Premium Bond Winner ?

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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 😊

Primrose

I,m not a gambler but always think of the monthly Ernie draw as a bit of fun without losing your  stake.  Have other savings so happy to go with the flow and at least your money is safe!

Sg28

Primrose said:

I,m not a gambler but always think of the monthly Ernie draw as a bit of fun without losing your  stake.  Have other savings so happy to go with the flow and at least your money is safe!

Your stake is the interest you would have earned. 

So you do lose it sometimes.

I like premium bonds, its a bit of fun and tax free. Even if its not the highest return wise.

borderline

Has anyone ever won anything with just £25? 
I've just opened an account with 25 quid last weekend .. I didn't want to open it with more money at first, I thought they were supposed to check proof of ID and address but I had to pay right away before any checks ... so I put just 25 just in case.. 
I haven't been asked for any proof .. I will add more money next week or so

RG2015

borderline said:

Has anyone ever won anything with just £25? 
I've just opened an account with 25 quid last weekend .. I didn't want to open it with more money at first, I thought they were supposed to check proof of ID and address but I had to pay right away before any checks ... so I put just 25 just in case.. 
I haven't been asked for any proof .. I will add more money next week or so

See the list of high value winners this month on the link below.

Someone in Ealing won £50,000 with £10 worth of Premium Bonds.

https://www.nsandi.com/prize-checker/winners

PS You will need to change the "Per Page" from 10 to all. 

PS2 If you sort by bond value you will see more amazing wins on very low holdings.

Prize value	Winning Bond	Holding	Area	Bond Value	Purchased
£5,000	AZ912924	£4	Oxfordshire	£1	Dec-57
£10,000	BN471853	£2	South Gloucestershire	£2	Feb-59
£10,000	1FW858944	£1,732	West Midlands	£5	Jun-68
£50,000	8KB356761	£10	Ealing	£10	Mar-72

 

Swipe

borderline said:

Has anyone ever won anything with just £25? 

I had £100 for about 20 years and won nothing