Premium Bonds

Yes wife put 20k in dec and won 50pounds in first eligable draw if she gets that every month that will be 600 in 12 months that will equal 3% that would be a great return compared with banks
 
They are not as good as they were a few years ago. I was told not to bother by someone definitely ITK. That said for safe investments there's little else ATM.
 
Sooty59 said:
They are not as good as they were a few years ago. I was told not to bother by someone definitely ITK. That said for safe investments there's little else ATM.
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When you say they are not as good as they were a few years ago it depends which way you look at it they actually scrapped some of the big prize funds (£500,000 and £250,000) but increased the smaller ones like in the £25,000 £10,000 £5,000 brackets so in reality more people are now actually winning but yes smaller prize funds.
I’ve had premium bonds for years and although the most I’ve ever won is only £100 in one month I’ve averaged between £450-£550 per annum which like a poster above says beats any savings account returns hands down.
 
Jaffa_The_Hut said:
When you say they are not as good as they were a few years ago it depends which way you look at it they actually scrapped some of the big prize funds (£500,000 and £250,000) but increased the smaller ones like in the £25,000 £10,000 £5,000 brackets so in reality more people are now actually winning but yes smaller prize funds.
I’ve had premium bonds for years and although the most I’ve ever won is only £100 in one month I’ve averaged between £450-£550 per annum which like a poster above says beats any savings account returns hands down.
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It's all pretty poor ATM

www.moneysavingexpert.com

Martin Lewis video: Should you keep Premium Bonds now the prize fund has dropped to 1%?

Around 21 million people with a staggering £99 billion saved in NS&I Premium Bonds saw their chance of winning fall this month, as the prize-fund rate dropped from 1.4% to 1%. But should you stick or twist? MoneySavingExpert.com founder Martin Lewis reveals whether Premium Bonds are still worth it
www.moneysavingexpert.com www.moneysavingexpert.com
 
Have a few mates who work at NS&I.
They recently moved over to offices in Lytham and those who moved expect to see that workforce shrink even further as ATOS do their worst
The interest rates are shocking, the customer service is non existent & appalling....even the Daily Mail hate them......which is a positive!!!

People need to have the maximum £50k in bonds if they stand a remote chance of winning the odd £25 every month
If you don't have a massive blocks of bonds...... (they are all sequential numbers)......the odd's are miniscule
The clued up owners are cashing their bonds in at the end of each year and then re-buying as a new block to have a better chance.

If you only have a few hundred/thousand bonds, you have better a better chance of winning the euro lottery....on a Sunday
 
B_Side_The_C_Side said:
Have a few mates who work at NS&I.
They recently moved over to offices in Lytham and those who moved expect to see that workforce shrink even further as ATOS do their worst
The interest rates are shocking, the customer service is non existent & appalling....even the Daily Mail hate them......which is a positive!!!

People need to have the maximum £50k in bonds if they stand a remote chance of winning the odd £25 every month
If you don't have a massive blocks of bonds...... (they are all sequential numbers)......the odd's are miniscule
The clued up owners are cashing their bonds in at the end of each year and then re-buying as a new block to have a better chance.

If you only have a few hundred/thousand bonds, you have better a better chance of winning the euro lottery....on a Sunday
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Why do you have a better chance of winning if you buy in blocks?
 
tangerinenotorange said:
You don't. The odds are the same whichever numbers you have.
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Tangerineorange will know that E.R.N.I.E 5 randomly selects numbers from EVERY premium bond ever purchased since 1956

E.R.N.I.E 5 selects more numbers than prizes......Because those bonds that have been cashed in are then removed (I think) by another programme
This gives a list of 'live' bond numbers......(and that's why dead people can still win.....the numbers are always in the draw until cashed in)

Numbers are always sequential when you buy them
So say you buy £20.........(and this is just for ease).....you get 1 - 20 ( in reality it's 1 -19 but I'm too tired to try and explain it)
So say you buy 50,000.......you get 21 - 50,021

The chance of winning any prize is 34,500 to 1 and because E.R.N.I.E 5 picks random (sequential numbers) the larger the 'block' .....the better chance of a number 'occurring' in that larger block....statistically speaking

There is also data to show that new numbers occur 'statistically' more than the older/earlier numbers.....people who are also holding smaller blocks (although discouraged) will cash in re-buy in one larger block to have a better chance of a number occurring in that sequence.......if that makes sense?

