Premium Bond Winner ?

Macsidia

Well last month I was having a bit of a moan with my disappointing returns thus far. That all changed in June.

2 Prizes: £25 and then I got £500!!! Couldn't believe the 2nd prize was £500, Was thinking it be another £25, £50 or £100 max.

2023 so far: (Holding Approx £39K).

Jan - £0, Feb - £150, Mar £75, Apr £25, May £0, Jun - £525, Total: £775

Expectation for 6 months: £643.50 or £546 excluding larger prizes. The £500 puts me ahead for the year so far.

Macsidia

retiringtoosoon said:

£5m on £25 holding!

Thats currently impossible. £4.3m would be the highest possible win on £25 holding. (2x £1m & 23x £100K)

Gave me a good chuckle for a while though!

GrubbyGirl_2

gussie5555 said:

Swipe said:

jaceyboy said:

My wife has £50k and I have £41k in Premium Bonds, we win normally around £100-150 each per month, would I be better off putting £91k into something else?

This video pretty much sums Premium Bonds up:

https://www.youtube.com/watch?v=q1EcrlFiwP4&pp=ygUZamFtZXMgc2hhY2sgcHJlbWl1bSBib25kcw%3D%3D

Excellent Video - When Interest Rates were 1% and below Premium bonds made sense - but not anymore. I've only held a max holding for around three years and for the first two years I came out on top but the last six months no way could I match what I could get from normal savings accounts - there really should be a stampede to get out of Premium Bonds now - but as the guy said our brains just don't let us see the truth! The only reason I'm waiting one more month is that I can see the BOE increasing rates on June 22nd again and 1 year fixed bonds paying over 5.5% will become available and I know where my 50k should be sitting then !

You can't generalise, they make perfect sense for some.  I am a high rate tax payer, I max out my ISA allowance every year, I have about £40k in savings which increases every year even after I've put £20k into my ISA. I am retired so can't max out a pension.  I have the max holding of premium bonds and since January they have earned me 1.85% and there is still 6 months to go.  If I put it in a 4% account I'd be getting 2.4% after tax.  They make sense for me.

I do wonder how many who dis premium bonds play the lottery every week?

SoozyJ22

Second month in a row of £50 on a full holding. 

retiringtoosoon

Macsidia said:

retiringtoosoon said:

£5m on £25 holding!

Thats currently impossible. £4.3m would be the highest possible win on £25 holding. (2x £1m & 23x £100K)

Gave me a good chuckle for a while though!

I was rounding to the nearest £5m

Stubod

Been in PBs for a while as it seemed to make sense when interest rates were low, (sub 1%), and now when we get a win it seems like a lot compared to what we were getting when the rates were lower. However when you consider that £50k in a current 5% fixed account will get you a guaranteed £166 (20% tax payer), and given the odds of winning "the big one", I think putting the money into savings accounts is starting to seem a better bet.

GalacticaActual

Well, a good month for prize winnings this month for me - 4 in total (£1,175) on maximum holding.

The £1,000* prize was the last to be revealed and only the second time I’ve won that amount*.  

That makes £1,950 I’ve won so far this year. May was the only month I didn’t win anything.

  


* previous time I won £1,000 was 27 years ago

becky_rtw

Nice win Galatica!

My run of luck continues with £200 on circa £47k and £175 for hubby on full holding.

I've now won £1325 since February which is nice.

Johnjdc

£325 on max holding, somewhat making up for the pittance thus far this year otherwise.

the_goon

Well, I've broken my duck...

On a full 50k holding:

• June 2023 - £250 (2 x 100, 1 x 50)
• May 2023 - £0
• April 2023 - £0
• March 2023 - £0
• Feb 2023 - £0
• Jan 2023 - £0

That makes £250 for the year so far 
I was going for a World Record 6 months without a win. Sooooo close!