Premium Bond Winner ?

Beddie

25 measly quid!

concorde1966

5 x £25’s this month

Thumbs_Up

Not that anyone needs to know this but I have emptied my premium bond account and put the 50k towards Al Rayan 1.9% savings account. I never expected to win anything big, so for the odd £50 or £25 “win” it did nothing for me.

2010

Thumbs_Up said:

Not that anyone needs to know this but I have emptied my premium bond account and put the 50k towards Al Rayan 1.9% savings account. I never expected to win anything big, so for the odd £50 or £25 “win” it did nothing for me.

Bad move, I have it on good authority you were due £1 million in Sept. draw.

Frequentlyhere

I'm surprised there's not more of an exodus at these sorts of rates. If you're a couple with £100k in there month after month, you're on average foregoing over £1400 a year with PB's vs a 1 year fix, or to put it another way you need to be averaging ten £25 prizes a month to keep pace with the guaranteed returns of a 1 year fix.

(appreciate PB's are more akin to easy access, though most people with £50k in there don't really need that much easy access and tend to keep them there for months/years).

jimexbox

I pulled my money out as soon Chase offered 1.5%. I've now left Chase for better rates. Never regretted it. That 'have I won big', only to find out it was 25 quid got tiresome. 

subjecttocontract

There are a few considerations where premium bonds are concerned.
* Winnings are tax free.
* They don't contribute to your £1000 or £500 annual allowance.
* Up until quite recently interest payments on other accounts have been very poor so, less to loose if you buy p/bonds.
* Gov' protection doesn't stop at £85K.
* They are a useful addition for those that have maxed out other tax free savings.
* Easy withdrawl, available to you in a few days.

inflationbuster

Premium bond	Returns
Invested	Total prize	Yield	Tax Year
£50,000.00	£150	0.3%	22-23
£50,000.00	£425	0.85%	21-22
£50,000.00	£775	1.55%	20-21
£50,000.00	£725	1.45%	19-20
£50,000.00	£950	1.9%	18-19
£50,000.00	£450	0.9%	17-18 starting  Nov

Thumbs_Up

2010 said:

Bad move, I have it on good authority you were due £1 million in Sept. draw.

Great shame for us both then, I was going to give you half, we both can cry tears of injustice.

Thumbs_Up

subjecttocontract said:

There are a few considerations where premium bonds are concerned.
* Winnings are tax free.
* They don't contribute to your £1000 or £500 annual allowance.
* Up until quite recently interest payments on other accounts have been very poor so, less to loose if you buy p/bonds.
* Gov' protection doesn't stop at £85K.
* They are a useful addition for those that have maxed out other tax free savings.
* Easy withdrawl, available to you in a few days.

Of course not remotely connected but in the 28 years of the national lottery fund I have only wasted my £1 or £2 coins a handful of times.