NS&I Premium Bonds Alternatives?

subjecttocontract

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

* But you will have TWO chances of winning a million every month.
* 5.9 million prizes won in March.
* £430 million pounds prize pot for March.

Don't forget......it's a bit of fun.

slinger2

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

Actually it's worse than that. There are about 120 billion PBs in issue. Assume that someone has 50,000 PBs and holds them for a year. The chance of winning a million pound prize is then (roughly) 1 in 120 billion/50,000/12/2 = 1 in 100,000. So you'll win a million pound prize every 100,000 years or so.

poppystar

……And yet two people beat the odds every month🙂

slinger2

poppystar said:

……And yet two people beat the odds every month🙂

It's true. 2 PBs win every month. However 120,000,000,000 PBs don't win.

Albermarle

slinger2 said:

Albermarle said:

Didi62 said:

You still have good chance of winning with the amount of bonds you have. Stick with them you may won a million 

That is a bit unlikely. I forget the exact figure but it is something like if you have the full £50K in PBs, you will on average win a Million once  every 30,000 years.

Actually it's worse than that. There are about 120 billion PBs in issue. Assume that someone has 50,000 PBs and holds them for a year. The chance of winning a million pound prize is then (roughly) 1 in 120 billion/50,000/12/2 = 1 in 100,000. So you'll win a million pound prize every 100,000 years or so.

Yes, I think you are about right.

Which say that with a full holding the chance of winning a Million Pounds in any one month is 1 in 1.29 Million.
So divided by 12 , means it will happen on average about once every 100,000 years.

…And yet two people beat the odds every month🙂

I remember another thread where someone  said as there were supposedly two winners every month, how come neither he or any of his friends and family had never met one, so it was a scam. 

However of course statistically speaking in  a population of 65 Million, it is very unlikely you would know anybody who had won a Million, especially as many would be reluctant to make it public anyway.  

poppystar

slinger2 said:

poppystar said:

……And yet two people beat the odds every month🙂

It's true. 2 PBs win every month. However 120,000,000,000 PBs don't win.

Chance of winning with bonds is still greater than without where it is definitely 0! No one with no bonds will win, two people who have bonds will win. 

HedgehogRulez

Pensions is the right answer 

fireballpaul

skellington said:

I'm looking for some advice on what would be a better return on my investment than NS&I Premium Bonds.

I currently have around £30,000 in Premium Bonds, but with the win rates being cut drastically, I'm starting to question if they're still the best option. I know Premium Bonds are secure, but their returns are unreliable — especially with the recent prize fund rate dropping from 4.15% to 4.0% in January 2025, and another cut to 3.8% planned for April 2025.

I'm now considering alternatives that could maximize my money's return without taking on too much risk. Ideally, I'd like something relatively safe but with better, more consistent returns.

What should I be looking at with this amount of money? Are there any good savings accounts, fixed-rate bonds, or other investment options that people would recommend?

Appreciate any advice!

Both my parents have £50k each in them so £100k overall, they get a some money every month but there are months that one of them gets nothing.  Usually see about £150 on average per month with the occational £500 bond thrown in .. like it's happened twice in the last 10 years or something.     

still the best chance to win big as the Lottery has longer adds and you lose your capital.  

Albermarle

fireballpaul said:

skellington said:

I'm looking for some advice on what would be a better return on my investment than NS&I Premium Bonds.

I currently have around £30,000 in Premium Bonds, but with the win rates being cut drastically, I'm starting to question if they're still the best option. I know Premium Bonds are secure, but their returns are unreliable — especially with the recent prize fund rate dropping from 4.15% to 4.0% in January 2025, and another cut to 3.8% planned for April 2025.

I'm now considering alternatives that could maximize my money's return without taking on too much risk. Ideally, I'd like something relatively safe but with better, more consistent returns.

What should I be looking at with this amount of money? Are there any good savings accounts, fixed-rate bonds, or other investment options that people would recommend?

Appreciate any advice!

Both my parents have £50k each in them so £100k overall, they get a some money every month but there are months that one of them gets nothing.  Usually see about £150 on average per month with the occational £500 bond thrown in .. like it's happened twice in the last 10 years or something.     

still the best chance to win big as the Lottery has longer adds and you lose your capital.  

Although still a pretty miniscule chance.
Someone with the full £50K can expect to win a Million, once every 100,000 years ( or thereabouts) 

kinger101

The  only real use for them as I see it is for higher rate tax payers who have some funds they need to be really secure who have already exhausted the ISA.

The return is better than taxed interest and does not count toward adjusted net earnings.

If I wanted to be a dreamer, then I'd stick my money elsewhere and use some of the interest to buy my self a Euromillions ticket for a similarly  remote  chance of a better dream.