Premium Bond interest to DROPS from 1.8% to 1% in April & new £25 prize

shrewsaver

Sandblast wrote: »

I've read this recent announcement concerning the changes in premium bonds, but there is one thing that at least to me is not so clear - & that is how soon after you've purchased your bond is it entered into the prize draw. The announcement says something like " your bond will be entered 2 months after the month you've purchased your bond."

Does that mean for instance that if i buy a bond next week on say the 25th of march it gets entered into the may 1st draw - may being 2 months after march - or the june draw - june being a full 2 months after i've made the purchase..?

Yes, you are right on that point, if you paid a chq in at the post office, or online (say in this instance) towards the end of this month, the first month that those "bonds" would be entered into would be the May draw. It states that you need to have purchased the bonds one clear month before they are entered into the draw.

Hope that answers your query.

MACDONALDO67

Interesting read.

I win quite a few £50 and £100 prizes and the most I have ever won is a £1000. My uncle has PB's and the most he has won I think is a £500.

Is there anyone out there that has actually won more than a £1000 prize on the PB's. I just cannot find anyone??

shrewsaver

MACDONALDO67 wrote: »

Interesting read.

I win quite a few £50 and £100 prizes and the most I have ever won is a £1000. My uncle has PB's and the most he has won I think is a £500.

Is there anyone out there that has actually won more than a £1000 prize on the PB's. I just cannot find anyone??

Yes there is.

Look through this thread and you will find at least one £10k winner.
click this for the other thread

Hungerdunger

kahwilts wrote: »

last month I won £50! This month another £25! how excellent. That beats my interest rates.

Well it depends how you want to look at it. If you'd put your £4,500 into a one year fixed rate savings account at this time last year, you could easily have got over 6% interest on it.

This means that if it matured today, and after allowing for tax to be deducted, you would have received "winnings" of over £220.

squirrelchops

I won £25 in this months draw and had to check as didn't relaise they had a lower amount than £50.

Last month was my first month and won £50 then too!

martynh99

1st Month in the draw April 2009 and won 3 prizes :T

1 * £500
1 * £25
1 * £25

baby_boomer

Premium Bond threads do tend to divide rather predictably.

Many can't understand why others would want to see their capital eroded by inflation in order to finance the government.

Others either don't mind / don't understand capital erosion and just want to have fun.

And some even try to pretend it's a good investment!

martynh99

baby_boomer wrote: »

Premium Bond threads do tend to divide rather predictably.

Many can't understand why others would want to see their capital eroded by inflation in order to finance the government.

Others either don't mind / don't understand capital erosion and just want to have fun.

And some even try to pretend it's a good investment!

Treating mine as a short term investment and it's paying off for me . We sold our house in Feb and plan to buy again later this year so only planning on holding the bonds for a few months so £550 win on £30k holding in the first month is much better than any interest I could have got in any bank acct at the current time.

MACDONALDO67

Between myself and my Mrs we won 3 x £25 prizes for April.

I run a syndicate at work. We all throw £100 into a pot every month and buy a block of premium bonds per person each month. One of the Pools won £25 this month.

nigelF

I've had 30k maximum for a year and a half now and was regularly winning £50 to £100 per month....until this year!

Nothing in Jan, nothing in Feb, nothing in March and wait for it.... YES.... £25 in April - this is pathetic!

Mind you, I was going to take the whole lot out and put it into our Kaupthing Edge account....which I'm still trying to get my money out of.

Maybe I was just born unlucky.

If there was another place I could trust to invest my money at the moment, I'd get the whole lot out of bonds and put it there.