Premium Bond Winner ?

mr_sharma

£550 this month on 37.5k holding. 

Eirambler

poppystar said:

Eirambler said:

Hi - looking for some advice regarding Premium Bonds. 

I had a decent win this month - 6 prizes for a total of £275. Just one slight problem, I have set my account to reinvest winnings but was only £225 under the max of £50k at the time of the draw.

So £225 has been reinvested to take the total up to £50k, but there's no information on the account about what happened to the other £50 (2 x £25 wins).

I have since withdrawn £2k into a 5.06% savings account I have to avoid this happening again. That has come through, but still no sign of the £50 I won. I assumed it would just appear in my current account by now but starting to worry that it won't at this stage! Anyone been in this position before that can advise how to sort it? Thanks.

It’s still only the 7th of the month, payment into current accounts usually happens around 8th to 10th in my experience so maybe wait a few days more before contacting them. 

Thanks for this, it was indeed just me being impatient, they've shown up this morning!

HotDog2020

I am slowly building up my premium bonds pot, I have £1000 Although I think the first draw for this will be July, I did have £100 before and won zilch - but I wouldn't expect to win a huge amount with only £100/ Next month £1000. But I want to join in. I am impressed with some of the wins on here. Since I had £25 - £50- £100 - £1000 I have won nothing. I have had more in holding in the past and won very little but I am keen to build up and try again. 

mebu60

HotDog2020 said:

I am slowly building up my premium bonds pot, I have £1000 Although I think the first draw for this will be July, I did have £100 before and won zilch - but I wouldn't expect to win a huge amount with only £100/ Next month £1000. But I want to join in. I am impressed with some of the wins on here. Since I had £25 - £50- £100 - £1000 I have won nothing. I have had more in holding in the past and won very little but I am keen to build up and try again. 

With the 'average' return around 4%, on £1000 you could statistically expect one or at a push two £25 wins a year. 

Keep on building up your stake. Each individual bond has a 1:21000 chance of winning a prize.

There's always hope. A £100k winner this month only had a £300 holding. 

HotDog2020

mebu60 said:

HotDog2020 said:

I am slowly building up my premium bonds pot, I have £1000 Although I think the first draw for this will be July, I did have £100 before and won zilch - but I wouldn't expect to win a huge amount with only £100/ Next month £1000. But I want to join in. I am impressed with some of the wins on here. Since I had £25 - £50- £100 - £1000 I have won nothing. I have had more in holding in the past and won very little but I am keen to build up and try again. 

With the 'average' return around 4%, on £1000 you could statistically expect one or at a push two £25 wins a year. 

Keep on building up your stake. Each individual bond has a 1:21000 chance of winning a prize.

There's always hope. A £100k winner this month only had a £300 holding. 

Thank you mebu60. 

PixelPound

mebu60 said:

HotDog2020 said:

I am slowly building up my premium bonds pot, I have £1000 Although I think the first draw for this will be July, I did have £100 before and won zilch - but I wouldn't expect to win a huge amount with only £100/ Next month £1000. But I want to join in. I am impressed with some of the wins on here. Since I had £25 - £50- £100 - £1000 I have won nothing. I have had more in holding in the past and won very little but I am keen to build up and try again. 

With the 'average' return around 4%, on £1000 you could statistically expect one or at a push two £25 wins a year. 

Keep on building up your stake. Each individual bond has a 1:21000 chance of winning a prize.

There's always hope. A £100k winner this month only had a £300 holding. 

The average return is lower the less you have due to the fact the minimum prize is £25. For a £1000 investment you should expect 0 or 1 prizes a year. On £1000 you should expect no prizes 11 months of the year and on average a prize every 2 years.
If you go to £10,000 then it's getting a prize on average every other month, though expect no prizes on average 7 months a year. As you increase further it goes to more prizes and the rate of return closer to the headline 4.4%

So if you compare with winning 1 or possibly 2 prizes with say putting £1000 in saving of say an unspectacular 3.5% (nets you £35 in one year or £72 over 2) then it doesn't make much sense for a smallish holding. Then again it depends on the reason behind wanting to put into PB's, forgoing equivalent of interest from savings might be worth it for the chance of winning or actually winning prizes even if on average over the year it might be less than the average return quoted.

Many on this thread have maximum holdings or near, but will have lots of other investments elsewhere. I suspect that if if a future government abolished the tax free status or limited it, most would cash in their PB's.

qwert10

Had 5k for 25 years never won. Cashed in and upped to the max, won every drawer so far varying from £700 to £300.

Kim_13

I suspect that there would be controversy if they did remove the tax free status, on the basis that some holders would have been able to put them into an ISA over past years had they known that the rug would be pulled from under them.

More likely would be lowering the holding limit, possibly grandfathering in the higher amount for those that already have it. Though as the limit has been unchanged for the best part of a decade now, you could say that fiscal drag does that anyway without the political fuss.

slinger2

With over £120 billion invested in premium bonds, probably they'll do nothing. The £50,000 limit hasn't increased since 2015 and simply leaving that unchanged has a long-term impact.

Class142

£150 for me on FH 1x£100 and 2x£25 that’s my second full year complete.

• July 23 : £0 ☹️
• August 23 : £25
• September 23 : £200 - 2x£25 1x£50 1x100
• October 23 : £250 - 1x£50 2x£100
• November 23 : £100 - 2x£50
• December 23 : £125 - 3x£25 1x£50
• January 24 : £350 - 2x25 2x50 2x100
• February 24 : £0 ☹️
• March 24 : £100 1x100
• April 24 : £50 1x£50
• May 24 : £300 2x50 2x£100
• June 24 : £150 2x25 1x100

Yearly Total : £1650

Year 23/24 : £1650 3.3%

Year 22/23 : £1300 2.6%

Best Month : June 23 £575

Grand Total Since July 22 : £2950