thekickin... 5

thekickinkat

Add to my Circle of Trust

Subscribe to reviews

About me:

Member since:01.01.1970

Reviews:11

Quote-start

Premium Bonds?? Top Totty

Quote-end
17.10.2003

Advantages:
£1 million jackpot, over 500,000 prizes per month, chance to win every month, prizes tax free

Disadvantages:
Must buy a minimum of £100 each time,each bond must be held for a month before it is entered continually

Recommendable Yes:

Detailed rating:

Efficiency of service

Competitiveness of charges/rates

Online - Content/organization of site

Staff courtesy

Promptness of service

Online - Reliability/speed of site

Online - Ease of applying for products

Online - Investment tracking

29 Ciao members have rated this review on average: very helpful See ratings
very helpful by (97%):
  1. xdonzx
  2. Rosassnaps
  3. Birky
and 56 other members
helpful by (3%):
  1. fragel
  2. nursey311

View all ratings

The overall rating of a review is different from a simple average of all individual ratings.

Share this review on Google+

THE BEGINNING:

I chose to invest in premium bonds for university, namely because of the decrease in interest rates. Also, my building society account was offering very little return and was so hugely inaccessible and was ran by some idiots who could never put money into my account without damaging the paying in book and each time I had to wait for a new one to be sent in the post. Consequently, I did some serious research, I figured that I still want my money to be fairly hard for me to reach otherwise I would have spent it all in a day. I soon realised that premium bonds were the ultimate investment as I was guaranteed all the money I put in and I had to chance to be a millionaire – Yippee!

WHAT ARE THEY?:

Premium Bonds are bought and sold under the operation of National Savings and Investments and offer 100% security because they are backed by the HM Treasury. A premium bond is a unit of £1, however, you must buy a minimum of a £100 at anyone time. Each unit is entered into a prize draw monthly, with each unit now holding a 1 in 30,000 chance of winning.

PRIZE ALLOCATION:

Each month the draw is divided amongst the winning bonds as follows by the random number generator ERNIE, who is checked independently checked by the Government actuary to ensure no cheating.

Higher Value – £1.8 million
£1 million 1 prize
£100,000 2 prizes
£50,000 3 prizes
£25,000 6 prizes
£10,000 16 prizes
£5,000 33 prizes

Medium Value - £1.8 million
£1000 730
£500 2190

Lower Value – £32.9 million
£100 11,129
£50 635,071

GENERAL ODDS:

As I have said before the expected odds are 30,000 to one. In brief, if you bought 30,000 premium bonds i.e. invested £30,000 you would be expected to receive 12 prizes a year ranging from £50 to £1 million.

WHAT ABOUT THE TAX MAN:

All winnings are free from Income Tax and Capital Gains Tax and will not need to be stated on your tax return.
CAN I BUY THEM:

Anyone can buy premium bonds so longs as they are over 16 years of age, otherwise a parent or guardian can buy them in their name. These however are non transferable.
If you have changed address you must notify them, otherwise you will never receive your prize!!
The address is:
Premium Bonds
National Savings & Investments
Blackpool
FY3 9YP

Equally if you do not know you’re holder’s number you can write to the above address (only those from 1976 will be on record!) You can also try to find out if you have won but your change of address meant you were unable to receive your prize.

You can buy bonds at your local post office and pay by cash or you can send cheque made payable to National Savings and Investments to:

Premium Bonds
National Savings & Investments
FREEPOST BJ2092
Blackpool
FY3 9XR

WHAT IF I WANT MY MONEY BACK:

You can go to your local post office and request a form to request to cash in your premium bonds, be warned this could take up to 15 days.

PERSONAL RETURN:

Well I've only just invested in them, this opinion is for how my situation stands with premium bonds, I have only been entered for one draw so far and no luck! Im still waiting for some bonds to be entered, who knows might get lucky! Fingers crossed

I will keep you posted on this, since I've had a lot of feedback requesting my personal gain - which is none as of yet.

  Write your own review

Share this review on Google+

« Previous review   Next review »

Rate this review »

How helpful would this review be to a person making a buying decision? Rating guidelines

Rate as exceptional

Rate as somewhat helpful

Rate as very helpful

Rate as not helpful

Rate as helpful

Rate as off topic

Write your own review Write a review and you will earn 0.5p per rating if other members rate your review at least helpful. Write a review and you will earn 0.5p per rating if other members rate your review at least helpful.   Report a problem with this review’s content

Comments about this review »

Rosassnaps 01.03.2004 01:12

Well worth investing in these if you can afford to put in 20 to 30 thousand pounds. How many do you have?

rosillew 23.11.2003 11:54

Very informative op; yes you used to be able to buy single £1 bonds, my parents bought me, my Sister and my brother £5 worth each when we were born over 50 years ago, I bought both my Daughters £10 worth each when they were born, but Ernie has never paid us out a penny, Heatherx

rosillew 23.11.2003 11:52

Very informative op; yes you used to be able to buy single £1 bonds, my parents bought me, my Sister and my brother £5 worth each when we were born over 50 years ago, I bought both my Daughters £10 worth each when they were born, but none of them have ever won anything, Heatherx

Add your comment

max. 2000 characters

  Post comment

More reviews »

Review Ratings »

This review of National Savings and Investments Premium Bonds has been rated:

"very helpful" by (97%):

  1. xdonzx
  2. Rosassnaps
  3. Birky

and 56 other members

"helpful" by (3%):

  1. fragel
  2. nursey311

The overall rating of a review is different from a simple average of all individual ratings.



Are you the manufacturer / provider of National Savings and Investments Premium Bonds? Click here