Hi Ive just started saving money after buying a house , Iwas going to open a savings account but have decided to invest the money in premium bonds , Im well aware that to have a good chance of winning you need to have a fair amount in but am planning to save the full 30.000 over the next 5 years. has any one won on these or is it all a big con ??
2007-02-03 23:03:07 · 17 answers · asked by Mark 4 in Business & Finance ➔ Investing
I have won 5x£50 over last 8 years
2007-02-03 23:09:40 · answer #1 · answered by man with the golden gun 4 · 0⤊ 0⤋
No people do win.
My piano teacher has only invested £2,000 in premium bonds and last year he won £25,000.
However, 3 members of my family have had £20,000 each invested in premium bonds for several years and they certainly haven't won any substantial amounts.
Personally, as a qualified chartered accountant (ACCA) I would not invest in premium bonds myself. The average return compared to other investments is rather low.
At present the best savings account is on www.icesave.co.uk which offers a wopping 5.75% return on a savings account which offers direct access to your money.
However, by far the best long term return is offered by the stock market which has shown a return since the 2nd world war of 11% a year. However, I would avoid the stock market at the present time. It has been rising for over 4 years now and it would be best to wait till it falls again. When it hits rock bottom is the best time to invest in the stock market as you will maximise your returns. The FTSE250 has almost doubled over the last 4 fours.
2007-02-03 23:38:21 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I have won £200 with £1000 worth of bonds over 10 years. I would have done better with a normal savings account.
Capital bonds are worth getting - no gamble just 5% tax free interest and no lmits like ISAs have. But Capital Bonds from National Savings & Investments instead of Premium Bonds (unless you think you are a lucky person!)
2007-02-03 23:13:44 · answer #3 · answered by monkeymanelvis 7 · 0⤊ 0⤋
I have £100 in Premium bonds that i was given as a present about three years ago, I have won £50 twice, which was nice. I don't know if you are more likely to win if you have more money in or not though.
2007-02-03 23:13:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The average return for those who hold premium bonds is just 2-2.5% p.a. - with inflation currently at around 4% p.a, making just a 2% p.a. will mean in real terms over 5 years your investment would be worth 11.4% less than when you started!!! (100% +2% -4%)^5.
Of course you may win the jackpot, but I personally feel the odds are not worth it as the average return is very unattractive.
2007-02-06 22:29:05 · answer #5 · answered by Colin S 2 · 0⤊ 0⤋
I've won quite a few small amounts - the most was £1000 but usually it is £50. I do have several thousand in the pot though. The more bonds you have the more chance you have of winning. None of the old bonds bought for me when I was a baby have ever won though.
2016-05-24 02:31:57 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Well I was given £20 from grandparents about 20years ago that i invested in Prembonds and won £50 in the second month. After that though, nothing.
2007-02-03 23:06:45 · answer #7 · answered by A True Gentleman 5 · 0⤊ 0⤋
I've won about 20 x £50s.
2007-02-03 23:12:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
1
2017-03-01 01:53:48 · answer #9 · answered by Margaret 3 · 0⤊ 0⤋
i had 2,000 in premium bonds for 2 years and got 2 £50 prizes.
2007-02-03 23:09:58 · answer #10 · answered by scarlett400 2 · 0⤊ 0⤋