Calculating Premium Bond Winnings.

roxally

I need some help please as it's many years since I studied Maths at school.
I'm trying to find the formula for calculating the % returns on premiuim bond winnings so that i can compare whether it would be better to have invested in a savings account instead.

Thanks in advance for any replies.
Roxally.

Moniker

You might find the naswer here in an article previously published in Martin's emails:

http://www.moneysavingexpert.com/savings/premium-bonds-calculator/

HTH

Moniker

Jonbvn

No need to calculate!

This has been done many times on MSE. See the links for details.
http://www.moneysavingexpert.com/savings/premium-bonds-calculator/
http://www.moneysavingexpert.com/savings/premium-bonds

A decent savings account will beat PB's nearly all of the time!

roxally

Thanks both for the speedy replies. The links are very helpful and interesting but I'm not sure that they give me the answer I am seeking.

For example. If I had 10,000 invested in Premium bonds and had won £250 so far this year what rate of return would this be as a percentage and how would I calculate the answer.
Sorry to sound stupid.?

Many thanks Roxally

Jonbvn

roxally wrote: »

For example. If I had 10,000 invested in Premium bonds and had won £250 so far this year what rate of return would this be as a percentage and how would I calculate the answer.

% rate of return = (250/10000) x 100 = 2.5%

HTH.

roxally

Many thanks that's perfect. I appreciate your help.
Roxally