Prize Bonds

Yes I agree, but like I said, it really boils down to the interest achieved. This is the deciding factor. Inflation will have the same negative effect on every sum of money deposited anywhere, be it a bank or a mattress

Sure, if I had €100k to deposit for 12 months I'd stick in a high interest account to beat inglation but for the sake of €20 'interest' a year, I'm happy enough to go with PrizeBonds.
 
ButtermilkJa said:
Yes I agree, but like I said, it really boils down to the interest achieved. This is the deciding factor. Inflation will have the same negative effect on every sum of money deposited anywhere, be it a bank or a mattress
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No it won't! If inflation is 5% and I am getting 7% on deposit or 0% stuck under my mattress (or in Prize Bonds if I win nothing which is quite likely) then the net effect is very different.
 
Yes I completely understand. The point I'm trying to make is that if you remove the interest rates achieved from the equation then it doesn't matter where the money is held, as it is the interest rate alone that determines how the deposit performs and not its location.

Anyway, it's a meaningless point I made in passing and I really don't want to get into arguing it.
 
ButtermilkJa said:
Sure, if I had €100k to deposit for 12 months I'd stick in a high interest account to beat inglation but for the sake of €20 'interest' a year, I'm happy enough to go with PrizeBonds.
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Three years with 4k worth of prize bonds I won 75 Euro five times. I am well happy.
 
rmelly said:
Why? That's not a great return - barely keeping pace with inflation, if even that.
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1. No dirt
2. Possibility of a greater prize coming my way.
3. Comparison with the poor returns referred to in this thread.
4. Could not be bothered spending time and money looking for a bank that pays a better rate.
5. The fun of it.
 
L_earner said:
1. No dirt
2. Possibility of a greater prize coming my way.
3. Comparison with the poor returns referred to in this thread.
4. Could not be arsed spending time and money looking for a bank that pays a better rate.
5. The fun of it.
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1. Yes, but still not great.
2. But if you bought then today you'd still have the same odds of a big win once the vesting period (3 months?) is up. And you'd have the better interest over the last 3 years.
3. Yes, but in comparison to better returns out there...
4. Not sure what is an appropriate response to that
5. Not sure what is an appropriate response to that - maybe consider getting out more? Only kidding.
 
L_earner said:
1. No dirt
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And probably no return. In fact negative returns due to inflation.
2. Possibility of a greater prize coming my way.
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Good luck!
3. Comparison with the poor returns referred to in this thread.
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Even poor interest returns are at least guaranteed.
4. Could not be bothered spending time and money looking for a bank that pays a better rate.
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Very shortsighted view to take when looking where to invest/save.
5. The fun of it.
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Ah well - that's alright so.
 

I have just cashed in a large amount of prize bonds (get the form from the Post Office and enclose your certificate). I decided to try bonds for a year and I won €75 five times. Now I'm going to put the money into Rabo instead.
 
I still wonder do you have to pay tax on prize bond winnings if you live in another EU state outside Ireland?
 
the don - prize bonds can't answer this question
 
thedon said:
So the revenue would appear to be your next step
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Or perhaps the revenue equivalent in the country where you would be hoping to receive the prize money.

The Prize Bonds website does say "In Ireland all Prize Bond winnings are completely tax-free and are not liable to D.I.R.T. (Deposit Interest Retention Tax), Income Tax, or Capital Gains Tax.". I don't think they should be expected to know the taxation regulations in every other country.
 
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