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Thread: Premium bonds

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    Premium bonds



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    My grandkids get far too many presents for Christmas so we usually just put money in their bank accounts so they have a nest egg when they are older.

    This year, I was thinking of buying them some premium bonds. My dad does quite well out of premium bonds, but he has a lot (maximum permissible which obviously I won't be buying that many for the grandkids!). I have read mixed reviews on returns.

    I appreciate that the chances of them winning a big prize are pretty much non existent, but the odd win of 25 would make their day.

    Any comments, or should I just stick with cash?

    Thanks
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  2. #2

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    Louise has had a small amount for years, and never had a penny. But that's how it works I suppose...

    I'd do cash
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    We both have the maximum bonds, the last 12 months has given us 2% return. Can be disappointing when you check that months draw and you don't get a penny but it's great fun when, like last month, we won 350.
    Most reviews on Bonds show a poor return but I reckon it is by far a better return than doing the Lotto, unless you win a jackpot.
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    We get a steady 25 trickle from ours, with the occasional bigger one. The biggest benefit of them as a gift, rather than cash, is the young uns can't rush out and spend them on the latest game.
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  5. #5
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    Quote Originally Posted by Edina View Post
    We get a steady 25 trickle from ours, with the occasional bigger one. The biggest benefit of them as a gift, rather than cash, is the young uns can't rush out and spend them on the latest game.
    I agree Chris, we put the cash in accounts which they can't touch until they are 18.

    With interest rates as they are, I thought that it might be worth investing in bonds for them. Trouble is, I would hate it if one of them won a half decent prize and the others didn't which could cause some resentment. But that's the nature of the game I suppose.

    I don't think I can buy a block in joint names for all of them? (I have 3 grandkids and another on the way).
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  6. #6
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    I only have a few single 1 ones from when I was a kid and haven't won for years now. I think its better than giving them cash though Rob as they still have face value if they don't win. Maybe if you look at it as an investment its not a good deal (unless you win a lot) but if you look at it as a gamble then its a safe bet.

    I looked at doing the same thing a few years back but you couldn't buy less than 100 at the time, I was looking for over 20 kids and grandkids so it wasn't an option ha ha
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  7. #7
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    Quote Originally Posted by Nabsim View Post
    I only have a few single 1 ones from when I was a kid and haven't won for years now. I think its better than giving them cash though Rob as they still have face value if they don't win. Maybe if you look at it as an investment its not a good deal (unless you win a lot) but if you look at it as a gamble then its a safe bet.

    I looked at doing the same thing a few years back but you couldn't buy less than 100 at the time, I was looking for over 20 kids and grandkids so it wasn't an option ha ha
    Funny you should say that Neil, but I'm sure that I had some when I was an ankle biter.

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    Quote Originally Posted by Robmac View Post
    Funny you should say that Neil, but I'm sure that I had some when I was an ankle biter.
    Get in touch with them Rob and give name and previous address's and they will come back with whatever you hold. Dont think mine amount to a tenner all in but you can't win if you aren't in
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  9. #9

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    Premium Bonds are a little bit of fun,

    your in with a chance every month and it is something to look forward to

    and there is no risk and no tax implications.
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    Well, think it is safe to say Premium Bonds aren't an investment but as a way to potentially win a nice surprise AND not lose your stake I think they are good.
    I happened to check my history on them a couple of days ago and I've actually won 9 times this year, which isn't bad but for a couple of years I didn't win at all
    (If you update your account to an on-line one, you can check everything and buy and sell bonds very easily).
    I've just bought a whole new load last weekend so fingers crossed for 2019
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