Premium Bonds .. revolt!

[The Londoner]

Yay, I got £50 today!

[cjs]

Scrumper said:

V8mate said:

The return on the investments is now set at 1%; you can get more than that on a cash ISA.

Sorry for the slight pedantry. The 1% is actually the rate used to calculate the size of the prize pool, not the return.

This is good: http://www.everyinvestor.co.uk/personal-finance/sa...

That article was published in Feb 08, hardly relevant at current interest rates.

Current estimated return on PBs is 1.8%, tax free.

[V8mate]

cjs said:

Scrumper said:

V8mate said:

The return on the investments is now set at 1%; you can get more than that on a cash ISA.

Sorry for the slight pedantry. The 1% is actually the rate used to calculate the size of the prize pool, not the return.

This is good: http://www.everyinvestor.co.uk/personal-finance/sa...

That article was published in Feb 08, hardly relevant at current interest rates.

Current estimated return on PBs is 1.8%, tax free.

Not anymore.

Article in OP's post said:

The odds have not improved despite more prizes being available, because NS&I has also reduced its "prize fund rate" - from 1.8pc to 1pc. This is the notional return bondholders would receive on their money if they had "average luck".

[MartG]

Minty UFB said:

My G/Mother invested around £50 in early 1950's and today including all winnings they are now worth around £50. Thats right not one single win ( even though back in the 50's this was quite a lot of money).

I was given some bonds when I was born - 48 years later I still haven't won anything

[fido]

MartG said:

Minty UFB said:

My G/Mother invested around £50 in early 1950's and today including all winnings they are now worth around £50. Thats right not one single win ( even though back in the 50's this was quite a lot of money).

I was given some bonds when I was born - 48 years later I still haven't won anything

Damn statistics.

If we consider each draw to be a Bernoulli process with success p
then the variation of success in relative terms is p / (1-p).

Thus with smaller holdings the variance of the outcome appears to be 'all or nothing'.

Good luck

[Puggit]

Just been down to the Post Office to get the form to cancel our premium bonds - they have run out and are having difficulty getting hold of more!

[Rotten Egg]

Puggit said:

Just been down to the Post Office to get the form to cancel our premium bonds - they have run out and are having difficulty getting hold of more!

You can download it off the NS & I website.

RE

[blindswelledrat]

fido said:

Surely this will finally get the middle classes to revolt?

http://www.telegraph.co.uk/finance/personalfinance...

The million pound prize is no longer, and there is now a pathetic £25 prize to keep your meagre hopes up.

WHy don't you read the articles you link to instead of simply making up a completel load of ste to replace it?

[2fast748]

I won £25 when I was a few months old (36 years ago), my Dad won £50 a few months ago on a bond he and my mum had been bought as a wedding present (40 years ago) and my 7 year old nephew won £50 on the bond my Mum bought him when he was born so as a family we've done alright.

[mrmaggit]

I had £1,000 in for three years, won sweet FA, now have just £100. Lorraines' mum won £5,000 a couple of years back, but she did have the maximum in.