Premium Bond Winner ?

Stargunner

RG2015 said:

mandarin6 said:

RG2015 said:

mandarin6 said:

RedImp_2 said:

Zero on max following blank February.
As I said last month funny how chance works 4 prizes in Jan, zero in Feb & Mar.
Does make me think winners often come from groups of numbers 

Agree that certain bonds win more than others.  For example in the list of main prizes this month Bond number 246JD came out twice for the same person from West Sussex winning 25k+5k (bond amount just over 39k)  Coincidence or bias? Tend to think the latter.

What an amazing coincidence!

Yes it is!  In my case I have a few small bonds but three come out regularly more than just coincidence (4k, 3k, 2k). Other bonds of similar amounts either didn't win or returned £25 over 12months. I've cashed those in and bought new bonds in draw 1 April, will see how they do.!

Which is more likely.

Surprising examples of coincidence or the draw is not random?

What is 100% not subject to chance is that for the 30 or so days after buying bonds, they will neither win nor earn any interest elsewhere..

They also won’t be subject to any tax, which makes them attractive to many..

justwantedtosay

RG2015 said:

What is 100% not subject to chance is that for the 30 or so days after buying bonds, they will neither win nor earn any interest elsewhere..

If you had a savings account that paid interest monthly would you expect to get a full month's interest on the 1st of April if you opened the account on the 31st of March. Of course not. So why moan about not getting any return from PBs in the first 30 days?

RG2015

justwantedtosay said:

RG2015 said:

What is 100% not subject to chance is that for the 30 or so days after buying bonds, they will neither win nor earn any interest elsewhere..

If you had a savings account that paid interest monthly would you expect to get a full month's interest on the 1st of April if you opened the account on the 31st of March. Of course not. So why moan about not getting any return from PBs in the first 30 days?

Who's moaning?

I was replying to someone who said, " I've cashed those in and bought new bonds in draw 1 April, will see how they do.!"

In response, I am just saying that taking money out of Premium Bonds and then putting it back guarantees that you lose 30 days interest (and the opportunity of a PB win).

arthurdick

Max holding

This is my first month back holding premium Bonds, the last time I held some was over 27 years ago,  Had max holding then (£10000) , I dont remember winning any large prizes then, maybe the odd £75  PM now and then.

As I have said, this is my first month back holding Permium Bonds  and I won  a  £25  and a £50. 

At this rate I would be getting less than in savings but as I have all my money from selling my home in savings  and waiting to buy a new place, it saves me a little bit of tax on interest..  Plus it always gives me that dream the last week of the month, where I am looking at all property up to 1 Million in the area I would want to buy.  At the moment it is treated as a bit of fun.

st182

I've still never won- but only ever held a very small amount!

Can I ask- does anyone use Premium Bonds literally as a savings account, as in regularly withdraw and pay in?

I'm lucky enough to be going into higher tax band next financial year, so I'm thinking of completely simplifying and just use PB as a single pot for everything. Any thoughts? Thanks all! 

Sarahspangles

st182 said:

Can I ask- does anyone use Premium Bonds literally as a savings account, as in regularly withdraw and pay in?

It’s a full month before new bonds are entered in the draw so the optimum time to purchase is towards the end of the month.  Withdrawals aren’t instant either - a couple of days the last time I withdrew any.  So it’s not a direct equivalent to an instant access account.

I do have rainy day money in PBs because I use my ISA allowance on accounts that are even more limited access.  And someone has to win….

Primrose

st182 said:

I've still never won- but only ever held a very small amount!

Can I ask- does anyone use Premium Bonds literally as a savings account, as in regularly withdraw and pay in?

I'm lucky enough to be going into higher tax band next financial year, so I'm thinking of completely simplifying and just use PB as a single pot for everything. Any thoughts? Thanks all! 

Well at least if you use this option you know your bank won,t go broke as it,s backed by the government!
Seriously I wouldnt  though  as if you need access to some of your money in a hurry for an emergency NS&I is probably not the quickest route to get it.   Also if you,re going into a higher tax band, get  advice on whether paying into an ISA or additional money into your pension  might not give you more long term flexibility,  I don't know what age you are and what sort of pension scheme you have or whether you have a mortgage but keeping your savings options flexible and getting the best value from them may not be served by NS&I in my opinion

masonic

st182 said:

I've still never won- but only ever held a very small amount!

Can I ask- does anyone use Premium Bonds literally as a savings account, as in regularly withdraw and pay in?

I'm lucky enough to be going into higher tax band next financial year, so I'm thinking of completely simplifying and just use PB as a single pot for everything. Any thoughts? Thanks all! 

Being a higher rate taxpayer still entitles you to £500 tax free interest, which should allow a sufficient balance in normal savings for your everyday needs.

st182

Thanks all, good points well made. I think like all things, it's perhaps best to not put everything in one basket! Fair point on the month+ lag, I hadn't thought of that. I'll certainly have some PSA left after the fixed rate bonds I hold mature, so yes- decision made- I'll use that as a buffer for easy access. As for pensions, yes I am considering more AVC's. Thanks again 

pbcpdeveloper

Might be worth looking into extra pension payments via Salary Sacrifice, this can take you back below the higher rate tax bracket.