Premium Bond Winner ?

Eirambler

A sizeable enough increase, good to see. Was considering ditching them, moving the funds into my Tandem account and just accepting the tax implications (I've already got as much as I can have tax free in regular savings), but I'll probably just keep the bonds now. 

I think 4.65% would give an average prize win, excluding the big prizes that you're unlikely to win, of around 3.9%?

Just looking at the prize breakdown, it does seem as though they are maybe working towards phasing out the £25 prizes.

gt94sss2

Eirambler said:

Just looking at the prize breakdown, it does seem as though they are maybe working towards phasing out the £25 prizes.

Years ago, there were no £25 prizes and the odds of winning a prize were 20,000:1

It could be that they are looking at going towards that.

poppystar

The first ever draw had £25 prizes. 

PixelPound

gt94sss2 said:

Eirambler said:

Just looking at the prize breakdown, it does seem as though they are maybe working towards phasing out the £25 prizes.

Years ago, there were no £25 prizes and the odds of winning a prize were 20,000:1

It could be that they are looking at going towards that.

If you look at the increases this year they've increased the non-£25 in the lower third at the expense of the £25, and then increased the £25 in the following rise. 

polymaff

Typically yielding up to 3.72%, worth up to 4.65% basic rate, up to 6.20% high rate.  Other rates up, too. 18/08/2023

https://nsandi-corporate.com/news-research/news/millions-nsi-customers-benefit-interest-rate-increases-across-variable-products

justwantedtosay

Eirambler said:

I think 4.65% would give an average prize win, excluding the big prizes that you're unlikely to win, of around 3.9%?

Having only won £100 once I think of that as a big prize, but if you only count the £25-100 prizes that you're likely to win the rate is roughly 3.7% though you 'should' win a £500+ prize every 2.6 years now on a full holding, and a £50 and a £100 virtually every month, which is amazing when you think that this time last year it was every five years for £50 and £100 prizes.

romeo69

I have had 100k invested over the last 12 months, that return has actually given me a 3.34% return; unless my 'luck' changes soon, I will definitely be out.

Sg28

At 3.34% over the last 12 months sounds like you've done better than average. 

What would you have got if you had had that 100k in the top paying easy access for the last 12 months? 

less than 3.34% I would imagine. 

eskbanker

Probably worth just adding that to the existing thread where people share their experiences, rather than starting a new thread simply for that:

https://forums.moneysavingexpert.com/discussion/81778/premium-bond-winner

A return of 3.34% over the last 12 months will be above average though (what were you expecting?), and today's announcement will result in returns improving again....

Ayr_Rage

You must be very special as the holding limit is only £50,000 !