I'm a 'Winner'

[Buffoon]

My ex-builder told me that he knew of someone who maxed out his PB allowance by having £100K worth. He regularly gets a good return on his winnings......apparently.

If you had loads of them then, statistically speaking, you would have an expected rate of return of 3.55% dropping to 3.4% on the 1st Jan. National Savings Website

The max holding is only £30, 000 by the way.

[Denny]

If you had loads of them then, statistically speaking, you would have an expected rate of return of 3.55% dropping to 3.4% on the 1st Jan. National Savings Website

The max holding is only £30, 000 by the way.

Perhaps I got the figure wrong then, but he maxed it out anyway. That bit was correct.

[SallyAnne]

Heavy night on the pop again SA?

Why? Was I being dense again? Its too hard to concentrate with all this merriment going on
The sherry is open and Xmas fumes are getting to me!

[Bagpuss]

They are an Ok investment for a higher rate tax payer, with an element of excitement.

[MrsGoof]

reserect an old thread

hello old thread

[RandyW]

'Invested' £6k in Premium Bonds in Sept 2005. I have just received my first winners letter - I have won £50.

Does not fill me with a warm and fuzzy feeling. Am I luckless or a stupid investor ?

Both.

[MrRobin]

Premium bonds are OK if you don't expect a guaranteed return but enjoy the [very remote] possibilty of winning big without any risk to your investment.

I had £10k in PBs for a while and thought it was a good option since I knew I was going to need the cash at some point in the near future and didn't want it tied up in a notice account. Ended up with £350 in winnings over about 10 months. Worked out pretty similar to sticking the cash into an instant savings account except you don't have to pay interest on winnings.

Denny, your builder is talking crap since the maximum bonds you can have is 30,000

[MrRobin]

hello old thread

Oh yeah, I've only just noticed the dates...... hmm!

[xoggoth]

All of these National Savings crap things are not really tax free because stinking Brownstuff reduced the rate to claw some of it back.

[MrRobin]

All of these National Savings carp things are not really tax free because stinking Brownstuff reduced the rate to claw some of it back.

This is true. The total prize fund for a month is one twelth of the rate specified on the site - currently 4%. A quick bit of maths using the estimated prize fund of £112.5M in March 08 suggests there are about 35 billion bonds in issue.