Premium Bond Winner ?

mark1959

I'm lucky and my missus is even luckier, and not all because she's married to me...............
both £20000, 1st draw. I win £25, she wins £225 [2 x £100 + 1 x £25]. :j:beer:

Slinky

http://www.bbc.co.uk/news/business-38893452

Prizes dropping from May

Kim_13

Would rather they scrapped the second million.

Sigh, only put more in at the end of January.

kevin52

Prize fund reduced from 1.25 to 1.15%. Reduction in higher value prizes. Chances of winning remain at 1 in 30,000 each month.

Xenon

Kim_13 wrote: »

Would rather they scrapped the second million.

Sigh, only put more in at the end of January.

100% agree

What is the point of the second million (unless you win it!)

Much better to spread that among the higher prizes

Why can't/aren't they doing that?

greenglide

For the same reason that the national lottery is skewed to pay out large prices as many people are attracted by the large prize prize they never get rather than the chance of winning small prices.

It at the end it is a lottery - just one you get your stake back.

Pincher

http://www.bbc.co.uk/news/business-38893452


NS&I announced that the interest rate for the Direct Isa and for Income Bonds will fall from the current rate of 1% to 0.75% in May.


In November, Chancellor Philip Hammond said that a new savings bond offering a "market-leading" rate of about 2.2% would go on sale through NS&I in the spring.

Anyone over 16 will be able to invest up to £3,000 in the three-year bond. The precise interest rate will be confirmed in the coming weeks.


So, that's alright then.

Eco_Miser

greenglide wrote: »

It at the end it is a lottery - just one you get your stake back.

Except that your stake isn't the £1 you paid per bond, which you do get back - it's the interest on that £1, which goes into to prize pool (and the further interest you could have got elsewhere, which HM Treasury keeps for itself).

adonis10

http://www.telegraph.co.uk/personal-banking/savings/premium-bond-prize-cuts-may-2017-odds-winning/


Wow, if no prizes in 6 years wasn't enough to make me whip out my cash, this article is.


What an enormous rip off.

guppy55

100k total joint holding,

1300 won in year to date,

= 1.3% return

Not great but better than paltry 0.50% offered by most banks