Premium Bonds

[nelliegemini]

Aren't you informed automatically if you win? I may yet be worth knowing, I've never checked mine!

They just send you a cheque, (or if it's the 'biggy' they turn up on the doorstep - allegedly). You can check online on the NS&I site but you need your membership number which is one number that covers all your bonds.

One thing that worked twice for me (surely a coincidence) was writing to them and saying something on the lines of:

'I've had my bonds for years now and never won a thing, could you please be a dear and check you have the correct address'.

As I said, I've done it twice, once for OH and once for me and both times got £50 the next month. And that was back when we only had a couple of hundred in bonds.

[Polly Fouracre]

Am even as I type, searching for my bonds (this may take a while!) and will check them.

[greenfingers007]

I have had some since 1972 when i was born (only £2 worth) not had a been last year and the year before I invested soem more money into it and still not had a sausage, However Myd Dad invested in some about 4 years ago and has had a steady income from it I think he has won about 15-20 times all £50, gutted, not that I'm bitter or anything.

[bobleponge]

A few years ago whilst married to the second Mrs Leponge, she received a phone call one evening to say that she had come into some money after the death of an extremely distant relative. It was a decent sum, and so after paying debts and buying a newer car, she still had enough left to buy the full limit of premium bonds at the time.
For the remaining 2 years we were together, she never failed to win at least £50 per month. It is logical that the more you have, the more chances you have to win, and that certainly proved it to me.
We did the lottery a few times and the odds appeared to be far more ridiculous, so stopped in favour of the PB's.

[Capsid]

£50 per month is £600 per year. For a £30k investment (the max allowable on PBs) that's 2% interest. For a 6% rate that are currently available in a high rate account that would be £1800 per year. Three times as much guaranteed.

[di]

£50 per month is £600 per year. For a £30k investment (the max allowable on PBs) that's 2% interest. For a 6% rate that are currently available in a high rate account that would be £1800 per year. Three times as much guaranteed.

...but where's the excitement???

[nelliegemini]

...but where's the excitement???

And you don't necessarily need £30k in - I certainly don't have anywhere near that amount.

[Capsid]

...but where's the excitement???

Getting £1800 for sure instead of £600 or perhaps even nothing.

[smallblueplanet]

Getting £1800 for sure instead of £600 or perhaps even nothing.

Most people on here aren't talking about investing £30k in PBs, even so what if you got £1million that would make your savings return look ordinary!

I think you'd better go grab your 6% savings rate cos after yesterday's rate cut it won't be arround much longer, I bet!

[SarzWix]

I was led to believe by my Grandad that he had bought PB's for us girls when we were born, but when he died Ma found no trace of paperwork for them. Now she's passed on too, dunno if we'll ever be able to find out if/where etc.

[smallblueplanet]

National Savings & Investments - Tracing Service

Here's a service on the PBs (NS&I) website -

Here we explain how customers can ask us to trace any savings or investments they think they may have with us. The service can also be used to track down funds of deceased relatives or clients, provided you are legally empowered to act for that person - for example, under Power of Attorney. Follow the links below for a summary of our Tracing Service, or for full details you can download a brochure. To use the service, just download and complete the form then return it to us.

[jackie j]

Just checked mine my sisters and two of my sons with no luck.

[terrier]

Getting £1800 for sure instead of £600 or perhaps even nothing.

Don't forget money in the bank earning interest is taxable whilst your winnings on PBs are tax free.

[Capsid]

Don't forget money in the bank earning interest is taxable whilst your winnings on PBs are tax free.

At 40% tax rate the odds are still better for a savings account.

Also, the cash prizes available to win changes depending on the interest rate applied to the total fund. So the odds of winning are not constant either.

[smallblueplanet]

Look at Premium Bonds with a clinical financial eye and they’re only worth considering as a serious place to put savings, if you’re a higher rate taxpayer, who has used up your Cash ISA allocation.

Yet for those who like a flutter, as Premium Bonds do protect your cash, it's fine to put a non-significant portion of your money in them, more for fun than returns. However before deciding, use the calculator to look at the real odds; and if you’re willing to take the gamble after that – then it’s fine.

Premium Bonds: Are they worth it?...