Premium Bonds and your expereince

sweetsand

Hello
I am aware that P Bonds pay out a percentage in prize funds and ATM its about 1%

Therefore, if you have 10k in their, if all goes to the law of averages you should get  100 pounds in prizes.
However, not everyone waits to the end of the month to take money out or put in so they lose a months chances.
Then you get those that get below average as well as above.

I hope I've not confused you so far

Question - anyone have or knows of anyone with max holding or max x 2 holding ie 100k and they regularly win over the 1k per 12 months ie law of averages in the higher figures favour.
I am aware people with less than 100 have won big prizes.
I'm also aware the 40% taxpayers go for P Bonds as our son does as they pay 40% on anything over 500 in interest.

I'm also aware of the 1% paid on the instant account by NS&!


Many thanks.

Kendall80

My experience. I have 17k in there and not won anything for 4 months. However, I did win 5x25 the month before that (March?). In all - i'm probably running at the expected rate of return over the past 2 years.

strawb_shortcake

I have the max and had £575 in 11 months, fingers are crossed for a good result in September.
My friend and her husband has 2 x £40k something started with £40k and reinvested their wins. They've had a few months with nothing compared with my 1 month no win. 
Best month was 5 x £25. 
But it's all down to chance, I'm sure I'll have better or worse luck in future years. 
My winnings I use to top up my regular saver which pays 2% for a little boost.

JGB1955

We have the full £100K and have averaged more than 1.2% over the past few years - tax free.

colsten

There's already a Premium Bond thread running to 573 pages 

https://forums.moneysavingexpert.com/discussion/comment/77456862

Thrugelmir

Given the low rate of interest available on instant savings. I'm happy to speculate. Any wins (only ever had £25) are automatically reinvested. 

wizzards

Just use the nice calculator on Martin's nice site.   Its probably one of the best calculators I have seen.  The results may seem surprising.  In the current climate its a good thing to try in my view if you have cash loafing about looking for a home.
https://www.moneysavingexpert.com/savings/premium-bonds-calculator/
There is an element of chance and this can be calculated.  That said you more likely to get a return than lottery tickets and you still keep your £2

sweetsand

Thank you all - answers that I was seeking came a lot quicker than i anticipated.
As you guys know it is chance and you could get zero over the year but my guess and some have 
confirmed this that you may even get up to 2% with the hope of the bigger prizes being the real
catch

good luck all but I hope we get the one mill next month and you guys after us, lol.

Thanks, appreciated the very helpful posts.

sweetsand

colsten said:

There's already a Premium Bond thread running to 573 pages 

https://forums.moneysavingexpert.com/discussion/comment/77456862

Sorry about that but I did try to find. This thread gave me the answers I was looking for very quickly and can be merged with the main one if MSE feels that would be helpful.
About the earlier post us winning the one mill and you guys after - there are 2, 1 mill prizes i think, so one of you guy can also take one of the one mill prizes

6022tivo

Have had 2 x £1000 wins this year. 2020 has been so good! 
I think it takes my 12 month running interest to about 4% which is very lucky/ 

talexuser

I have the majority of rainy day cash in premium bonds. My holding was 5K for many years and was gradually increased up to max a couple of years ago. At the same time I put the max in the other halfs' name. At first she seemed to get more prizes than me, which kind of reinforced my opinion that whenever I topped up I got a glut of prizes. We know that each bond has an equal chance, and since then I have caught up. In 24 months I have won £1550 (max single ever was £100) and she has won £1400, which averages around 1.5% between the two of us which must be slightly on the lucky side so far.