Premium Bond Winner ?

missmilly

fozziebeartoo wrote: »

Just realised I have held my max holding PB's for a year now.

Won 13 x £25 and 1 x £50 so total of £375.

To work out how much I have won in %, is it:-

£375 / £30000 x 100 = 1.25%

Its an awfully long time since my 'O' level maths days so I would be grateful if someone could put me right?

Thank you!

Spot on and it beats mine which is running at about .5%

fozziebeartoo

Thank you missmilly and fingers crossed you % picks up very soon! :j

missmilly wrote: »

Spot on and it beats mine which is running at about .5%

Mr_K

fozziebeartoo wrote: »

Just realised I have held my max holding PB's for a year now.

Won 13 x £25 and 1 x £50 so total of £375.

To work out how much I have won in %, is it:-

£375 / £30000 x 100 = 1.25%

Its an awfully long time since my 'O' level maths days so I would be grateful if someone could put me right?

Thank you!

1.25% tax free is better than you'll get in an instant access savings account at the moment.

Archi_Bald

Mr_K wrote: »

1.25% tax free is better than you'll get in an instant access savings account at the moment.

PBs do not guarantee any interest. You might receive nothing at all.

There are current accounts as well as regular savings accounts that pay multiples of 1.25% tax free, and for more than £40,000.

Oldbiggles

This month. June.

I had 3 x £25 wins.

Wife had 2 x £25 wins.

We both hold the same amount of bonds.

I used to check the NSI web site each month, but now I wait to see if we get an email. It usually arrives around the 5th or 6th of each month if there are any winnings, although they would probably make contact earlier if it was a Big 'un.

:rotfl:

talexuser

I'm confused over the NSI mail about the 2nd million prize. They say there are even more chances to win now after a sentence about increasing the limit from 30 to 40k.

This is supposed to mean that you personally have more chances than before if you increase your bonds from 30k to 40k?

But if the 2nd million comes out of the same pot for what was small prizes, are there more chances overall for the same individual pot when there are less small prizes?

Zars

It seems that from August there will be two £1 million prizes to be won but the chance for each £1 bond to win a prize will remain 26000:1 (same as before)
So that tells me that the extra million will make no difference to overall probability, apart from marking two people a millionaire every month.

talexuser

I see, so presumably each chance the same as before must be from a pool of lower value prizes than before? ie the second million has been taken from the pot of higher value prizes reducing them to lower value prizes?

Money_Saver_Jen

talexuser wrote: »

I see, so presumably each chance the same as before must be from a pool of lower value prizes than before? ie the second million has been taken from the pot of higher value prizes reducing them to lower value prizes?

I am no expert but my understanding is that the odds of winning a prize will still remain the same as now when the extra one million pound prize comes into play in August. On one of the latest e-mails I have received from NS&I they say there will be 2 x one million prizes plus approx. 1.8 million other prizes in the August draw.


My understanding is that the additional million pound prize is to be funded from the larger prize fund pot because this will be boosted when the people who hold the max holding of £30k increase their holding to the new £40k limit. This means there will be more money available in the prize fund to pay out the extra one million (unless everyone withdraws their money that is !!)


Also don't forget that statistically the more bonds you hold, the greater the overall odds of winning a prize.

Oldbiggles

Archi_Bald wrote: »

PBs do not guarantee any interest. You might receive nothing at all.

There are current accounts as well as regular savings accounts that pay multiples of 1.25% tax free, and for more than £40,000.

So far this year, (January to June) my wife and I are winning 1.8% on PB’s.

:j