So....sorry for the long winded reply
 
This financial year I have received about 2% so far on my investment - although not checked yesterdays.

I have two blocks.
 
Just to add - I don’t look at it as a serious investment with the rates you get.

BUT you might get lucky 👍
 
I win at least £25 most months, the biggest win I have had was £500, and have just won £125 in this months draw, so not a bad return at all compared to rates elsewhere.
It is also fun waiting for the results each month in case you do get lucky and win big, plus your capital is not at risk.
 
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The other attribute about them that has not been mentioned, is they are quite quick to redeem. You can usually get your cash out in 3-5 days which is very favorable to a banks high interest account . So I use them really to hold cash that I might need in the medium term. 1 % is better than a bank and you never know you might win big ! Income is also tax free

There is something in this new bonds have a greater chance of winning. A few months ago my Mum had some spare cash so I created her an account. Although she had a relatively small amount invested she won something in each of the first two months.
 
Loftyboy said:
Yes wife put 20k in dec and won 50pounds in first eligable draw if she gets that every month that will be 600 in 12 months that will equal 3% that would be a great return compared with banks
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I also have £20k in Premium Bonds and had a few wins over the last few years (mainly £25) - not a sniff for 14 months now!
 
I hold the maximum of 50K and my Mother has 20K.
We have won £75 between us in last 6 months.
The maximum I have ever won is £500 and in previour years won around £300/400 per annum.
Over 20 years around £8K. It is a safe tax free haven but not serious investment.

I haven’t won this month.

On the contrary I invested £7000 in a stocks and shares ISA around 20 years ago.
It is now worth £62K.
 
I wait for the email to tell me I've won, then Iog on to see how much, usually its £50 to £125, but last Yr I did have a £500 win, & you could always win big....
 
Safe option of investment at the moment, averaging 2.25% over the last year for us, which is our best yearly return.

Won £175 this month and £675 last month (best ever) and generally win small amounts most months.

Straight forward and flexible if an unspectacular way of earning a little interest if you are fortunate enough to have some spare cash.

Good luck to you all...
 
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I have the 50k as I got fed up with the interest rates 3 months ago, so far I won, 0, 50 &50 again last month, not checked this month yet. I pressed how easy they were to purchase, should have done it some time ago, but this is the 1st month we also got some more for the wife so fingers crossed.
 
The interest rate for prizes went down a couple of months ago, so the number of prizes obviously diminished too.
I worked at what was Bonds and Stock Office for 14 years and the debate was always there whether, for example, a £10,000 block of bonds had a better or an even chance of winning as £10,000 of scattered bonds.
The bosses always said every one pound held has the exact same chance but I and most staff said that one block is always better.
If you had £50,000 as a block, once a prize went into the £100,000 range that your numbers were in, you have a one in two chance, but when it gets down into the £10,000 range, YOU HAVE WON.
That's how I shall always look at chances of winning prizes on Premium Bonds.
 
Me and my wife have a fair amount in PB and purchased some more last week.
Did quite well at one time but last year was very poor. Good start to this year though, £50 for me and £25 for her.
 
I worked Prebonds 1960/1972. It's where I met MrsDP.
We have a few £Thousand and get the occasional prize but happy to leave them there.
They moved to Glasgow many years ago.
Any local footballers of that era would know Pete Wassall, good friend (through football team) of mine.
Pete went to Glasgow when they moved and being the bright guy he was he got promotions and eventually came back home.
Unfortunately Pete died at a relatively early age. I had been in touch with him even when I was down South.
A great guy and friend.
ERNIE actually means Electronic Random Number Indicator Equipment.
 
