Premium Bonds - If you post to say how much you've won, please also say how much you have invested.

silvagti

silvagti

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Premium bonds can be good but IMO they only really make sense if your a higher rate tax payer. Otherwise there are better, more consistent, rates of return to be had elsewhere.

They are a bit of fun at least though checking the monthly prize draw!
 
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DJMK4

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silvagti said:
Premium bonds can be good but IMO they only really make sense if your a higher rate tax payer. Otherwise there are better, more consistent, rates of return to be had elsewhere.

They are a bit of fun at least though checking the monthly prize draw!
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I didnt find they were really worth it until you had atleast 25-30k in them, when i had less than that i never had any winnings back in the day. I would say maybe the odd £25 but few and far between,

Yes if your a higher rate tax payer its not a bad place to store money, and if you have atleast 30k in the winnings are frequent and return more.

But as im maxed , any additional funds are being sent to the ISA.
 
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silvagti

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DJMK4 said:
Yes if your a higher rate tax payer its not a bad place to store money, and if you have atleast 30k in the winnings are frequent.
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That’s the key IMO. You need to be putting towards the max amount, to provide a near certain chance of winning something, before you can view them as an ‘investment’.

Still, at least other than inflation eroding their value over time, they’re a “safe” form of gambling given you can always get your money back!
 
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DJMK4

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silvagti said:
That’s the key IMO. You need to be putting towards the max amount, to provide a near certain chance of winning something, before you can view them as an ‘investment’.
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Yep


Initially i set up premium bonds to stop me having an instant access to money, as i found it hard to save, i found it much easier but having a bit of a 2-3 day wait for release of funds :D it stopped me impulse spending. This was many moons ago! - Later on in the years i then used premium bonds to help save for a house deposit (with that combined with a help to buy ISA).

Im not so much like that any more. When i signed up i had no idea about the types of winnings, what the frequency was, how much you would need to start seeing winnings etc. Returns or winnings was not the key or driver for me signing up.
 
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TonyTurbo78

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I've had £35 in mine since 1957, started by my nan way way back. Only ever won once which was around 1k back around 20 years ago. Thought I'd open an account 2 months ago to check if I'd won anymore since, sadly not. Decided to put in another 40k and mum started a seperate one max holding so almost 50k. Our first draw was Jan 2nd, she won nothing and I won £25 and £50 off mine. Pretty naff really, if you're lucky then great, if not it's better off in a high interest saving account I think. We are going to give it a year and see what happens.
 
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~Mike~

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NS&I is reducing the prize fund rate for Premium Bonds from 4.65% to 4.40% from the March 2024 draw.
The odds of any £1 Bond number winning a prize will remain the same at 21,000 to 1.

nsandi-corporate.com

PREMIUM BONDS PRIZE FUND RATE REDUCED FROM MARCH 2024 DRAW | NS&I Corporate Site

New 4.40% prize fund rate for Premium Bonds from March 2024 drawOdds remain the same at 21,000 to 1 for each £1 BondNS&I required to strike a balance between the interests of savers, taxpayers and the broader financial services sectorNS&I is reducing the prize fund rate for Premium Bonds from...
nsandi-corporate.com nsandi-corporate.com
 

lee1101

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On £50k.

October - £100
November - £250
December - £50
January - £450

So over 4 months not far off what I would get if it was in a normal savings account but no tax to worry about.
 
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Derek W

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arty said:
Just won £1000 on January's draw, £50k invested - pleased with that! :D

I also originally won £350 on December's draw, but then about halfway through the month I got an extra £25 from NS&I deposited in my account. I was away at the time, but came back yesterday to a letter saying that a £25 prize had been re-allocated to me due to the original winner being 'ineligible'. Does anyone know what that means? :confused:
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I got a letter today saying the same thing with 25quid paid into my bank account from a couple of days back. The date of the original draw was July 22 so I'm playing the long game here with stuff I didn't know I'd won :cry:
 

slinxy

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Derek W said:
I got a letter today saying the same thing with 25quid paid into my bank account from a couple of days back. The date of the original draw was July 22 so I'm playing the long game here with stuff I didn't know I'd won :cry:
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You receive letters? How quaint lol

I’m refreshing my mailbox and the website like if it was an olympic sport and I’m aiming for gold on it the day of the draw.
 

Derek W

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slinxy said:
You receive letters? How quaint lol

I’m refreshing my mailbox and the website like if it was an olympic sport and I’m aiming for gold on it the day of the draw.
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Aye I think it was cos the bond couldn't be automatically reinvested so they paid it in the bank account instead. I'm glad they sent it though cos I thought it was a refund on my BT account and not a premium bond.
 

413x

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Pigeon_Killer said:
This website is legitimately the worst I’ve ever used. Login on my phone, click on account, ‘I’m sorry you’ve been logged out for hitting the back button’. No, I didn’t!
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Yep. It's a right pain.
Use the trusted bank account thing.. Go on to FD. Approve deposit..

Failed.

Nope. It succeeded. Happens every time. First time I was a bit.. Concerned. But an hour later I got confirmation from nsi they had my money.
 
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