We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Premium Bonds - £50k each?

Options
2

Comments

  • ranciduk said:
    What is the reasonable amount roughly?! If you don’t mind me being a nosey sod :)
    Roughly £425 over 5 draws - perhaps beginners luck :-)  
    I have just been on hold for 30 minutes trying transfer and have just got cut off arrghhh

  • ranciduk
    ranciduk Posts: 728 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Wow
    not bad at all!
  • Stubod
    Stubod Posts: 2,582 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    We are maxed out and over the last few years we have pretty much had the published nominal interest rate which means we normally get something every month. Only ever had two £500's, all the rest are made up of the usual £25's.
    .."It's everybody's fault but mine...."
  • I also hold the maximum and in the last 11 months have won £500 overall.
    As I pay higher rate tax, that's a decent return on cash.
  • doe808
    doe808 Posts: 452 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    I know someone that won £25k in the last year. Cash was only being parked for a few months before a house purchase.
    Total - £340.00

    wins : £7.50 Virgin Vouchers, Nikon Coolpixs S550 x 2, I-Tunes Vouchers, £5 Esprit Voucher, Big Snap 2 (x2), Alaska Seafood book
  • I've got the max, had £650 in the first 12 months, 2 months into second year and only £25. I've never had more than a £25 prize.

    With the person that knows someone that has 6 maxed accounts in others names, a big win might cause some issues if it goes into another person's account, nothing to stop them keeping it is there? Also what sort of due diligence do NS&I do when paying out, especially now that it's into nominated accounts, if 6 holders prizes all to same nominated account that should be noted surely?
    Make £2023 in 2023 (#36) £3479.30/£2023

    Make £2024 in 2024...
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    VXman said:
    Never really 'got' premium bonds. Always seemed to me.to be better to.save in a interest bearing account than trust luck. However, given the level of interest rates avaliab!e now it.seems more understandable. Personally I'd still prefer to put 100K  in a.reasonably safe investment fund.

    I had a friend with 6 accounts maxed.out (using other people's names) and always raged each month about how.much she won. What she never did was work out what the equivalent interest was. It would be interesting to know if she really did any better than a 1% savings account.
    investment funds are not suitable for those that want quick access to money. PB seems a reasonable strategy to park an emergency fund, rather than low rate interest rate accounts. 

    Imagine your investment drops 20% and you need some money now for a new boiler, your already on a loser. 

    Investments should be for 5-10 years. not adhoc. Unless your short selling, in which case good luck
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • gunjin
    gunjin Posts: 65 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    I had completely forgot that I had been given a gift of £3 in paper PBs when I was a young child in the 1970s. On converting the paper into electronic form I discovered that my £3 had appreciated over the intervening decades to...£3. In real terms that represents a loss of some 80% in value. Yes, I know the amount is tiny and this means nothing. Just thought it was interesting.
  • Stubod
    Stubod Posts: 2,582 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    ...IMHO having "small" amounts in PB's is a bit if a waste of time as the odds are you will not "win" anything and obviously over time you will lose money to inflation.
    .."It's everybody's fault but mine...."
  • Frogletina
    Frogletina Posts: 3,914 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 23 November 2020 at 2:38PM
    gunjin said:
    I had completely forgot that I had been given a gift of £3 in paper PBs when I was a young child in the 1970s. On converting the paper into electronic form I discovered that my £3 had appreciated over the intervening decades to...£3. In real terms that represents a loss of some 80% in value. Yes, I know the amount is tiny and this means nothing. Just thought it was interesting.
    I've just checked 2 premium bonds from 1958. Still worth a pound each, and no prizes. That would have been worth a lot of money then. My weekly wage in 1968 was £4 4s 1p.
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first
    SPC 8 £1567.31 SPC 9 £1014.64 SPC 10 # £1164.13 SPC 11 £1598.15 SPC 12 # £994.67 SPC 13 £962.54 SPC 14 £1154.79 SPC15 £715.38 SPC16 £1071.81⭐⭐⭐⭐⭐⭐⭐⭐⭐Declutter thread - ⭐⭐🏅
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.