Premium Bond Winner ?

PowerSavingMode

MallyGirl said:

 £250 (2x100 2x25) for June on £46k

Congrats! 

I've noticed that the top winners always seem to have a holding of (often much, much) more than £10K — so I'm thinking of pulling out. Have won 3 x £25 over the past 12 months on a holding of just under £9K. 

PowerSavingMode

silvermum said:

3 wins today, totaling £100, on a £5175 holding.

To date, or with the June draw?

eskbanker

DJDools said:

silvermum said:

3 wins today, totaling £100, on a £5175 holding.

To date, or with the June draw?

Surely 'today' is self-explanatory?

S_uk

DJDools said:
I've noticed that the top winners always seem to have a holding of (often much, much) more than £10K

Well the more bonds someone holds the more likely they are to win, so I wouldn't say it's particularly surprising.

Not sure what you meant by "always seem".. seven 100k prizes went to people holding less than 10k in bonds this month. Someone with a £4 holding won 5k and another with a £2 holding won 10k.

Deru

Swipe said:

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

It's a gamble but personally, I've done better from PB's this year than all my savings products / ISAs combined (not maxed out).  It's a gamble but potential returns are great if you're lucky enough. 

It's a bit like saying it makes very little sense to play the lottery?

Had I not bought PB's because I haven't maxed out my ISA (with it's measely rates), I'd be worse off.

Swipe

Deru said:

Swipe said:

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

It's a gamble but personally, I've done better from PB's this year than all my savings products / ISAs combined (not maxed out).  It's a gamble but potential returns are great if you're lucky enough. 

It's a bit like saying it makes very little sense to play the lottery?

Had I not bought PB's because I haven't maxed out my ISA (with it's measely rates), I'd be worse off.

Playing the lottery does make very little sense.

Deru

Swipe said:

Deru said:

Swipe said:

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

It's a gamble but personally, I've done better from PB's this year than all my savings products / ISAs combined (not maxed out).  It's a gamble but potential returns are great if you're lucky enough. 

It's a bit like saying it makes very little sense to play the lottery?

Had I not bought PB's because I haven't maxed out my ISA (with it's measely rates), I'd be worse off.

Playing the lottery does make very little sense.

I agree, if you're looking to save, as it's gambling so makes no sense. 

At least PB is like a 'free' lottery for me.  Only thing lost is not getting the guaranteed interest which I don't find particularly attractive at the currunt rates.  I have a mixture of savings products but my PBs has the lion's share as for me, it makes sense anyway but everyone's different.

Sarahspangles

Deru said:

Swipe said:

Deru said:

Swipe said:

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

It's a gamble but personally, I've done better from PB's this year than all my savings products / ISAs combined (not maxed out).  It's a gamble but potential returns are great if you're lucky enough. 

It's a bit like saying it makes very little sense to play the lottery?

Had I not bought PB's because I haven't maxed out my ISA (with it's measely rates), I'd be worse off.

Playing the lottery does make very little sense.

I agree, if you're looking to save, as it's gambling so makes no sense. 

At least PB is like a 'free' lottery for me.  Only thing lost is not getting the guaranteed interest which I don't find particularly attractive at the currunt rates.  I have a mixture of savings products but my PBs has the lion's share as for me, it makes sense anyway but everyone's different.

Agree. Premium Bonds make sound financial sense for some people who have exhausted tax-free options and their personal savings allowance. They just need to factor in that a max holding increases their chances of achieving a nominal return that matches or exceeds other available savings rates after tax.

For other people it’s more of an emotional decision - the PBs were a gift, and are associated with the giver, or they feel they’ll be lucky one day and prefer ‘playing’ PBs to the lottery.  At least with a PB if you cash in your bond, you don’t run the risk you do with the lottery of your favourite numbers coming up that first week you don’t buy a ticket!

In her final years my MIL declined to put money into savings but would have PBs. Something to do with local bank branches closing. Anyway, she would see the prizes as a windfall - which she wouldn’t have done with savings interest - and it meant she would treat herself. Knowing she did was more valuable to us than some more money for the estate.

Sg28

Swipe said:

Deru said:

Swipe said:

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

It's a gamble but personally, I've done better from PB's this year than all my savings products / ISAs combined (not maxed out).  It's a gamble but potential returns are great if you're lucky enough. 

It's a bit like saying it makes very little sense to play the lottery?

Had I not bought PB's because I haven't maxed out my ISA (with it's measely rates), I'd be worse off.

Playing the lottery does make very little sense.

It makes no sense at all. Its one of the worst types of gambling return wise. 

christmaslights

Finally it’s happened!  I’ve won £100 in the June draw having not had a win since the £25 I got in 2021.  Holding of £3,000 which I now will have to increase because I made it a promise that if I won in June I would buy more premium bonds….  Agree there are more sensible places for your savings, but it’s a bit of fun and the pleasure I got from that £100 win was so much greater than it would have been had it been interest on a savings account. And there is always the hope of the Big Win which I’m now confidently expecting will happen in July 😊