Premium Bond Winner ?

Tye_Twad

the interest rate is now down to 1.80%..:mad:

even less chance of a prize now

altocumulus

The number of Premium Bond prizes is being reduced following the recent cut in the Bank rate to 3%.
National Savings & Investments (NS&I) said the total Premium Bond prize payout would drop from £87.8m this month to about £57m in January 2009.
The number of Premium Bond prizes will fall from 1.54 million to 1.1 million.
There will still be two £1m jackpot prizes a month, but the overall odds of winning a prize have risen from 24,000-to-1 to 36,000-to-1 per £1 bond.
Someone who had invested the maximum of £30,000 in Premium Bonds will now win, on average, 10 prizes a year, NS&I says.

topSaver_4

Hi,

I have the full £30,000 invested and was wining on average £100 pounds a month, but I recently noticed that the interest rate for the price fund has been cut in half to 1.8%.

I am going to remove my money completely, I wonder if any one else is planning to do this.

grebbo

topSaver wrote: »

Hi,

I have the full £30,000 invested and was wining on average £100 pounds a month, but I recently noticed that the interest rate for the price fund has been cut in half to 1.8%.

I am going to remove my money completely, I wonder if any one else is planning to do this.

Where are you going to put it?

Let's face it: no savings account will keep pace with inflation if you're a higher rate tax payer (except ISA's).

If you've maxed your ISA's (both cash and equity) and got property I can't see any other areas I'd invest right now.

Pointless just having loads of Sterling that's rapidly losing value.

I'd rather earn tuppence interest from my PB's and have the chance of some huge up-side than earn tuppance interest in a savings account.

MILLWALLFC

I've just taken 30k out also going into Birmingham Midshires at 6% it was 6.5% but its just been reduced.

Magnolia

I agree with Grebbo - what is the point of putting your money somewhere 'safe' and then watch it making pennies - I like the thrill of the chance of a win once per month and find myself getting quite excited as the next month arrives.

Where is the fun in a bank statement saying you have got the same meger amount this month as last month

There is precious little to look forward to in this recession hit period so why make it more miserable;)

Lizzieanne

chopperharris wrote: »

Thing is i checked the site on the 1st and my holders number showed not this time.

Strange, I checked my holder's number on the site on 4th November and it said I hadn't won, but I received 2 x £50 cheques last week! Now the winnings are showing on the website.

I'm not complaining, though!

altocumulus

Lizzieanne wrote: »

Strange, I checked my holder's number on the site on 4th November and it said I hadn't won, but I received 2 x £50 cheques last week! Now the winnings are showing on the website.

I'm not complaining, though!

I checked my holders number(s) too, it also said I hadn't won - and it was right !! :rotfl::rotfl:

Looking forward to this week.... :rolleyes:

M3_Sussex

Lizzieanne wrote: »

Strange, I checked my holder's number on the site on 4th November and it said I hadn't won, but I received 2 x £50 cheques last week! Now the winnings are showing on the website.

I'm not complaining, though!

The winning numbers are scheduled to show on the website three working days after the draw.

"We normally update information on prize-winning Bonds by the third working day of each month."

This would have been the 5th November as the 1st was a Saturday. This may explain why they weren't shown on the 4th.

meggsy

Lizzieanne wrote: »

Strange, I checked my holder's number on the site on 4th November and it said I hadn't won, but I received 2 x £50 cheques last week! Now the winnings are showing on the website.

I'm not complaining, though!

Probably because the 1st November was a Saturday so the draw would have taken place on the 3rd. When I checked on the 5th or 6th I had won £50.

HTH, good luck tomorrow everyone