Premium Bond Winner ?

Deru

SVts said:

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. 

That's a shame as you seem lucky to win something in the first ever draw you're entered into.  Chip also have a 'prize savings' account thing with a prize with no interest which I've also got some cash in (1st/2nd month in with no wins).  I'm also saving some cash in their normal 3.82% account.

I have the bulk of cash in Premium Bonds but have chunks in other savings accounts just to spread it out. Premium Bonds is fun for me and it's a bit of FOMO but it's done well for me.

Swipe

PBs make very little sense unless you've maxed out your ISA each year or are a higher rate tax payer

SVts

Deru said:

SVts said:

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. 

That's a shame as you seem lucky to win something in the first ever draw you're entered into.  Chip also have a 'prize savings' account thing with a prize with no interest which I've also got some cash in (1st/2nd month in with no wins).  I'm also saving some cash in their normal 3.82% account.

I have the bulk of cash in Premium Bonds but have chunks in other savings accounts just to spread it out. Premium Bonds is fun for me and it's a bit of FOMO but it's done well for me.

That's just it I couldn't take a 3-4 month run of winning nothing. Pulled out this morning leaving just a £1000 in.

MallyGirl

 £250 (2x100 2x25) for June on £46k

eskbanker

SVts said:

Deru said:

SVts said:

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. 

That's a shame as you seem lucky to win something in the first ever draw you're entered into.  Chip also have a 'prize savings' account thing with a prize with no interest which I've also got some cash in (1st/2nd month in with no wins).  I'm also saving some cash in their normal 3.82% account.

I have the bulk of cash in Premium Bonds but have chunks in other savings accounts just to spread it out. Premium Bonds is fun for me and it's a bit of FOMO but it's done well for me.

That's just it I couldn't take a 3-4 month run of winning nothing. Pulled out this morning leaving just a £1000 in.

Why leave £1000 in?  That'll earn £38.20 in the other account, but the 'average luck' expected return from the PBs will be zero, even though there remains the chance of winning something....

SVts

eskbanker said:

SVts said:

Deru said:

SVts said:

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. 

That's a shame as you seem lucky to win something in the first ever draw you're entered into.  Chip also have a 'prize savings' account thing with a prize with no interest which I've also got some cash in (1st/2nd month in with no wins).  I'm also saving some cash in their normal 3.82% account.

I have the bulk of cash in Premium Bonds but have chunks in other savings accounts just to spread it out. Premium Bonds is fun for me and it's a bit of FOMO but it's done well for me.

That's just it I couldn't take a 3-4 month run of winning nothing. Pulled out this morning leaving just a £1000 in.

Why leave £1000 in?  That'll earn £38.20 in the other account, but the 'average luck' expected return from the PBs will be zero, even though there remains the chance of winning something....

Accumulated from birthday presents over the years.

eskbanker

SVts said:

eskbanker said:

SVts said:

That's just it I couldn't take a 3-4 month run of winning nothing. Pulled out this morning leaving just a £1000 in.

Why leave £1000 in?  That'll earn £38.20 in the other account, but the 'average luck' expected return from the PBs will be zero, even though there remains the chance of winning something....

Accumulated from birthday presents over the years.

But in what way does that make you feel obliged to keep some of your money in a product you've lost faith in, when by your own admission there are better homes for it?

retiringtoosoon

just reduced my holding by £10k to put into a 2 year fixed rate saver at 5.25% when our current mortgage deal ends.
lost faith in PBs as an effective savings vehicle.

pridehappy

It used to be okay years ago, although recently, with £5000 invested for 5 years nearly, I’ve won £50. So when you consider interest, it’s lost value.

A._Badger

I have pulled out my entire PB savings (about £24,000). It was worth a gamble when interest rates were low but not now I can get over 5%.with, effectively, no risk.