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Premium bonds
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Whats the craic?
At the moment i've got a student loan just sitting in a bank account doing nothing so after buying books etc i could easily afford to put away £500 into a premium bond.. is it worth it though and would it be risking losing my money?
At the moment i've got a student loan just sitting in a bank account doing nothing so after buying books etc i could easily afford to put away £500 into a premium bond.. is it worth it though and would it be risking losing my money?
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http://www.nsandi.com/products/pb/index.jsp for more info
Now we are talking back in the 80's but apparently she started with £1, and come the time we turned 18, we both come out with approx £800. So I would reccommend them, and I cant say investing is a bad thing, if you have the money.
Also I believe it is tax-free?
I think you're better off putting your money in the bank .. but even I've got £100 wort of bonds, the main selling point is they get entered each money to win £1 million.
When I worked in a bank for work experience I'd see loads of cheques going to winners - maybe 10 a week except most of them were for stupid amounts like £5
I think its a good idea to use Premium bonds with money your not using, its better than just having it sitting in the bank and at least with Premium bonds you got the chance to win a few quid.