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[Finance] Premium Bonds - prize pool increased again - you ever have any luck?



birthofanorange

birthofanorange

Well-known member
NSC Patron
Aug 31, 2011
6,500
David Gilmour's armpit
Petunia said:
In the last nine months I have won precisely £200 in total. There was one month when I had just had half the holding as I cashed out half and bought new ones. Unfortunately it hasn’t improved my return.
Seriously thinking about taking it all out😏
Click to expand...
I'm really not convinced that cashing them out and buying new ones makes any difference, tbh. I'm sure that someone may be able to confirm or deny that.
Besides, you also miss out on a draw, as they are entered into the following month.
I'll stick with it, as it gives us a 'reasonable' return, with the added spice of a potential large win.....or nothing....as was the case this month. :)
 




Clive Walker

Clive Walker

Stand Or Fall
Jul 5, 2011
3,590
Brighton
birthofanorange said:
I'm really not convinced that cashing them out and buying new ones makes any difference, tbh. I'm sure that someone may be able to confirm or deny that.
Besides, you also miss out on a draw, as they are entered into the following month.
I'll stick with it, as it gives us a 'reasonable' return, with the added spice of a potential large win.....or nothing....as was the case this month. :)
Click to expand...
1725369231670.png
 












seagullwedgee

seagullwedgee

Well-known member
Aug 9, 2005
3,068
We’ve enjoyed slightly better than average luck, over the last 12 months’ draws. In total we’ve won £4,525 on our joint maximum holding of £100k. So that’s an annual return rate of 4.525%. Tax free of course.
 














J

jabba

Well-known member
Jul 15, 2009
1,342
York
never too late. a winner 64 years on with a single bond holding! PS not me just copied from winners list
I wonder what the story was? A god-parent buying a child one maybe? Hope ERNIE knows who it was. A lovely surprise for somebody.
Prize valueWinning BondHoldingAreaBond ValuePurchased
£25,0002AZ543082£1Staffordshire£1Apr-60
 
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HHGull

HHGull

BZ fan club
Dec 29, 2011
734
jabba said:
never too late. a winner 64 years on with a single bond holding! PS not me just copied from winners list
I wonder what the story was? A god-parent buying a child one maybe? Hope ERNIE knows who it was. A lovely surprise for somebody.
Prize valueWinning BondHoldingAreaBond ValuePurchased
£25,0002AZ543082£1Staffordshire£1Apr-60
Click to expand...
There’s hope for us all!
 


Petunia

Petunia

Living the dream
NSC Patron
May 8, 2013
2,309
Downunder
birthofanorange said:
I'm really not convinced that cashing them out and buying new ones makes any difference, tbh. I'm sure that someone may be able to confirm or deny that.
Besides, you also miss out on a draw, as they are entered into the following month.
I'll stick with it, as it gives us a 'reasonable' return, with the added spice of a potential large win.....or nothing....as was the case this month. :)
Click to expand...
I agree but after 4 consecutive months of zero return I was happy to chance it!
 






S

Shropshire Seagull

Well-known member
Nov 5, 2004
8,788
Telford
birthofanorange said:
I'm really not convinced that cashing them out and buying new ones makes any difference, tbh. I'm sure that someone may be able to confirm or deny that.
Besides, you also miss out on a draw, as they are entered into the following month.
I'll stick with it, as it gives us a 'reasonable' return, with the added spice of a potential large win.....or nothing....as was the case this month. :)
Click to expand...
Maybe cash-out half and then reinvest. Yes you will miss a draw for one month, but after that you will be able to tell us all which half your winnings are now coming from, the new or the original half.
 




Mustafa II

Mustafa II

Well-known member
Oct 14, 2022
1,821
Hove
Shropshire Seagull said:
For those debating whether they might get a better return elsewhere, this article might be helpful.
Click to expand...

The article is pretty inconclusive.

If you are to be clinically sensible with your money - you should:

- pay off debts first
- find a high rate savings account
- maximise yearly ISA allowance (savings & stocks & shares are separate)

...and only once you near your tax free savings allowance do Premium Bonds become a sensible option. That's £1,000 interest for most people, £500 for high earners.

BUT

Premium Bonds are fun and you MIGHT get lucky. This thread is interesting as there are a lot of very lucky and very unlucky people demonstrated, which is what you would expect with a lottery such as this.

The amount I've saved on lottery tickets, coupled with above-average luck, has made it worthwhile for me... but there are plenty of people with £50k in there, that could have made triple what they've won in the same time through savings accounts, investments and ISAs.

Essentially it's a very safe gamble, that only becomes a sensible option if you have utilised all your other tax-free options.
 






H

HAILSHAM SEAGULL

Well-known member
Nov 9, 2009
10,359
Another blank for me, three months on the trot, luckily Mrs HS won £300 this month
 


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