Associate
#752 won 5k
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
Soldato
Define "proper" money.
Just a few posts up from yours someone won £5,000 on a £25,000 pot and I recall someone won £10,000 a couple of months ago
Soldato
Yeah 5k upwards is proper money. £25 is small change. I guess anyone who hasn't won the euromillions won't be topping our resident Set For Life 10k a month winner 
Can someone tell me how eligibility for prizes works.
Should be coming into 4k of cash this month and adding about 1k-2k a month after and was wondering how prizes work.
I'm guessing you have to have money in a set amount of time before prizes? As in you can't pay in day before and be in the draw?
Considering premium bonds due to short term nature of this account (6 - 9 months). Hope to have 15k in after 9 months
Should be coming into 4k of cash this month and adding about 1k-2k a month after and was wondering how prizes work.
I'm guessing you have to have money in a set amount of time before prizes? As in you can't pay in day before and be in the draw?
Considering premium bonds due to short term nature of this account (6 - 9 months). Hope to have 15k in after 9 months
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Soldato
Anything invested month 1 is ineligable until month 3
So pay in last day of say Jan and you will be in the draw start of March
Apart from reinvested winnings, they are eligible immediately ie next draw
Oh. Not sure if this account is right in that case. Assumed it was a 1 month lag.
Maybe easy access is best.
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Soldato
Well its a 1 month lag if you put in last day of the month
Its almost 2 months if you put in start of the month
Its a monthly draw so...
I used to pay in last day of the month, having had it in savings for however long was between whenfunds were ready to send and that last day
You can withdraw anytime, but obviously ideally you do just after a draw
I'll work it out. See if it's worth bothering. I expect interest on 6-9 months of 7-8k isn't much. And whether it's worth the gamble on PBs.
7-8k as It'll end at 15k but drip feeding. So easier to half the total.
Expect I'd get 5pc at best easy access isa.
5pc on 7k for 6-9 months that's about 150ish? (rough in head figures)
Probably doesn't matter either way really
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Soldato
Probably better to split. Early on if you fancy PBs then send the money there so they see a few draws.
Once your within say 3-4 months of your end, then just leave that in a savings account. The impact of the time gap is significant on short term savings with PBs.
They arent suposed to be short term
Yeah was thinking that.
If I wasn't so close to the tax threshold I'd put it in an easy access non isa. But having to do SA being over that is more hassle than its worth.
I'd rather stick to isa/PB
Soldato
From the September draw, Premium Bonds prize fund rate is increasing to 4.65% & the odds are improving to 21,000 to 1 from 22,000 to 1
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Associate
April 575
May 50
June 0
July 250
50k invested
May 50
June 0
July 250
50k invested
Soldato
I like the fact that at current rates they are pushing the weight behind £50 and £100
If it goes up much more hopefully they just ditch the £25s completely
Not so good for people with smaller holdings as will increase the risk of variability from the expected return of x% x their holding. But it is what it is.
If it goes up much more hopefully they just ditch the £25s completely
Not so good for people with smaller holdings as will increase the risk of variability from the expected return of x% x their holding. But it is what it is.
Soldato
How many bonds are in each draw
Soldato
According to the NS&I annual report as of 31 March 2023 there was £123,266,638,000 invested in premium bonds.
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Soldato
470827650 x 12 would be annual prize fund assuming no change in invested = 5,649,931,800
Above / 4.65% = £121,504,000,000 approx
Above / 4.65% = £121,504,000,000 approx
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I don't have any PB but reading this thread has me interested.
All my extra income I'm using to pay off a few outstanding debts (no interest), but I could easily throw £500 or something towards PB just 'to be in it' and leave it there. Or is it pointless having such a small amount as I know the chance if actually winning anything would be soooo low?
All my extra income I'm using to pay off a few outstanding debts (no interest), but I could easily throw £500 or something towards PB just 'to be in it' and leave it there. Or is it pointless having such a small amount as I know the chance if actually winning anything would be soooo low?
Soldato
Chance of winning is awful with low balances, you're better off with an isa.
Soldato
If you'd invested that 5quid in the stock market in 1975 I reckon by now you'd be a millionaire
