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Who uses premium bonds?

Smart Finance

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I'm not the biggest fan of premium bonds and believe you have to have a fairly substantial amount to get some decent prizes. Does anyone hold any? I think I've got £125 in my premium bond account but I haven't looked in a while.

I've known some people to use it as an emergency account.

 

Chris

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Apr 1, 2021
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I'm not the biggest fan of premium bonds and believe you have to have a fairly substantial amount to get some decent prizes. Does anyone hold any? I think I've got £125 in my premium bond account but I haven't looked in a while.

I've known some people to use it as an emergency account.

I’ve got some, might as well use pb over normal savings account with poor interest rates just in case that big prize comes in.
I tend to win every month (£75 this month) but i do have a decent amount in there.
If savings interest rates went up I would look at different options but for the time being I’m going to leave them in.
 
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Smart Finance

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I’ve got some, might as well use pb over normal savings account with poor interest rates just in case that big prize comes in.
I tend to win every month (£75 this month) but i do have a decent amount in there.
If savings interest rates went up I would look at different options but for the time being I’m going to leave them in.
Thats got to be quite nice to have a win each month. Id wonder if gambling addicts were to put their money into premium bonds could it stretch that itch and build up a little nest egg.
Interest rates are shocking. I made more money through dividends in one month on £10k than an entire 5 years of it within an savings ISA. Worth taking the risk as in a savings account your loosing anyway.
 

SolidSparrow70

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I put a proportion of my emergency fund in Premium Bonds but by no means all of it. It's just another pot to put some money for me. If I get the odd £25 win then I just re-invest it.
 

The Dividend Experiment

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I use it as my emergency fund, have about £12,500 in atm and win fairly often. The actual interest rate equivalent is pretty low still but its a lot more fun than a savings account and the money stays at the same value.
 

Ardgour

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Mar 16, 2021
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I have £25k in PB

Remember this.....CASH IS KING

and premiums bonds can be cashed in within days.

If such a thing as a pandemic we’re to hit us, and the stock market crashed etc, having some cash isn’t that bad an idea

I won £125 this month - but nothing the previous 3 months
 
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Smart Finance

Administrator
Staff member
Moderator
Feb 23, 2021
692
409
3,887
gumroad.com
I have £25k in PB

Remember this.....CASH IS KING

and premiums bonds can be cashed in within days.

If such a thing as a pandemic we’re to hit us, and the stock market crashed etc, having some cash isn’t that bad an idea

I won £125 this month - but nothing the previous 3 months
That's an substantial amount in Premium Bonds. Surprised you had 3 months of nothing previously. Having cash, whether an emergency fund or F.U money, can be extremely beneficial. I've known a few people with larger portfolios count cash as a position, normally no more than 5-10% of their portfolio.
 
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Ablearcher13

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I have around £600.00 invested. Keep a check once a month, haven't had a win so far this year.

Still have the bonds my mum and dad got me when I was born.