Buying premium bonds

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I have a fair lump sum in a 123 account i am thinking of transfering most into premium bonds. Isit best to buy them in stages or in bulk. Cheers
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  • ColdIron
    ColdIron Posts: 9,163 Forumite
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    You have to be in it to win it
  • SailorSam
    SailorSam Posts: 22,754 Forumite
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    Can't see any advantage in buying in stages. You may as buy all in one go.

    http://www.moneysavingexpert.com/savings/premium-bonds-calculator/
    Liverpool is one of the wonders of Britain,
    What it may grow to in time, I know not what.

    Daniel Defoe: 1725.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    It's best to buy them one at a time, every five years,so that your money is in the meantime somewhere else it will get better than a dismal rate of return.
  • LA.Nyx
    LA.Nyx Posts: 11 Forumite
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    I don't think it matters...I buy 100 every month and keep the rest of my savings elsewhere, simply because I divide my savings in "pots" depending on what I am saving for...There used to be loads of theories about higher chances if you had "new" bonds but I think that there are many more new bonds than old...Therefore it may seem like new bonds have higher chances which is not correct.
  • Pincher
    Pincher Posts: 6,552 Forumite
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    I like contiguous.

    If you had a nice big country, like Britain, plus an odd piece of Northern Ireland, it's just annoying, not to mention some admin anomalies.

    Alas, that's what I have. I should have sold that £1k and £2k chunk, and bought £50k afresh.
  • teddysmum
    teddysmum Posts: 9,475 Forumite
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    If you have exhausted the good interest sources elsewhere, you may as well buy in one go . You can withdraw easily, should you find somewhere else with a good offer.
  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    Makes no difference. The winning numbers are chosen at random
  • TallGirl
    TallGirl Posts: 5,592 Forumite
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    I've just bought £50k worth in one go really easy signed up Boxing Day by the 28/12 I had my bonds ready for the February draw. No hassle no need to send any ID in.
    Save £12k in 24 No 50
    PB Win 21 £225, 22 £275, 23 £900, Balance Mar  £30,850 + £12K added to pension) (Wins 24 Jan £200 Feb £150 Mar £75 Apr £125 May £0) 
    Plan to move to Denmark for FIRE by 2028 “May your decisions reflect your hopes not your fears”
    New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest

  • polymaff
    polymaff Posts: 3,905 Forumite
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    Drips or blocks - it is up to you - but buy them on the last day of the month.
  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    polymaff wrote: »
    Drips or blocks - it is up to you - but buy them on the last day of the month.

    Forgot to mention this, it's because the bonds do not enter the draw till one calendar month has passed, so buying on 1st or 31st of Jan makes no difference the bonds do not become eligible till March.

    Many years ago it used to be three calendar months. fj
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