Premium Bond Winners – Check Premium Bonds

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Premium Bonds Have Come Under Fire From Various Groups

Premium bonds have come under fire from various groups. This government plan to give a saving opportunity to the common man allows people to buy premium bonds for a chance to win a fifty to a million pound cash prize. Unlike American lotteries, the money that you invest to buy the bonds can be used again and again during the monthly drawings. The bonds you invest in, the more you have a chance to win. The can buy up to thirty thousand premium bonds in your lifetime and the cash winnings can add up nicely if you are consistent.

Some religious groups find this is a way to gamble. Most protestant worshippers think that lottery or any other money for chance activities is prohibited by the Bible. What they do not know that you can’t lose money in the premium bond market, you only invest. If you win a cash prize fine, otherwise you can take your money and cash in the bonds with no penalty. The cash prize just adds the element of gambling to savings with the chance that you will forfeit your original investment. The random picking of the bond numbers is just making the activity fairer to all investors.

In the Bible there is no direct instruction not to gamble. In the Ten Commandments, thou shall not covet, is mentioned, but this could be interpreted as coveting another man’s wife or property.  The idea that money is coveted could be listed with the seven deadly sins of greed, but is the hope for a brighter future a sin. Premium bonds offer the saver a safe place for their money and a hope for money. There is nothing malicious about it. Even some of the money used by the government who sponsors the premium bonds goes to charitable organizations.

Even if it is not religiously oriented, there is a strong moral objection to gambling. There are some people that go over board when they are at a casino or playing the lottery, but premium bonds do not let you do that. You are not going to lose money. The money you put in will be able to be collected back anytime you want.  The winnings are an interest given out randomly with no chance of your losing the investment. It is not gambling. It is a different way to accrue your interest in a exciting way. Why get the meager interest rates offered by the traditional financial savings plan?  You have the chance of making thousand percents on your original money.

If you are now swayed from your belief that premium bonds are a system of gambling, you can purchase the bonds at your local post office and start a savings account that could make you a rich person. Even if you don’t become another Bill Gates you might get a couple of cash prizes that will be more than the three to four percent interest you receive in the traditional savings programs.

Click here for premium bond checker.

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Why is It Smart to Invest in Premium Bonds?

Most people invest their money in savings bond or the stock market.  Premium bonds are a good way to invest your money and have fun at the same time. Most savings plans give you set interest rates overtime and unless you have a lot of money invested, it really doesn’t make that much money for you. The meager interest on a money market account or a savings account will only give you a few cents and maybe dollars a month.  Some of the investment plans will not even allow you to take the money out of the bank without losing the interest.

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In stock market accounts you have the chance to make big money, but most of the time you will even out as the stocks drop and rise. A premium bond does not give you an interest rate, but they give you something better.  A premium bond gives you the chance to win a monthly lottery that is well over a million dollars. The prize is not just for one person. There is actually two grand prizes and over a million and a half others. If you have $10,000 pounds invested, you have a 19% chance of winning some sort of cash prize. In other words, the chance or winning is 1 in 21,000.  Not only is the possibility of winning exciting, it is more fun to look for a win than watch your money sit in a bank when you know what the final out come will be. The premium bond is like money in the bank and each bond has a unique number.  Each bond costs one pound, and you have to have a minimum of one hundred pounds to make an order. 

The premium bond is so popular in the United Kingdom, that over one third of the population has saved money in this fashion. Savings accounts and government bonds are stagnant. You agree to the interest upfront and that interest will not go up or down.  No matter how much money the bank or the government makes on the bond, you will only get that percentage your agreed to. Even if the bank makes a twenty percent profit on your investment, you will only get the three to five percent you agreed on.  If you need the money and take it out of the investment program, you will lose the interest that was promised you. You would have had the money invested for maybe years and you get back only what you put in.

With premium bonds you can get your money back anytime you want.  Since you really didn’t agree on a interest rate, you are not losing anything.  The only thing you are missing out on is the chance of winning one of the prizes. Premium bond advocates are not promising you anything but a chance, a chance that has better odds and more chances to win then any lottery in existence. Even a small reward will out pay any interest on American bank accounts or government bonds.

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Are Premium Bonds Worth It?

Premium bonds are becoming more popular everyday.  Millions of people are investing in these bonds and some are questioning if they are really worth it.  Premium bonds were introduced in 1956 as a way to get the public to invest into the British Government. This was set up like a lottery so that the common man could save and at the same time have a chance to winning millions of pounds. Nearly twenty million people, a third of the population now owns at least one premium bond. Investors can buy these bonds directly from the post office or they can purchase from the National Savings and Investment firms. You can then check premium bonds at the nsandi website.

Since interest rates are falling, premium bonds are seen as a safe way to invest and at the same time have the thrill of winning one of the over million and a half cash prizes awarded each month. Fifteen percent of the prize money is used for high cash prizes and another fifteen percent is used for medium cash prizes.  The remaining seventy percent of the money was used to award lower prizes that are as high as fifty pounds. A fifty pound prize on a one bond is almost a 500 percent return. Right now you have a 1 in 21,000 chance to win, but with the bonds becoming more popular, those odds may be greater in the future.

You have to buy at least one hundred pounds to invest in premium bonds and you can only have thirty thousand pounds in an account. The bonds are backed and protected by the national treasury. Anyone who invests can be assured that when they decide to pull out their funds, the money will be there.  Anyone can invest as long as you are sixteen. Many parents buy premium bonds as a way to pay for their children’s college. Young investors can learn the value of savings and at the same time get the chance to win enough money to set them up for life.

Unlike lottery tickets, the same bond can win over and over. The more you invest, the more times you will have a chance to win. The winnings are tax-free and you can even reinvest the money you win until you reach the thirty thousand pound limit. It has been reported that the odds in winning has declined in the last ten years.  It is a matter of statistics that the more bonds that are bought the lower the chance that your bond number will be picked.

The odds are still better than the American lottery because you don’t have to buy a different ticket each time. You can find out if your bond number is picked by looking at the National Saving and Invest website. Here they list all the winning numbers and all you have to do is call or contact them for you to claim your prize. It is recorded that the National Saving and Invest firm has over five hundred thousand unclaimed prizes that they are holding for claimers.

Are Premium Bonds a good idea at the moment?

Q I Am thinking of investing in premium bonds and would like to know what the odds are of getting a prize and how safe my money will be. A Premium Bonds are issued by National Savings and Investments and are backed by the Government

Premium Bonds offer worst deal for 50 years

Britain’s 23million savers who have Premium Bonds are being hit by the worst deal since they were launched more than 50 years ago.

Premium Bond prizes held steady

The Premium Bond prize fund is to stay at current levels in February and March – despite cuts in interest rates.  

Premium Bond minimum win to be cut to £25

National Savings & Investments (NS&I) have today announced that they will be introducing a new £25 Premium Bond prize amount. 

Premium bonds go back to the 1970s with shrinking pay outs

Premium bonds go back to the 1970s with shrinking pay outs. Jan 21st, 2009. by Telegraph Politics. Payouts from premium bonds Britain’s most popular form of saving are likely to shrink yet further in April.

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