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Thread: Premium Bonds

  1. #1

    Default Premium Bonds

    Looking for some opinions please folks.

    I have around 15,000 sitting in an account with RBS which is paying around 1% gross interest which is quite poor. I have full ISA allowance paid for year as well.

    I have 1,000 sitting in premium bonds at moment and last won 50 a couple of years ago.

    I am wondering whether to invest the 15,000 for say a year, my view is at moment I will get around 120 in interest by RBS which is rather pathetic and I am viewing it that I would just need to win same to be in same position but could have the chance of a bigger prize.

    When my brother was 17 he won 50...same day his mate won 50k!

    Would appreciate any comments.

    Regards

    Ally
    Last edited by alymac; 28th June 2010 at 20:54.

  2. #2
    Join Date
    Apr 2007
    Posts
    15,317

    Default

    You might win nothing.... you might indeed win a biggy... ultimately at worst you lose 120 interest.

    Personally I'd be looking to do something more interesting (but definately more risky)... I'd invest a few in BP shares but not yet.

    If you don't want to exposed this money to any risk then premium bonds is probably the way to go as you have used your ISA allowance.
    Those who think they know it all are very annoying to those of us who actually do.

  3. #3
    Join Date
    Jul 2008
    Location
    South Wales
    Posts
    662

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    i would say go for it, for the interest you won't get (120) its worth the risk whilst not putting any of your original investment at risk ifyswim. I have my student loan in premium bonds, its best to invest it as a lump sum rather than dribs and drabs improves your odds apparently!!

  4. #4

    Default

    I think it's a fab idea especially if you buy in 5k bonds (3 x 5k is a great small risk investment) as they do seem to be the big winners http://www.nsandi.com/products/pb/winnerlist

  5. #5
    Join Date
    Apr 2007
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    Does 3 x 5000 actually give a better chance than 1 x 15k tho? Surely it shouldn't do? I would guess there are loads more 5k investors than 15k investors so they would show as the main winners iyswim?
    Those who think they know it all are very annoying to those of us who actually do.

  6. #6
    Join Date
    Apr 2007
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    I like the 118 holder from South Yorkshire who won 50k!
    Those who think they know it all are very annoying to those of us who actually do.

  7. #7

    Default

    Maybe aly could be our guineapig & buy 1 x 5k, 5 x 1k & loads of 100's be fun to monitor it monthly. If I had 15k spare I'd happily oblige

  8. #8
    Join Date
    Feb 2007
    Location
    Peterhead
    Posts
    2,292

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    If you do buy, tell them you want to re-invest any winnings, so you don't just dribble away the prizes/interest.

    And for those of you who don't do maths ....... having the bonds in one continuous block is immaterial. Having 500 in one block has
    exactly the same odds of winning as 5 x 100. If you don't believe this, then using your logic, you should choose six sequential numbers
    as your lottery numbers, because they stand a better chance of coming up

  9. #9

    Default

    I invest 200 per month into premium bonds. My take is that while interest rates are sooooooooooo bad, I may as well try my luck.

    No biggie yet tho'

  10. #10
    Join Date
    Jul 2007
    Location
    West Yorkshire
    Posts
    4,843

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    Remember the 50 win has been reduced to 25.

    Both of us have invested quite a bit in premium bonds - we have a win 25 most months - as you say interest is rubbish at the banks at the moment - with premium bonds you can draw the money out immediately if you need it but we feel as though it is safe there - we took some out of the banks when they were a bit iffy just in case they went under and we lost the money

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