Premium bonds

[Wouldyougivemeamortgage]

Would you buy premium bonds? There doesn't seem to be a downside, does anyone know of any?

I have a small savings pot that needs to grow so I can buy a house. My savings are earning nothing in the bank so thought I could transfer to premium bonds, even if I win £25 it's more than I'd get in the bank.

Anyone have any experience of them?

I have £30,000 worth. I keep a record of what I have won yearly.
It's always £25 and occasionally £50 but sometimes it can be a few £25s a month. This is what my figures are ( remember yearly )
£425 - £350 - £175 - £375 - £275 . Hope that helps.

I have £50k in Premium Bonds and have won £450 so far this year. I wouldn't get anywhere near that in interest from a bank or building society.

I had 1.5k in them and I think won 25 quid twice and 50 quid once in the space of 3 or 4 years

We hold about 25k.

Probably make about 250 per year .

I’ve had £500 worth for quite a few years and won’t nothing. My mum wins £25 quite often.

I’ve just invested another £10000 in more as interested rates are so poor so 🤞

We’ve got £50k x3 in premium bonds for the last few years. We all typically win every month and hit the 1.4% interest rate (if that’s what it still is). Winnings typically vary from £0 to £150 a month.

It’s a convenient, short term, easy access investment with a very small chance of winning £1 million pounds. We would invest more if we could our other easy access savings were getting 1.5% although I think that’s gone down recently. If you have spare cash put it in premium bonds and keep your fingers crossed if you win nothing c’est la vie the interest at 1+% is hardly life changing but winning £1mil could be.

I have £14K in premium bonds and win around £25 every 3 months approx. Better than my Santander account with £15K which is now going to earn zilch. I'll be transferring it over.

I've just bought my first lot this month. With interest rates being so low at the minute, I figured it was worth a shot.