Premium Bonds Worth it? What £7000 Wins You

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NS&I National Savings and Investments Premium Bonds are the most popular investment product in the UK. But are they worth putting your money in or should you put them into a regular savings account or even the stock market.

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Great, interesting video as always - thanks!!🙏🏻

Personally if anyone had £7000 at their disposable that they didn't need to touch for a year, but also didn't want to risk losing any of it, I'd advise them to put £6, 700 into a one year fixed rate bond like 'Charter Saving Bank' that currently pays 4.74%. Then with the other £300, I'd open a trading account such as 'Trading 212', put the £300 into an index fund (such as S&P 500) and also claim my free share!!

This way, with the interest you're earning you're not only guaranteed to get just over your £7000 balance back in your bond, but it also gives you a 'free' jumpstart into investing!!

I'd say "just my 2 pence worth", but I've already invested it...!!😄

michaelnorton

With £50k in my partner has had above 3% yearly winning consistently the last 3 years. She has two sets of numbers in series one is 33k pot the other is 17k

This year we added 7k so far to my PB account and any winnings +£650 extra /month. So far we have had £175 off circa £5000 (thats 3.5% rate of return). Found premium bonds very good so far.

RISK is the biggest factor
Tax is then 2nd.

llamudos

Thank you so much . Am now learning about investment and ready to invest .

clipsyosei

Nice video Jubair! Premium Bonds wreak havoc with my psychology 🤣 The potential to win prizes every month vs the opportunity cost if you don't.

carlenecayhill

I use premium bonds for my tax money…..as well as my day job my side hustles generate a tax bill of about £2500 per year. For me it’s a great option because the money is well out of sight, and I just pay my tax bill at the end of the year. I’m not bothered about the prizes, I’ve won a couple of £25 prizes over the time I’ve been doing it. Of course there is a tinny chance of winning a big prize but I’m not holding by breath of that happened lol.

rufdymond

Great work Jubair. Almost time for the next draw

TheCompoundingInvestor

Its attractive enough for my emergency fund too. With it being tax free and already being at my psa limits, recieving something occasionally is better than notuing.

playingFTSE

if i deposit say £5000, after approx 5 years if i want to withdraw the £5000 will i be able to withdraw the full amount or will inflation affect the total of it, will it be less? thanks

brotherabid

I personally don't think they are worth it. There are better investment opportunities out there. Despite this I have got some, just in case I hit the big jackpot! For me it is more of a 'fun' investment if there is such a thing. Sort of like a lottery ticket where you can get your ticket cost back at any point in the future if you need it.

wealthwisdomworks