Premium Bonds?

[SMcP114]

Ok, need a bit of info on this.

I was left some premium bonds by a relative some years ago, but i'm not really getting any sort of return on them, and am missing out on the interest that I could be making. So is there any way I can just cash them all in? And if so, how, where etc?

I really don't know the first thing about them, other than I win £50 every once-in-a-while.

[yorky500]

Go to the Premium Bonds website and you can download the form from there OR go to your nearest Post office and collect the form from them.

Job done - simple.

[SMcP114]

That'll do me, cheers

[Corpulent Tosser]

Is the 50 pounds every so often much less than the interest you would get if the money was in a decent savings account ?

I have a friend who has a considereable amount of premium bonds and he seems to do very well with them, in that basis I recently bought my granddaughter 500 pounds worth, no return yet but I am sure there will be some.

I don't have any but am considering buying a thousand pounds worth, Ok you lose interest but there is a chance of a substantial win, and the capital is always there unlike the lottery for example.

Edited by Corpulent Tosser on Tuesday 12th August 09:42

[SMcP114]

Ok my statement about missing out on the interest was just me trying to sound like I had some sort of financial knowledge.

In reality, I need the money for a hybrid turbo, Brembo's, and the entry fee to the Ulster rally

[Luca1973]

I've got £10k's worth and to be honest, don't think they're really worth it. Win £50 about every 3 or 4 months. Woopee.

[shadowninja]

Luca1973 said:

I've got £10k's worth and to be honest, don't think they're really worth it. Win £50 about every 3 or 4 months. Woopee.

You lucky, lucky bd. I got £15k and get £50 every 6 months!

[scotal]

SMcP114 said:

Ok my statement about missing out on the interest was just me trying to sound like I had some sort of financial knowledge.

In reality, I need the money for a hybrid turbo, Brembo's, and the entry fee to the Ulster rally

All the IFA's suck their teeth and look disapprovingly at you....
All the Petrolheaded IFA's nod and see that as a good reason.

[andy400]

I used to have the full amount of bonds, which with 'average luck' should mean one prize of £50 or more per month.

I got two £50 prizes in fourteen months.

Andy400 =

[Chris_H]

There's a premium bond calculator here.

I had £30K's worth until last week which I bought in 2002. I did win £10K last June, but apart from that about £50 or £100 per month. I sold £10K last week and paid off my mortgage yesterday which seemed a better use of the money.

[Shar2]

I must be really lucky then as I'm averaging £50 a month over the last two years. It doesn't sound much but every little helps and equivalent interest is about 4.5%. My Dad is even luckier, he seems to be averaging around £150 a month.

[shadowninja]

Chris_H said:

There's a premium bond calculator here.

Well, that's bullst. I should have won a hell of a lot. I'm averaging about £100 a year at the moment with £15k. "Virtual certainty of winning £50 a month." Or did they mean a year? If a year, then fair enough!!

Edited by shadowninja on Tuesday 12th August 10:49

[elster]

Chris_H said:

There's a premium bond calculator here.

I had £30K's worth until last week which I bought in 2002. I did win £10K last June, but apart from that about £50 or £100 per month. I sold £10K last week and paid off my mortgage yesterday which seemed a better use of the money.

[SMcP114]

£50 a month?! £50 every six months if i'm particularly lucky! That's it, i'm cashing them in. The lure of more boost outweighs the novelty of a 50 quid cheque twice a year..

[SimonV8ster]

I bought a hundred pounds worth and won 50 quid within a few months !! 50% profit !!

Beat that !!

I still have a hundred pounds worth and have had for some time

[jollygreen]

We've got £60k between the wife and I and we have done OK with them. Probably about £8k of winnings in 2 years.

[minimax]

scotal said:

SMcP114 said:

Ok my statement about missing out on the interest was just me trying to sound like I had some sort of financial knowledge.

In reality, I need the money for a hybrid turbo, Brembo's, and the entry fee to the Ulster rally

All the IFA's suck their teeth and look disapprovingly at you....
All the Petrolheaded IFA's nod and see that as a good reason.

[cjs]

The average return is only 3-4% tax free. They are not a very good investment however there is a very, very small chance of winning the jackpot...very small! You would get a better return in a good Cash ISA.