quickcluck Posted November 12, 2015 Share Posted November 12, 2015 Hi guys, I've had an ISA mature, and now I am wondering what to do as the interest rates are pants at the moment Someone suggested Premium bonds as there is no risk of losing money, and obviously there is the hope of a small payout every now and then... Any one got any thoughts on what I should be thinking about? Thanks K Quote Link to comment Share on other sites More sharing options...
Chucky Mama Posted November 12, 2015 Share Posted November 12, 2015 I have some.. I buy a few each month instead of doing the lottery. Not sure if it makes good financial sense but it is safe. My kids have £100 each that they were bought as Christening presents and they have each won £50 once or twice. Quote Link to comment Share on other sites More sharing options...
Luvachicken Posted November 12, 2015 Share Posted November 12, 2015 The best win we had was a while ago and we won 5 separate envelopes on the same day. It was so long ago that it was when the prizes were £50 so we won £250 Mind you, a couple of days ago I won £25 and the following day I won another £25 Most times we don't win much at all but the money is safe and can't be dipped in to like in the bank. You can also have the winnings put straight back into the premium bonds. Quote Link to comment Share on other sites More sharing options...
Guest Posted November 12, 2015 Share Posted November 12, 2015 I have LOTS of Premium bonds so my chances are high of a win. I generally win £25-£75 a month, I once won £500 which was lovely. My daughter only has a couple of thousands in pounds and has only won £200 in all the years she has had them. I look at it as a lottery ticket where I can get the ticket price refunded if I want to. There are no guarantees but as you say interest rates are just pitiful. Quote Link to comment Share on other sites More sharing options...
Charlottechicken Posted November 12, 2015 Share Posted November 12, 2015 I have £100 worth, bought about 15 years ago. I won the smallest prize within six months (pretty sure it was only £25) then nothing...until I notified them of a change of address and a £25 prize dropped through the door Not sure I would invest thousands though Quote Link to comment Share on other sites More sharing options...
soapdragon Posted November 12, 2015 Share Posted November 12, 2015 I have £500 bought about 7/8 years ago. So far I have won 3 lots of £25 which, as hubs pointed out, is probably about the interest that would have been payable. However, as others have said, its risk free and you may be in for a nice surprise at some stage! Seems like a good move in the current economic climate Quote Link to comment Share on other sites More sharing options...
mullethunter Posted November 12, 2015 Share Posted November 12, 2015 My mum has a lot because she was told that on average the return us at least as good as most savings accounts at the moment. I think she's doing ok Quote Link to comment Share on other sites More sharing options...
Janepie33 Posted November 12, 2015 Share Posted November 12, 2015 OH has several premium bonds and has won around 22 times over the last 10 years, nothing huge, just £25 or £50. I have a few too and have won twice! Thinking of getting a few more as there is always a chance. Quote Link to comment Share on other sites More sharing options...
merlina Posted November 13, 2015 Share Posted November 13, 2015 our family had/has a few - they were popular christening gifts back in the day. In 50+ years of owning them, I've never won. My mother won once - £25. Which, at the time, was the price of a Kenwood Chef, which is what she bought with it Quote Link to comment Share on other sites More sharing options...
Olly Posted November 13, 2015 Share Posted November 13, 2015 Take a look on Moneysavingexpert.com - Martin Lewis sets out the real rate of return and why he doesn't think they are a good investment. However, I have some because I like the idea that one day, we could all be milliomaires, Rodney ... I reckon I win about £50-75 each year in £25 prizes, which I reinvest. The PB money is my 'hip replacement' fund as I once told a friend! If I needed to I could cash it in with no risk and no penalties. Quote Link to comment Share on other sites More sharing options...
chickencam Posted November 13, 2015 Share Posted November 13, 2015 We have invested a couple of modest legacies in premium bonds. We have one lot and the children have the other. One batch gets £25 most months. We also won £500 back in 2007 and of course we bought an Eglu Quote Link to comment Share on other sites More sharing options...
Cinnamon Posted November 14, 2015 Share Posted November 14, 2015 Had mine since birth - never won a thing Quote Link to comment Share on other sites More sharing options...
Daphne Posted November 15, 2015 Share Posted November 15, 2015 One of the £1m winners this month was a female, in East Sussex, who bought her bonds in 2002. Tick, tick, tick Obviously that wasn't me but we do win several times a year - mostly just £25 though. I use it as treat money Its a bit of fun, interest rates are so low, why not? Quote Link to comment Share on other sites More sharing options...
Cinnamon Posted November 15, 2015 Share Posted November 15, 2015 (edited) Just wondering, how many do people who say they have them actually have? They are £100 each aren't they? Thinking of buying some more possibly, as they might give a better return than my ISA! EDIT: Just looked into this & the return on £1000 worth of Bonds is a bit less than the interest on my ISA. My ISA won't ever award me a million though, so its still tempting! Edited November 15, 2015 by Guest Quote Link to comment Share on other sites More sharing options...
soapdragon Posted November 15, 2015 Share Posted November 15, 2015 I don't think that they are as much as that, S! As far as I can remember mine were about £20 each but maybe my memory fails me (wouldn't be the first time recently ) Quote Link to comment Share on other sites More sharing options...
Ain't Nobody Here Posted November 15, 2015 Share Posted November 15, 2015 I had £50 as a child and eventually won £25 in my teens. I bought a second hand piano with it! I invested a few thousand in PBs some years ago but rarely won anything, apart from £500 once, which was great. Cashed them in a few years ago. Quote Link to comment Share on other sites More sharing options...
Olly Posted November 15, 2015 Share Posted November 15, 2015 You can only buy them in £100 units now, Soapdragon. I think you can buy a smaller amount if you do it by regular monthly instalments. I looked into buying some as a christening present and decided that was a bit higher than my budget! I still have two £1 one's given to me by my grandfather. I had never seen a certificate for them, but they matched them up to my account when I registered some years ago. Quote Link to comment Share on other sites More sharing options...
soapdragon Posted November 15, 2015 Share Posted November 15, 2015 You can only buy them in £100 units now, Soapdragon. I think you can buy a smaller amount if you do it by regular monthly instalments. Quote Link to comment Share on other sites More sharing options...
quickcluck Posted November 15, 2015 Author Share Posted November 15, 2015 Welllllll I found a new isa in the end, with Coventry at 2.4% so I went with that! Quote Link to comment Share on other sites More sharing options...
soapdragon Posted November 15, 2015 Share Posted November 15, 2015 Wow, thats a great rate.......sadly I am only getting about 1.4% from NS&I so perhaps a quick look round is in order!!! Quote Link to comment Share on other sites More sharing options...
quickcluck Posted November 15, 2015 Author Share Posted November 15, 2015 Martin Lewis as recommended was great! Quote Link to comment Share on other sites More sharing options...
Cinnamon Posted November 20, 2015 Share Posted November 20, 2015 Welllllll I found a new isa in the end, with Coventry at 2.4% so I went with that! Thanks for that - just opened one myself Quote Link to comment Share on other sites More sharing options...
quickcluck Posted November 20, 2015 Author Share Posted November 20, 2015 Quote Link to comment Share on other sites More sharing options...
soapdragon Posted November 20, 2015 Share Posted November 20, 2015 Welllllll I found a new isa in the end, with Coventry at 2.4% so I went with that! Thanks for that - just opened one myself Is there a Coventry in HoT then, S? If so I'll be down there double quick Quote Link to comment Share on other sites More sharing options...
quickcluck Posted November 20, 2015 Author Share Posted November 20, 2015 You can do it all online! Even transfer in the funds Quote Link to comment Share on other sites More sharing options...
