Alfa Romeo Forum banner

1 - 16 of 16 Posts

·
Registered
Joined
·
14,575 Posts
Discussion Starter #1
I put some money into a savings bond with Norwich and Peterborough just before Christmas, I got a rate of 4.41% fixed for 6 months and it has now run its course. They sent me a letter to tell me that it had finished and transfered it into a holding account at 0.10% interest (KEEERRRRRRRRCHING!!!!) so I need to get it earning me some more money again. With the state of things with the interest rates and stuff I was wondering about premium bonds, fair enough you dont get interest but you stand a chance of winning something. Going into N&P today to and have a word, will see what rate they can give me a have a think about my options. Any advice or info welcomed ;)
 

·
Administrator
Joined
·
45,145 Posts
On moneysavingsexpert.com there's a little tool which tells you your chances of various returns with premium bonds, and how they compare to interest rates.
 

·
Regional Support, For Lincolnshire - AOL
Joined
·
16,322 Posts
The prize funds have dropped, they now have £25 ones instead/as well as ? the previous minimum of £50. Bit of a con this.

I have the maximum allowed and generally they are doing better than my building society accounts, unfortunately that's not saying much. :cry: I have had them since '99 and generally win something every month although never more than £200 in a month. I know someone who won £5000 in his first three months of having them so I live in hope. I reckon I'll be keeping them as you never know, you may get lucky and win a lot, people do every month. Better than the Lottery, you at least don't lose your money except for any interest but these days that 'aint a lot to lose.

I need to look at sorting out some better deals as well Jim but there's not much out there. Some Fixed Rate Bonds look attractive but most people I speak to advise against anything fixed for more than one year. I s'pose you pays your money and take your chance, unless you have access to a crystal ball, in which case I'll be over your place this afternoon...........:D
 

·
Regional Support, For Lincolnshire - AOL
Joined
·
16,322 Posts
I have had £100.00 of PB since 1967 and never won a penny!!:cry:
:lol: Don't give up hope ! My friends daughter had a £5 Bond bought for her in 1978. She won £25 last month !!!!!!

Anyone care to work out the interest on this in " real money " terms ? :D
 

·
Registered
Joined
·
9,967 Posts
I've got some premium bonds, even had a £50 win last year! I think you really need a few £k to get regular wins though!
 

·
Registered
Joined
·
3,299 Posts
I put some money into a savings bond with Norwich and Peterborough just before Christmas, I got a rate of 4.41% fixed for 6 months and it has now run its course. They sent me a letter to tell me that it had finished and transfered it into a holding account at 0.10% interest (KEEERRRRRRRRCHING!!!!) so I need to get it earning me some more money again. With the state of things with the interest rates and stuff I was wondering about premium bonds, fair enough you dont get interest but you stand a chance of winning something. Going into N&P today to and have a word, will see what rate they can give me a have a think about my options. Any advice or info welcomed ;)
This is the link you need: Premium Bonds: Are they worth it?...

Unless you've max'd out your ISA and fancy a flutter, they're not really worth it IMHO.
 

·
Registered
Joined
·
14,575 Posts
Discussion Starter #10
Well people thanks for the replies, TBH I'm still confused which will be of no surprise to you :lol: I went into Norwich & Peterborugh today to find out their rates and it looks like my best option is to go for a one year bond which would give me a rate of a crappy 3.05% :rolleyes: I have had a look on the premium bond calculator and well they are basically the same what I could get in interest or win (obviously no guarantee I would win owt!) so I think its best to play it safe and bug it in a bond for a year but I might still change my mind :eek:

When I went into N & P I took my book for my ISA so they could put the interest on it and I got £398.78 so thats good :cool: Would of been better if I had of realised it wasnt a fixed ISA when things all went t1ts up :doh: :rant:
 

·
Registered
Joined
·
14,575 Posts
Discussion Starter #13
Barclays Golden ISA is 3.61% IIRC.
Oh right will have a look into that, not put anything into my ISA this year with them being pap so might look into doing one with Barclays. I do hate Barclays with a passion though, I bank with them because they are round the corner and I dont like internet banking but they did me over for about £300 worth of bank charges when I thought my account was closed but thats another story :bang: :lol:

What does IIRC mean by the way? :eek:
 

·
Registered
Joined
·
14,575 Posts
Discussion Starter #15
M

·
Guest
Joined
·
0 Posts
I thought about getting some premium bonds but never got around to getting any.
 
1 - 16 of 16 Posts
Top