We joined bonus bonds a couple of years ago as a somewhat temporary oncall savings account when we received a decent chunk of money. Interest on the term deposits and savings accounts didn’t make these worth while options, so bonus bonds seemed fine for a year or two. During this time, we consistently won small prizes equating to the equivalent interest we would have received in a term deposit, and on one occasion netted a larger prize. So in the end we have been happy with bonus bonds.
Now that bonus bonds is closing we are wondering if it’s worth saying in during the windup process. ) I read an opinion piece that suggested staying in could result in larger returns. The article mentions 1.8 cents and 3.6. Though not 100% sure what that’s saying exactly.
Obviously there is a huge risk doing this... I think. As I don’t think they could guarantee our initial investment, and I’m unsure how the actual windup process even works, would we be treated more like a shareholders? But on the other hand what are the actual risks? Is there the possibility we could come out out the other end in a better position?
Does anyone has any experience with anything like this? Any financial wizards out there who could offer their thoughts or advise?