Premium Bond Winner ?

eskbanker

grahamgoo said:

I wonder if the prize fund will increase soon, still no movement after several base rate rises :-(

The PB prize rate isn't correlated with the BoE base rate and is set according to NS&I's desire (or lack thereof) to attract additional funds, based on their net financing target:

https://nsandi-corporate.com/news-research/news/nsi-provisional-q3-2021-22-results-and-2022-23-net-financing-target

jimexbox

Zuzi said:

I have 35K in PBs, started in February, and this month as well as last I won £25. Better than nothing, and considering this is tax free I think I will stay for a while or even increase the amount of bonds I have.

I've been quite ignorant and only yesterday - thanks to a few threads here - realised that a) I am a higher rate taxpayer b) I will very likely go over my tax-free savings interest allowance soon, so I will need to reconsider how and where I save my money. I originally wanted to try PBs for about 6 months and then move the money elsewhere, but it looks like I might stay longer.

@davidr1964 Congratulations on your win, that's amazing! 

If you have a partner, you could always use their PSA. Obviously the saving would have to be in their name. 

Ducktard

I was thinking of having a punt on PB’s. Could the wife and I each open an account separately and invest £50K each?

cymruchris

Ducktard said:

I was thinking of having a punt on PB’s. Could the wife and I each open an account separately and invest £50K each?

Yes.... 

annie42

I invested 47K last December and a further 3K last month. I’ve won £175 this month, £175 last month. £50 in March, £25 in January and £25 in February. It seems I should consider myself lucky with a total of £450 in a five month period. 

Ducktard

The new Chase saver is 1.5% AER and paid monthly. If I invest £226K does that mean I will earn £280/month? 

westv

eskbanker said:

grahamgoo said:

I wonder if the prize fund will increase soon, still no movement after several base rate rises :-(

The PB prize rate isn't correlated with the BoE base rate and is set according to NS&I's desire (or lack thereof) to attract additional funds, based on their net financing target:

https://nsandi-corporate.com/news-research/news/nsi-provisional-q3-2021-22-results-and-2022-23-net-financing-target

Although they did seem to be keen to cut the prize rate every time the BOE cut rates.

eskbanker

Ducktard said:

The new Chase saver is 1.5% AER and paid monthly. If I invest £226K does that mean I will earn £280/month? 

Roughly, yes, but not a subject for this thread (and neither is the fact that such a large sum wouldn't all be protected by FSCS in a single institution).

eskbanker

westv said:

eskbanker said:

grahamgoo said:

I wonder if the prize fund will increase soon, still no movement after several base rate rises :-(

The PB prize rate isn't correlated with the BoE base rate and is set according to NS&I's desire (or lack thereof) to attract additional funds, based on their net financing target:

https://nsandi-corporate.com/news-research/news/nsi-provisional-q3-2021-22-results-and-2022-23-net-financing-target

Although they did seem to be keen to cut the prize rate every time the BOE cut rates.

I don't know how far back you're thinking of, but since 2009 the BoE base rate has only been cut in two months and in each case the next PB rate change was nine months later, and significantly lower than the base rate drop!

August 2016 - BoE rate drops by 0.25%, next PB rate change is -0.1% in May 2017

March 2020 - BoE rate drops by 0.65%, next PB rate change is -0.4% in December 2020

Swipe

£25 on a full holding