Premium Bond Winner ?

RedImp_2

£50 on max after a couple of decent months 

Kaizen917

Is there much of a difference if you put lower amounts into premium bonds? I keep being told that having less than 50k is pretty sub-optimal.

Ifts

 £275 (2x100 1x50 1x25) for June on FH   

Sg28

£50 on max 😞

El_Torro

Kaizen917 said:

Is there much of a difference if you put lower amounts into premium bonds? I keep being told that having less than 50k is pretty sub-optimal.

The less you have in Premium Bonds the lower the likelihood is that you will get an average return, which is currently 3.30%. That 3.30% includes the high value prizes, most people will get closer to 3%. 

One way to look at it is that currently the chance of winning 1 prize in a month is 24,000 to 1. So if you have less than £24,000 in Premium Bonds you are unlikely to win a prize every month. 

Personally I currently have £25,500 in Premium Bonds and my return so far this year (annualised) is 3.9%. Not bad considering it’s tax free and if it wasn’t I’d be paying 40% tax on my winnings. 

Ultimately none of the returns are guaranteed so any amount in Premium Bonds is a gamble when compared to a savings account. Personally I wouldn’t bother with less than £10k in PB, though who knows, people with less often get lucky. 

SVts

June first draw for me. £26000 - £25 prize. 

Not sure this is for me think I'll withdraw tomorrow and get the safe £82 a month from Chip.

borefest

what is chip? thanksx

SVts

borefest said:

what is chip? thanksx

Chip Bank instant access account currently paying 3.82% interest. I've realised Premium Bond 'gambling' is not for me as I'd rather have the guaranteed return. 

bungleberg

Best month yet on a full holding

£275   £100 x 2 & £25 x 3

  

Deru

Only won £25 this month.  £34K holding.  4th month winning streak though.