Premium Bonds made simple.
20-10-2006, 12:40 PM
#1
Team HOTHOT!
Thread Starter
Premium Bonds made simple.
My experience of Premium Bonds.
The basics to them are as follows.
You purchase "bonds" (£1 = 1 bond) in multiples of £10 (Minimum purchase £100).
You receive a certificate everytime you purchase more Bonds.
Each Bond has its own serial number - this number is entered into a TOTALLY RANDOM draw at the end of each calendar month with a chance to win many many cash prizes ranging from £5 to £1,000,000
The more bonds you buy, the better your chance of a prize.
The maximum bond value you can own is £30,000
Bonds are a tax free savings scheme, Instead of being paid interest, the interest for the bonds owned by everyone is put into a pot for the montly prizefund - the more people own bonds, the bigger the prize pot
Prize winners are notified by post after each draw. If you win the million, the director comes and visits you personally with a cheque
Your bonds can be cashed in at anytime by filling out the paperwork at the post office, it takes upto 8 working days for your money to be returned via BACS
www.nsandi.com for more information
The basics to them are as follows.
You purchase "bonds" (£1 = 1 bond) in multiples of £10 (Minimum purchase £100).
You receive a certificate everytime you purchase more Bonds.
Each Bond has its own serial number - this number is entered into a TOTALLY RANDOM draw at the end of each calendar month with a chance to win many many cash prizes ranging from £5 to £1,000,000
The more bonds you buy, the better your chance of a prize.
The maximum bond value you can own is £30,000
Bonds are a tax free savings scheme, Instead of being paid interest, the interest for the bonds owned by everyone is put into a pot for the montly prizefund - the more people own bonds, the bigger the prize pot
Prize winners are notified by post after each draw. If you win the million, the director comes and visits you personally with a cheque
Your bonds can be cashed in at anytime by filling out the paperwork at the post office, it takes upto 8 working days for your money to be returned via BACS
www.nsandi.com for more information
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20-10-2006, 01:41 PM
#10
Testing the future
as far as i understand it, there are approxiamtely 30 billion £1 bonds issued
also, i thought that the bond is only ever worth a pound, even after 30 years (like some of mine from childhood when a pound was a lot of money). so unless you do win regualrly, you can lose out as you are losing at the rate of inflation
also, i thought that the bond is only ever worth a pound, even after 30 years (like some of mine from childhood when a pound was a lot of money). so unless you do win regualrly, you can lose out as you are losing at the rate of inflation
20-10-2006, 06:28 PM
#11
I have some of these 
My parents have a lot
Dad's kept an eye on it, and reckons with the winnings he gets each year, his 'interest rate' so to speak is about 3%. Not good at all.
Mum's investment nets her 6% which is better.
The big reasons for doing this are:
TAX FREE
YOU MIGHT WIN A MILLION (or even just a few hundred 000s!)
YOU WILL NEVER LOSE MONEY (so not like the lottery where once the draw is done your money is gone)
When I get the odd £50 here and there I look at it as a bonus, and promptly go out and waste it on someit for the Cossie
Si
My parents have a lot
Dad's kept an eye on it, and reckons with the winnings he gets each year, his 'interest rate' so to speak is about 3%. Not good at all.
Mum's investment nets her 6% which is better.
The big reasons for doing this are:
TAX FREE
YOU MIGHT WIN A MILLION (or even just a few hundred 000s!)
YOU WILL NEVER LOSE MONEY (so not like the lottery where once the draw is done your money is gone)
When I get the odd £50 here and there I look at it as a bonus, and promptly go out and waste it on someit for the Cossie
Si
20-10-2006, 07:52 PM
#14
PassionFord Post Whore!!
Originally Posted by foreigneRS
as far as i understand it, there are approxiamtely 30 billion £1 bonds issued
also, i thought that the bond is only ever worth a pound, even after 30 years (like some of mine from childhood when a pound was a lot of money). so unless you do win regualrly, you can lose out as you are losing at the rate of inflation
also, i thought that the bond is only ever worth a pound, even after 30 years (like some of mine from childhood when a pound was a lot of money). so unless you do win regualrly, you can lose out as you are losing at the rate of inflation
So if you were to put £30k in for 30 years, unless you get some payouts (its a lottery at the end of the day) then your moneys better off in a high interest account.
But youve gotta be in it to win it, and a cheque through the door every couple of month for the weekends beer is better than a bank statement saying +7p -4p every month
23-10-2006, 07:44 AM
#16
Testing the future
Originally Posted by PF NICK
I've had mine for 25 years, I won for the first time last year.
Was only £50 but it was still free money
Was only £50 but it was still free money
that's what i'm getting at. i've had some for 30 years and never won a penny, so now the actual value of them is a fraction of what they cost. so little in real terms that it's not worth cashing them in. so then you leave them and hope that one day they might win you something. some do, some don't as the above example from SiB shows you.
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