Premium Bonds - If you post to say how much you've won, please also say how much you have invested.
- Thread starter Feek
- Start date
*is not jealous at all*
Your not jealous of the £25 I got this month though ? I probably won't get anything in December
Last edited:
I've had 40k in a cash ISA since march (20k at the end of march and another 20k on april 8th) and made a just over a grand so far. in 7 months..tax free...
I've had 50k in PB for 2 draws and won.... nothing...
Premium bonds are a daft investment unless you've already maxed out your ISA allowances.
Last edited:
Its more a gamble with the interest.
You'll probably be under the percent return. But you might win big.
They're not really investments and neither are cash ISAs.
It really isn't if you do the maths on your chances of 'winning big' on premium bonds... I'll move 20k from my PB to probably an S&S ISA next april.
Well it is.
If you have terrible luck you'll win no prizes and stay at 20k.
If you're lucky you'll win a million every month.
Its a fairly safe gamble as over time it'll trend a tad under the average return if you're under 50k.
More you're under more you'll be under the headline rate.
Associate
£100 for me this month
Maths fail.. with average luck you can expect 3.9% return on 50k permium bonds, lower with a lower holding...V's a guaranteed 4.8% in a cash ISA ATM.
Unless cash ISA interest rates drop below 3.9%, the numbers just don't add up, unless you have maximum holding, and higher than average luck... now that really is a gamble, https://www.moneysavingexpert.com/savings/premium-bonds/
Well indeed, if you've already maxxed out your ISA allowance for the year, then why not... but if not, you could put money into a cash ISA in addition to S&S (rather than PB) for a much more stable return.
Associate
I've made nearly a grand this year with a fraction of that amount in PB. If you get lucky, it does alright.
I'm not sure what you are saying.
You are gambling with the interest with premium bonds.
That's exactly what premium bonds are.
Playing the lottery with what would be calculated interest in a typical account.
I'm not sure how what I said is a maths fail.
The lower your pb holding. The lower the typical return. And the further from the average luck figure you'll be.
But premium bonds are to risk that interest for the chance to win big.
Soldato
NS&I to cut Premium Bond prize rate to 4% – are they still worth it?
NS&I will cut its Premium Bond prize-fund rate to 4% from 4.15% for the January 2025 draw and beyond. But this rate was already lagging behind interest rates on standard savings accounts – so if you're a bondholder, you may now want to consider moving your cash to an interest-paying account.
www.moneysavingexpert.com
Yeah in February I'm gonna take out whatever I need to max out my isa.
Problem is lower the PB amount the worse the average return right?
If I drop to under 10k, I'll remove the lot for tax year 2025/26
NS&I to cut Premium Bond prize rate to 4% – are they still worth it?
NS&I will cut its Premium Bond prize-fund rate to 4% from 4.15% for the January 2025 draw and beyond. But this rate was already lagging behind interest rates on standard savings accounts – so if you're a bondholder, you may now want to consider moving your cash to an interest-paying account.
Time to bail on PBs I think
Last edited: