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Sazzy | Why does the value of premium bonds not go up? |
Additional Details
it may only be £7 but with christmas nearing and it being 34 years ago must be woth something and i am getting lots of different answers, if anyone definate what the rules are
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Mr Crusty
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I've already answered this (in one of your previous questions...)...Premium bonds are only worth the face value because they are put into a draw for prizes....
See the link:
http://www.nsandi.com/products/pb/index.jsp
& BBC article about them: http://news.bbc.co.uk/1/hi/business/2965610.stm
PS I'm going to bed now...there are no 'rules' - as most people have told you (probably because they have some like me) - they are entered into a draw & that’s it. NO interest but maybe you could WIN thousands - Keep them! Goodnight. |
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ShumB
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Premium Bonds are just like lottery tickets its just that they keep getting entered every week. You dont get interest on lottery tickets. |
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Doethineb
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The face value of your premium bonds does not increase. It represents the capital you invested. With most forms of investment, you can expect some kind of return in the form of interest. When you invest in premium bonds, however, it is on the basis that whatever interest might have been payable on your investment is put into the general pool out of which prizes are paid. Some people are fortunate and win good prizes, while others never win anything and meanwhile the real value of their investment depreciates as the years go by. |
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Mighty-Tigers
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They do not go up in value as they entered into a draw which could win you anything from £50 to £1million. You can however withdraw them whenever you wish and still get back what you put in.
If you buy £7 worth of lottery tickets, you have a lot less chance of winning and if you lose, you dont get your money back.
If you are really that short of money, have you thought about cutting back on things you dont really need. (not sure how old you are but these things could be things like Beer, cigarrettes, sky tv, ordering less from catalogues). I dont smoke but would guess that if you do and you cut back on 1 packet per week for 2 weeks, you would have saved about £9 and improved your health in the process, you will also still have the chance of winning on the Premium bonds. |
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Max
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God woman you only have 7 quids worth, wats it matter? |
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Social Science Lady
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Premium Bonds are at all times only worth their face value The money from their sale is invested and the `interest` made on it goes into `the kitty` to pay the prizes to the winners.It was one way to get around Britain's `games of chance`rules. Interest has never been payable, but every month there is a chance to win cash prizes. You can at any time cash in your bond and get your money back. |
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gvih2g2
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Sarah, in your earlier question that I answered you only asked "what £7 in 1972 would be worth today". I told you about the return if it had been invested in shares - but invested in premium bonds, the value today is £7 (plus any prizes won).
That's all, and I never intended to give you false hope with my "different answer" because I didn't know this was what you were driving at - you asked a different question.
At the moment, the odds of any £1 in PBs winning in a given year is about 2000-1 against. The £7 you have, held for 34 years, would represent about 200 "bond years" - so the odds are 10 to 1 against you having won anything. But it's worth checking, as others have told you.
Basically, it's as if the interest was used to buy you a lottery ticket - and like in a lottery, you either lose small or win big. But not everybody wins big, or the government would go bust. The odds are good that you are one of the millions who have lost small, many times, and that's why your £7 is still only worth £7. |
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