Premium Bond Winner ?

Swipe

joshii said:

£0 on a holding of £43,065. These figures are terrible.

Sep 24 - £200
Oct 24 - £0
Nov 24 - £100
Dec 24 - £125
Jan 25 - £100
Feb 25 - £100
Mar 25 - £50
Apr 25 - £650
May 25 - £175

Jun 25 - £150
Jul 25 - £75
Aug 25 - £25
Sep 25 - £0

4.06% tax free is terrible? 

fuzzzzy

Swipe said:

joshii said:

£0 on a holding of £43,065. These figures are terrible.

Sep 24 - £200
Oct 24 - £0
Nov 24 - £100
Dec 24 - £125
Jan 25 - £100
Feb 25 - £100
Mar 25 - £50
Apr 25 - £650
May 25 - £175

Jun 25 - £150
Jul 25 - £75
Aug 25 - £25
Sep 25 - £0

4.06% tax free is terrible? 

They even got £650 in one month. That would have put a smile on my face for at least a few months.

joshii

Swipe said:

joshii said:

£0 on a holding of £43,065. These figures are terrible.

Sep 24 - £200
Oct 24 - £0
Nov 24 - £100
Dec 24 - £125
Jan 25 - £100
Feb 25 - £100
Mar 25 - £50
Apr 25 - £650
May 25 - £175

Jun 25 - £150
Jul 25 - £75
Aug 25 - £25
Sep 25 - £0

4.06% tax free is terrible? 

I should rephrase. The last *three months* have been terrible 😂 Mainly glad to be skating just above average on aggregate

Richmc

I must be Mr Lucky my aggregated average for the last year is 5.5% so 1% over the best instant access accounts, I do have the maximum 50,000 holding.There's hardly a month goes by without a win.

eskbanker

Richmc said:

I must be Mr Lucky my aggregated average for the last year is 5.5% so 1% over the best instant access accounts, I do have the maximum 50,000 holding.There's hardly a month goes by without a win.

With a full holding, there should be nine prize-winning months in each ten on average, but yes, the size of your prizes is above average, even allowing for the headline rate being higher a year ago.

taylornj

Is the time to quit Premium bond coming? Rather than a fair rate, plans have been put forward to increase the limit from a maximum of £50k to an unknown amount, at the same time slash the rate to 2.8%. The Government debt - 10yr gilt rate is at 4.76%, and 30yr over 5.5%. Premium bonds are being seen as an option for cheap government debt rather than the gilt markets.
This is when inflation is running at 4.2%, however RPI is still used for setting the increases for utilities, train tickets increases, and this is running at 5.5%.
The silent thief is inflation at 5.5%, for capital to keep it's value this is the level of return on capital investment required as a minimum not forgetting that any taxes/subsidies, needs to be added on top.
Likely this change will be in the budget, and no telling what other restructuring of premium bonds there could be, like a reduction of the larger prizes, guess it's more doom and gloom, could be see a blanket of just £25 - £1,000 range in prizes.
I'm certainly considering I might have no option but to exit, risk/reward could be to small, and I'm under no obligation to prop up wasteful, reckless Government spending incurring debts, hidden subsidies, stealth taxation, worse taxes not used for the benefit of this country, those grafted hard currently and in the past are the last to benefit. Are we looking at the true death of premium bonds under this government?

Martico

taylornj said:

Is the time to quit Premium bond coming? Rather than a fair rate, plans have been put forward to increase the limit from a maximum of £50k to an unknown amount, at the same time slash the rate to 2.8%. The Government debt - 10yr gilt rate is at 4.76%, and 30yr over 5.5%. Premium bonds are being seen as an option for cheap government debt rather than the gilt markets.
This is when inflation is running at 4.2%, however RPI is still used for setting the increases for utilities, train tickets increases, and this is running at 5.5%.
The silent thief is inflation at 5.5%, for capital to keep it's value this is the level of return on capital investment required as a minimum not forgetting that any taxes/subsidies, needs to be added on top.
Likely this change will be in the budget, and no telling what other restructuring of premium bonds there could be, like a reduction of the larger prizes, guess it's more doom and gloom, could be see a blanket of just £25 - £1,000 range in prizes.
I'm certainly considering I might have no option but to exit, risk/reward could be to small, and I'm under no obligation to prop up wasteful, reckless Government spending incurring debts, hidden subsidies, stealth taxation, worse taxes not used for the benefit of this country, those grafted hard currently and in the past are the last to benefit. Are we looking at the true death of premium bonds under this government?

"plans have been put forward" is doing an awful lot of lifting there

ColdIron

taylornj said:

Rather than a fair rate, plans have been put forward to increase the limit from a maximum of £50k to an unknown amount, at the same time slash the rate to 2.8%.

Do you have a source for this claim?

flaneurs_lobster

taylornj said:

I'm certainly considering I might have no option but to exit, risk/reward could be to small, and I'm under no obligation to prop up wasteful, reckless Government spending incurring debts, hidden subsidies, stealth taxation, worse taxes not used for the benefit of this country, those grafted hard currently and in the past are the last to benefit. Are we looking at the true death of premium bonds under this government?

Is this not just a teeny tiny bit political?

Swipe

ColdIron said:

taylornj said:

Rather than a fair rate, plans have been put forward to increase the limit from a maximum of £50k to an unknown amount, at the same time slash the rate to 2.8%.

Do you have a source for this claim?

It was the subject of an article in the Telegraph on 24th September: https://www.telegraph.co.uk/money/banking/bonds/reeves-cut-premium-bonds-prize-rate-to-raise-1bn/