Premium Bond Winner ?

gt94sss2

Brie said:

Stupid question for you....how does one buy premium bonds?

https://www.nsandi.com/products/premium-bonds

Hal17

Has anyone thought of cashing in their PB's and transferring to a fixed term cash account. Providing of course that you still have tax allowances available?

ranciduk

Brie said:

Stupid question for you....how does one buy premium bonds?

I used to buy them with a debit card - but last time I paid by a bank transfer instead 

Just setup an account with NS&I and do it via their website 

it’s pretty straightforward 

redpete

Hal17 said:

Has anyone thought of cashing in their PB's and transferring to a fixed term cash account. Providing of course that you still have tax allowances available?

Yes, and into P2P investments, crowdfunding accounts, and cash regular savers.  That is of course trading security for returns, and instant access for returns, and tax-exempt income for returns.

RobM99

grahamgoo said:

RobM99 said:

DjangoUnchained said:

nothing for me on my 50k holding, not to worry, im sure im gonna win a million next month

Only a 1 / 54,000,000,000 chance!

Per £1 bond.   On max holding the chances are a bit better than that!

Yes, I didn't say that - "oops" on my part!

polymaff

NS&I:   2.20% (annual prize fund rate)

So an effective rate of 1.98% equivalent to 2.475% for basic rate payers, 3.3% for higher rate payers.

Perksy5

refluxer said:

Perksy5 said:

My very first deposit was £100 June 2018, my first draw in Aug 2018 I won £500. Was mega welcome as I was in a car accident a month later and I could use the 500 towards a new car deposit.
I've got around 5.5k saved now and had a couple of £25s over the last 4 years so it's about £675 altogether I've won now. But nothing won for around 1.5 years  
Its a long slog when you've had the buzz of a few wins and get nothing else! Though I realise compared to some I've been very lucky!

If you won £500 in your first qualifying month from just £100-worth of bonds, you should have quit there and then as it's unlikely to get any better than that !

Seriously though - if you consider these as important savings and don't necessarily need the tax-free element of the prizes, then I would have a think about whether Premium Bonds are the best option for your money these days, especially when you can earn around 2% in an easy access account at the moment or 3.3%+ by fixing for a year or more. While either of those are a long way off inflation, they're a big improvement on the 0% you've gotten over the past 1.5 years.

I know. I just can't stop thinking about the 'what if' if I did withdraw thinking I could've been a millionaire or even 50k would be a welcome win haha.
I stand to triple my money on a sharesave scheme next year(high Street bank discounted price is 84p, I'll never beat this ever in my life) so sank the full whack into that to maximise. So instead i'm quite happy to focus my gains elsewhere and keep my premium bonds for the thrill even if i don't win in the short term. I've truly been gotten, but that's how NS&I get you 😄

hoc

Go on Ernie! Go on son!

Primrose

Wll be watching October results more eagerly nowprize fund rate has been increased from 1,4% to 2.2%

Primrose

I think in these miserable times it,s nice to have a brief moment of anticipation very month.  And not bring a gambler my money is still there at the end of the transaction.  However qi do wish one could still reinvest your winnings once the maximum holding was reached, or that they would raise this amount.