Cashed out

Pescara

Hello all, just wanted to say how pleased I am that I cashed out my £50,000 premium bonds, I am now receiving approximately £200/month on a 1 year fixed rate bond which is considerably more than I was getting with "ernie" When I first invested into the PB in 2017 the interest rates were around1-1.5% and even at that low rate I was reguarly winning £75 per month, since then the PB rates shot up to over 4% but somehow that is when the winnings ended? so in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

elsien

Premium Bonds UK - are they worth buying? - MoneySavingExpert

Whether it's now value for money is a completely different debates as to some vague unsubstantiated theories about where the money is really going.
I have 5K in there. I go months without winning anything, which at odds of  1 in 1,542,377 doesn't come as a huge surprise.  Then I will have a couple of months where I get £100.
It's a gamble, not guaranteed. That's the point of it. 

eskbanker

Pescara said:

in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

So because you don't understand how randomness works, it must be a conspiracy?

boingy

Pescara said:

Hello all, just wanted to say how pleased I am that I cashed out my £50,000 premium bonds, I am now receiving approximately £200/month on a 1 year fixed rate bond which is considerably more than I was getting with "ernie" When I first invested into the PB in 2017 the interest rates were around1-1.5% and even at that low rate I was reguarly winning £75 per month, since then the PB rates shot up to over 4% but somehow that is when the winnings ended? so in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

My wife sends her apologies. Her approx 15K holding has hit a purple patch so far this year. Always winning something with one month at £250 and one at £750. So nothing underhand, just RNG.

Have you allowed for tax on your fixed bond earnings?

dunstonh

I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

Sales of tin foil are on the up.

booneruk

Pescara said:

Hello all, just wanted to say how pleased I am that I cashed out my £50,000 premium bonds, I am now receiving approximately £200/month on a 1 year fixed rate bond which is considerably more than I was getting with "ernie" When I first invested into the PB in 2017 the interest rates were around1-1.5% and even at that low rate I was reguarly winning £75 per month, since then the PB rates shot up to over 4% but somehow that is when the winnings ended? so in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

Well done, very happy for you!

After 2 zilches at the start of the year, I netted £1100 in the March draw. That's over twice my nil rate savings allowance - consider me happy.

Luck and probability, hey.

400ixl

Didn't realise I was part of a conspiracy.

For the last 4 years (as long as I have had them) my premium bonds have paid out more each year than I could get in a top savings account when I consider I would pay 40% tax on it.

That run could end a any time, but so far its been good.

Wheres_My_Cashback

Click bait thread !

Stubod

Pescara said:

Hello all, just wanted to say how pleased I am that I cashed out my £50,000 premium bonds, I am now receiving approximately £200/month on a 1 year fixed rate bond which is considerably more than I was getting with "ernie" When I first invested into the PB in 2017 the interest rates were around1-1.5% and even at that low rate I was reguarly winning £75 per month, since then the PB rates shot up to over 4% but somehow that is when the winnings ended? so in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

...I think it was a full moon last night...although I may have been abducted by aliens...??

coyrls

Pescara said:

Hello all, just wanted to say how pleased I am that I cashed out my £50,000 premium bonds, I am now receiving approximately £200/month on a 1 year fixed rate bond which is considerably more than I was getting with "ernie" When I first invested into the PB in 2017 the interest rates were around1-1.5% and even at that low rate I was reguarly winning £75 per month, since then the PB rates shot up to over 4% but somehow that is when the winnings ended? so in February after 3 zilches on the trot and mediocre "wins" prior to that I pulled the money out concluding that there is probably something underhand going on (who actually knows if the winning declared by NS&I are indeed a reality, just too many losers to be a coinidence in my humble opinion)

How many losers is too many losers in your opinion and where did you get your data for the number of losers?

slinger2

From what I remember there's a roughly 10% chance of not winning if you hold £50k. So three in a row is unlikely (1000 to 1). However given that there are over a million folk with the maximum holding, there's a 1000 every month in the same boat as you were (3 zilches on the trot). And I suppose there's 1 unlucky person whose gone 6 months without winning.