Just checked mine for this month wife’s allocation nothing (but I didn’t win in my first month either) but me yet again £50.00, I know it’s not much for £50k but it’s better than the bank
 
Just checked March not won a Sausage. 😳
Seriously though I’ve just checked back and that’s the first month I’ve not won anything in 7 months.
 
Eagle, I'm the same. I was bought one, as a christening present I believe, still have it. I've never won a thing either.

I'm starting to wonder if my life long optimism is unfounded.
 
Watched a programme with Martin Lewis a few months back. He claims that the minimum worthwhile amount you need is 10k. Not everyone can afford that. I have around that and haven't ever won.

Interest rates for savers are gash at the moment anyway.
 
The Premium Bonds current interest rate is 1%. However 20% of the prize fund is held back for the big prizes and the remaining 80% paid out as smaller £25 & £50 payments.

It's a matter of luck whether you win a big prize, but for a signiicant investment (say £10k or more), then an equivalent payout rate of 0.8% (ie the 1% headine multiplied by the 80% allocation to smaller prizes) compares quite reasonably with other current savings vehicles

And premium bond prizes are tax-free
 
If it wasn’t for Premium bonds we would never have moved to Fylde and I would never have been a Pool fan.

My Dad won £1000 in1961 which was a huge sum in those days. It was my Mother’s dream to move to the Gold Coast. My parents could buy their first home for a whopping £2300!
They were worried about repaying a mortgage of £19 a month.
My Mother applied for a job at Premium bonds however ended up at Norcross.
 
Jaffa_The_Hut said:
When you say they are not as good as they were a few years ago it depends which way you look at it they actually scrapped some of the big prize funds (£500,000 and £250,000) but increased the smaller ones like in the £25,000 £10,000 £5,000 brackets so in reality more people are now actually winning but yes smaller prize funds.
I’ve had premium bonds for years and although the most I’ve ever won is only £100 in one month I’ve averaged between £450-£550 per annum which like a poster above says beats any savings account returns hands down.
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It’s down to pure luck, my wife has has had some, admittedly in the £100s of pounds not £1000s, for over 40 years and hasn’t won a penny.
 
Davepick said:
I worked Prebonds 1960/1972. It's where I met MrsDP.
We have a few £Thousand and get the occasional prize but happy to leave them there.
They moved to Glasgow many years ago.
Any local footballers of that era would know Pete Wassall, good friend (through football team) of mine.
Pete went to Glasgow when they moved and being the bright guy he was he got promotions and eventually came back home.
Unfortunately Pete died at a relatively early age. I had been in touch with him even when I was down South.
A great guy and friend.
ERNIE actually means Electronic Random Number Indicator Equipment.
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Seems strange Dave that we both worked at Prebonds in St Annes and then both moved to Customs and both were involved with the football team but I never had the privilege of meeting you as far as I am aware 🙂. I played in the Bonds team with Pete and his brother Dave Wassall too.
 
tommytwojags said:
Seems strange Dave that we both worked at Prebonds in St Annes and then both moved to Customs and both were involved with the football team but I never had the privilege of meeting you as far as I am aware 🙂. I played in the Bonds team with Pete and his brother Dave Wassall too.
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ttj, Check your 'inbox'.
 
Good safe TAX FREE investment ie Premium Bonds. We won 0.8% in the last tax year on PB - best rate ona decent Fixed rate cash ISA is 0.6% atm.

So if you want a save tax-free investment, they re not too bad.The website is very quick as well , to invest or withdraw.

UTMP
 
I
Tangerine Trev said:
Good safe TAX FREE investment ie Premium Bonds. We won 0.8% in the last tax year on PB - best rate ona decent Fixed rate cash ISA is 0.6% atm.

So if you want a save tax-free investment, they re not too bad.The website is very quick as well , to invest or withdraw.

UTMP
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I wouldn’t call it an investment ,just savings account.

For the longer term there is no better investment than property or reputable stocks and shares account .
 
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