Premium Bond Winner ?

GalacticaActual · 2 April 2022 at 7:37AM

£25 winnings this month from a batch of £2,000 bonds purchased in 2020.

That batch has now won 4 prizes totalling £100

masonic · 2 April 2022 at 8:09AM

£525 on a (nearly) full holding. I'm glad I deferred my large withdrawal until after the draw, this takes my average rate over the past year up to 2.2%. Will carry on at 1.5% over at Chase.

wiseonesomeofthetime · 2 April 2022 at 8:20AM

2x £25 for me, on a full holding.

That's a financial year return of 0.95%, which is around the estimated rate for people of average luck

With Chase now at 1.50%, even after deduction of tax, 1.20% is higher than I have achieved in Premium Bonds in the last three years.

May be time to ditch some. I only lose that minuscule chance of winning the million anyway.

gary83 · 2 April 2022 at 8:25AM

Zero for me on a full holding, reducing mine now as planed. after 16 draws achieved 1.73%, so it did better than it would have done in the bank.

chucknorris · 2 April 2022 at 8:54AM

Does anyone know of any plans or rumours that NSI may have to consider increasing the prize fund from the current 1%?

masonic · 2 April 2022 at 9:23AM

chucknorris said:

Does anyone know of any plans or rumours that NSI may have to consider increasing the prize fund from the current 1%?

I doubt such a change would happen in the short term. Historically, returns have sat a little below the best instant access accounts minus basic rate tax, so it seems to be positioned about right at the moment. They have tended to be used by HR taxpayers and those with eyes on the big prizes predominantly. PBs came into their own because of successive cuts to savings account rates and inertia from NS&I to keep changing the payout accordingly. Now we are in a sharp upward trend, I could easily see it taking a long time for NS&I to respond. Green Savings bonds are still 1.3% for a 3 year fix, so they'll no doubt not want money destined there to be mopped up by PBs.