Premium Bonds

[Seagull on the wing]

On looking at stats....if you have the maxium of £30,000 you will win about 13 prizes a year. I bought bonds when they first came out...£1,£2 and £5 have topped them up with £500 and £1,000 over the years. Had stipulated that everything under £2,000 won would be re-invested...now have £5,348...

 

[rdigs24]

On looking at stats....if you have the maxium of £30,000 you will win about 13 prizes a year. I bought bonds when they first came out...£1,£2 and £5 have topped them up with £500 and £1,000 over the years. Had stipulated that everything under £2,000 won would be re-invested...now have £5,348...

I have putting my tax money into Premium bonds for the last 5 years to cash in whem the nice Taxman asks for his cash. In 4 of the 5 years of doing this the only time I've won anything is when ive cashed in and closed the account.

 

[Munkfish]

What are you going to do with your returns though, re-invest them? i think not, with life savings you could get a lot more paid back to you from an income in a collective or a bond at the moment, If you are looking for a LONG TERM investment so anything over 7 years i cant see why you wouldnt look into investment funds, if you keep a regular eye out for whats going on in the market you can always switch out.

 

[Albumen]

I have a few grand savings but I've only one £25 win for my troubles. Has this month's draw been done?

 

[Vegas Seagull]

I have putting my tax money into Premium bonds for the last 5 years to cash in whem the nice Taxman asks for his cash. In 4 of the 5 years of doing this the only time I've won anything is when ive cashed in and closed the account.

Interesting last point. I had the max £30k for a few years and did win about a dozen times a year, sometimes nowt for 3 months but then when 4 envelopes hit your doormat one month it is more fun than any dull building society a/c can ever bring. However, when I went a ridiculous 7 months with nothing I moved my money into shares. I just knew they would sent me a last cheque to wind me up (tempt me back?) & a f/n after they were gone £50 plopped onto my doormat.

 

[Mo Gosfield]

The secret with PB's is to cash them in regularly and keep getting new/different numbers. I would recommend at least annually if not every six months.
Believe me folks, it does work. You will win more than sitting with the same numbers for years.

 

[Tricky Dicky]

I have £26,000 and get roughly the number of prizes according to the odds. Not had more than £100 wins in any one prize, but have had, I think, 4 or 5 prizes in a month.

 

[Birdie Boy]

The secret with PB's is to cash them in regularly and keep getting new/different numbers. I would recommend at least annually if not every six months.
Believe me folks, it does work. You will win more than sitting with the same numbers for years.

Also, if you are building up the number of PB's via winning's or monthly standing order, when you get to a block say, £1,000, cash them in and buy again to get a continuous block. The theory is that you have more chance if you have a big block of numbers rather than numbers randomly spread.

I noticed in the last draw, the winner of the £1m had around £500 worth of PB's, second had about £20k's worth. So does show that you can win with just a few..

 

[Durlston]

I never won a thing on them when I got some premium bonds for my 18th birthday. The money might as well have gone into my bank account.

My mum on the other hand, has won quite a bit on them - usually the lowest amount, 25 quid which is alright.

 

[Albumen]

Also, if you are building up the number of PB's via winning's or monthly standing order, when you get to a block say, £1,000, cash them in and buy again to get a continuous block. The theory is that you have more chance if you have a big block of numbers rather than numbers randomly spread.

I noticed in the last draw, the winner of the £1m had around £500 worth of PB's, second had about £20k's worth. So does show that you can win with just a few..

Hasnt this theory been proved wrong?

 

[kingcole]

It's a random number generator.

Each £1 entry has an equal chance.

The only thing that happens in you cash them in and re-buy is that you lose the chance of winning completely for one month.

Derrrr

 

[Southstandfaithful]

i've got about £4K of Premium bonds and have won approx £600 in last 3 years (which includes a £500 win)... so not too bad......

 

[Birdie Boy]

Hasnt this theory been proved wrong?

I don't know, has it?

 

[Birdie Boy]

It's a random number generator.

Each £1 entry has an equal chance.

The only thing that happens in you cash them in and re-buy is that you lose the chance of winning completely for one month.

Derrrr

Yes, every £1 entry does have an equal chance. However, with a £1 entry, the number next to yours may be drawn out and you won't win but with a block of £1,000, the next number is likely to be yours anyway. I am sure mathematically it is all the same but obviously it is up to you.

And yes, you will miss a month by doing this.

 

[Albumen]

May draw:

£50,000 175YF740080 Brighton and Hove £30,000 (invested Dec-10)

*******s

 

[Tricky Dicky]

September 1992 £100,000.....I win ;-)

That's a nice sum to win, enough to make a bit of a difference but not enough for begging letters. If I won that amount, no-one would find out (and I mean no-one, though I might tell the cats !)

 

[Grapes of Wrath]

With the max of £30k, you will win something most months, usually only £25 but 2 or 3 of them a month is common.

Safe, and a better risk free return than normal savings accounts, in my experience.

 

[fratsomrover]

I'd recommend Premium Bonds any time. I closed my savings account at Barclays after getting around £47.00 interest net on £25K.
I bought 25 thousand premium bonds and got a return on 16 consecutive months. Nothing massive, some months I won 3 x £25 and others 2 x £25 and the rest 1 x £25. There has only been 3 months when I haven't collected anything. So I've had around £375.00 in winnings to date over 23 months, so it beats my Barclays return by a mile.
Well worth a punt in my opinion and you never know, you just might win a bumper prize !! I wish you luck

 

[Tricky Dicky]

I have £3000 and have consistenly won £50-100 each year, so a return similar to what others have been getting

You look forward to the envelope from Scotland arriving on the 19th of the month ...

I check mine on the 4th working day of the mnth and any winnings get automatically paid directly to my bank account - no need for cheques these days

 

[Beach Hut]

I check mine on the 4th working day of the mnth and any winnings get automatically paid directly to my bank account - no need for cheques these days

I am fuming, I bought £8K more last month and won jack shit