Premium Bonds

[Babli1980]

Hi I am thinking to buy Premium Bonds for my 3 boys ...Is it wise decision to buy these or not ...thnx😊😊😊😊

Aye, they're good fun.

You could invest money in other places that would probably earn you more in interest, but that would be boring.

Why not?! The banks are giving naff all interest, and there is always that hope that you may get a knock on the door

A small amount for a bit of fun yes. A larger amount I wouldn't, I would buy some decent investment fund shares with a good dividend.

mando the max amount you can invest is 50k.

With a "small amount" of premium bonds you don't really have a chance of winning. I think the odds are 30,000 to each £1 you have invested. I'd say you do have to have a decent amount to make it worth your while - I have £10,000 worth and win £25 apx 4 or 5 times a year.

Saying that you're getting naff all interest from the bank, so why not?

I'm not read up on what premium bonds is, exactly, but my first thought is why don't you buy them equity (shares) that give dividends, in some reputable company?

Thnx everyone for ur suggestions I will try to invest in shares and yes bit in premium bonds maybe I get lucky and have a knock on door by winning something 🙈🙈🙈

I've invested £40k and have won £1,700 in 16 months. Not huge but more than what my bank would have given me. Your return will depend entirely on the amount you put in, but ultimately it's a game of luck.

One of the million pound winners in May only had 3k in bonds.....!!!!!

www.moneysavingexpert.com/savings/premium-bonds

^ a good break down of the odds there