actually started taking money from the depositors then. You cannot cut prizes by 2000%...........

20 down to 1 is a 95% cut

CooperS

Haha how crazy is this then, I got £200 of bonds as a birthday present when I was 18 (12 years ago) and this month is the first month I've ever won anything! (was only £50 tho but still welcome!)

Dieseldog

s'alright. So far this year I'm showing a 3.26% return, with Decembers draw to come. Not brilliant, but as a 40% tax payer, I could only effectively look to getting 4-4.5% in a bank, and there'd be no chance of winning a big one...

"3.26%". Yes, I do realise I need to get out more...

Matteeboy

Quick advice from the SN collective - our baby boy was bought £500 worth of them from a relative - should we get shot of them?

Matteeboy

Nat - that's being "processed" (think it's £250 unless you are pretty skint, then it's more) and will go into a trust fund.

Maybe I'll move the premium bonds to that? They are in my name.

Dieseldog

Compounded up, at an average of 4%/year, by the time he's 18 he'll have a grand in the bank. Sounds a decent amount, but in 18 years time, it won't be. Left in premium bonds he'll probably have less, but there's a very slim chance he'll have more.

Consider your relatives intentions, though. Why did your relative not simply hand over a cheque for £500? I think there's a bit of tradition in buying a baby premium bonds, and you may offend them by cashing them in. If they'd bought a silver spoon or cup (or whatever silver crap you're meant to buy baby's), you wouldn't sell that. When you consider the small amount involved, is it worth it?

Matteeboy

Diesel - very true. And the certificate does look nice too...!

WRX JON

My Dad has got £30k of premium bonds and only just got the intrest he would have earned in his bank each year, He is thinking of cashing them in.

c-o-l-e

I've got one of the old £10 bonds, had it since the 80's, never got anything from it, at the same time it's not worth cashing.

SunnySideUp

I have a couple of £1 bonds ..... from 1958!!

Dracoro

Indeed, it's amazing how many people are innumerate these days, or were we the only ones awake during maths lessons as a kid

little-ginge

one of my relatives has the full amount of premium bonds.. and the amount of times multiple win envelopes have dropped on their door mat is unbelivable!! my few squid worth have never won me anything

tath

What a thoughtful retirement present.

Dracoro

Your "bad" what?

Please don't tell me I can add illiterate to the list

lozgti

Surely if everyone cashes them in its good news for me!

(with my massive £300 invested)

apples24

iTrader: (1)

i had 20k in them for about a year and all i won was 2x £50 so i cashed them in, sadly i spent a great part of the money, wish i left em in there now

njkmrs

Think I read that the number of 25k prizes was 78 last Nov and this Dec it was 2 x 25k prizes .
But you never know you may get lucky .

speedking

No. Because the prize fund is a proportion of the total invested. Your average return will stay the same, but your chance of winning a £1m will increase imperceptibly.

SunnySideUp

I haven't won again this month

I 'was' winning evry month pretty much

If I had somewhere safe to put the money, I would withdraw all my bonds (except 2)