Premium Bonds?

[wilksj01]

Hi Everyone,

I have been saving any spare cash now for some time and I'm now thinking about ways to utilise it until I decide what to do with it.

I've only got around 10k so savings accounts wouldn't be worth it as the return isn't that great.

I have been looking into Premium Bonds from NS&I. These seem to be a great way to save money and maybe become a millionaire at the same time.

Has anyone had any experience with Premium Bonds?

Thanks,

Wilksj01

[dave87]

I've got some, won more in prizes over the years than I would have got from interest, but I've only got a small amount in them

[gman1981]

I used to have £600 till I needed all I could get to buy a flat. I had them for about 6 years and won £100 once over that time. So not too bad a return. But there is always that chance of winning the million

[Workaholic]

So far I've won less than what I'll have earned from my investment in ISAs but it is backed by the National Tresurancy (so no excuse of losing my money due to banks and bankrupty etc) and ALSO it's TAX free!

[tonytol]

http://www.moneysavingexpert.com/cgi...161700153,9594, is a good view on premium bonds. imho, put most of your cash in a good savings account (you should be able to get 5.1% or so gross), and a small amount in Premium Bonds. One thing not discussed by the article is that it's more of a hassle to cah in Premium bonds, so you do tend to keep them, unlike a net-based savings account you'll probably dip in to much too often