not2old

As you all may know 'Premium Bonds' have been around since 1956.

With all of the expats that have returned to the UK who may have a few shillings to spare or invest rather than keeping it an ~zero interest savings account or risky investments, what do folks think about buying 'Premium Bonds' instead?

Premium Bonds: are they worth it? - MoneySavingExpert

Premium Bonds | NSandI.com

If you are rich enough, each person could buy up to £50,000 worth.

mikelincs

I have £4 in Premium bonds from the 1950's, and I've never won anything...

not2old

Have you been on-line lately to check if your winnings are waiting for you to pick them up?

Read the details in the link below

Do I have any unclaimed prizes? | NSandI.com

mikelincs

Yes, and unfortunately no wins..

robin1234

I had £30 worth, the earliest from the 1950s, and some from the early 1970s. When I got to England last year, I created an online account, and hey presto, all my bonds were correctly linked there (I'd got a bond holder number back when they first introduced them.) I knew I had a £25 prize unclaimed from two or three years ago - as soon as I registered online with my name & address, they sent me the check in the mail for the prize.

I then invested another hundred pounds in bonds. I was amazed to find out that the minimum purchase is £100! I'm looking at my 1957 vintage £1 bonds...

Snowy560

Someone once told me that the likelihood is that you will receive around the amount you would have received in interest in the bank, but of course there is always the chance of a big win.

I think the above is more or less true: I know a few people who have a lot of premium bonds and win very regularly. On the other hand, if you don't have many, you don't have as many chances.

My thoughts are: it's safer than the bank (if you have more than £75,000 in the bank).

You can buy them if you're living in Canada and the winnings are considered gambling so it's not taxable. At least that's what the accountant told me when I won £25 last year! I don't know about if you're resident in other countries though (if resident in the US I think you can't buy them??)

S

BristolUK

I used to have one of these

for some of these

and then one like this to put my first wage in

robin1234

Yes, supposedly. I think it's ok for US people to own them, but winning a prize is against the law. I'm a U.S. Taxpayer, I'm planning to list the twenty five pounds income as interest on Schedule B as "NS&I". I'm pretty sure it'll get through under the radar; I'm certainly not going to lose any sleep over it.

robin1234

Amazing how we used to think that 2.5% was a pathetic rate of interest. Now it sounds pretty good.

I think we used to buy those savings stamps at school. Between that and trying to drink the (warm) school milk, no wonder we didn't get taught much.

Snowy560

I know this is something different, but do you remember Green Shield stamps?!

S

BristolUK

And pink ones.

And Embassy vouchers (my dad's)

and my nan's co-op number.

Novocastrian

God,yes. When I was prepubescent, I was sent over the road to the Coop to get bits and pieces, and was always reminded to take the Green Stamp book.

Happy days (I think). Probably not.

Editha

I was my father's executor. After I'd cleared his estate I was left with a £1 premium bond dating back to the fifties. National Savings rules would not allow me to cash it in, because it was too small an amount, but they won't pay out if it wins either, because bonds are not transferable. A bit of a swiz IMO.

robin1234

Helping reduce the national debt, though.

Shard

Ha!