Premium Bond Winner ?

eskbanker

justwantedtosay said:
You appear to have missed this; And if you're arguing the toss about increasing each band by "exactly" the same amount, the chance of winning a mid range prize has gone up about 8-fold since early 2022 but that of winning a big prize is up 12-fold.So not exactly exact.

Indeed - I hadn't spotted that you'd edited a post after I'd replied to it!  I think it's your turn to have missed the point being made, which related specifically to this latest announcement, in which the changes to the mix are insignificant, whereas obviously they've changed substantially (and deliberately) over a series of relatively major announcements over the last year and a half.  By volume rather than value, the medium band changes from 1.18% of prizes to 1.17% in this announcement, which doesn't seem particularly material to me....

Doctor_Who

Calidad said:

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

Does anyone have a similar holding? 

And if we put the money in this month, would be be eligible for August’s draw? 

Thanks.

No, they would go in the September draw, you need to hold them for a full month before they enter the draw.

https://www.moneysavingexpert.com/savings/premium-bonds/

Ifts

Calidad said:

And if we put the money in this month, would be be eligible for August’s draw? 

As Doctor_Who says in the last post, if you buy them in July, you have to hold them for a full month (August) before they are eligible for the prize draw in September.

So if you do buy some, do it towards the end of the month.

As a registered NS&I customer, when I have to buy some I do it on the last day of the month using my debit card - and you get a receipt with that date as 'date of investment'.

Nebulous2

Ifts said:

Calidad said:

And if we put the money in this month, would be be eligible for August’s draw? 

As Doctor_Who says in the last post, if you buy them in July, you have to hold them for a full month (August) before they are eligible for the prize draw in September.

So if you do buy some, do it towards the end of the month.

As a registered NS&I customer, when I have to buy some I do it on the last day of the month using my debit card - and you get a receipt with that date as 'date of investment'.

I haven't bought any for some time, but my recollection is that they tell you at the point of purchase which draw they will be eligible for. 

polymaff

Calidad said:

Probably a bit of an impossible question to answer, but if say you put £10,000 in premium bonds is there much likelihood of winning anything? Or do you really need a full holding?

No, it is a gradual issue - and you'll regularly see relatively big wins on small holdings.

AIUI, the thing is that when you win two prizes, you actually had the odds pointing to, on average, 2.5 prizes - and that fraction is lost for ever. When you win five prizes you  suffer the same fractional loss - but it is a smaller loss relative to the win.

This is not just a quirk of Premium Bonds - but in most other savings products the average fractional loss is one halfpenny.

Imagine a world dealing with cash-only, no change given and a currency consisting of multiples of £25.

ForumUser7

https://www.express.co.uk/finance/personalfinance/1786902/premium-bonds-nsandi-winners-prize-draw

Anyone had any luck this time? On the larger prizes that is?

kipsterno1

These are the sort of wins that put a smile on my face,

EssexHebridean

Nowt for me again, and mine have now been requested for withdrawal - just leaving an odd £90 sitting there as you never know your luck, do you! (And we probably will put more in there at some stage in the future so thought we might as well leave the account open)

Ultimately we've never won more than £25 in a month, and the amount I have just withdrawn will pick up more than that in interest in a savings account for the month or so it's likely to be there before being used for a house purchase! 

Swipe

EssexHebridean said:

Nowt for me again, and mine have now been requested for withdrawal

The results for low value prizes aren't out until tomorrow 

EssexHebridean

Swipe said:

EssexHebridean said:

Nowt for me again, and mine have now been requested for withdrawal

The results for low value prizes aren't out until tomorrow 

Yep, I realise that. I thought the draw had already taken place though (I thought it was first thing on the draw day)? Realistically if not then chances are we'd have nabbed another £25 at most so not the end of the world!