Premium Bond minimum lowered to £25 today - MSE news

Former_MSE_Rosie
Former_MSE_Rosie Posts: 105
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edited 1 February 2019 at 4:04PM in Savings & investments
The minimum amount you can save in Premium Bonds has been cut to £25 from today...
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Comments

  • greenglide
    greenglide Posts: 3,301
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    The link doesn't exist - gets a 404 error "Sorry, you've landed on a page that doesn't exist."
  • Gers
    Gers Posts: 11,938
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    greenglide wrote: »
    The link doesn't exist - gets a 404 error "Sorry, you've landed on a page that doesn't exist."

    Works for me.
  • MovingForwards
    MovingForwards Posts: 16,848
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    Works for me too.

    I'm pleased it has been lowered as this is something I have wanted to put into for several years, but the £100 minimum was always stopping me.
    Mortgage started 2020, aiming to clear it in 2026.
  • eskbanker
    eskbanker Posts: 30,226
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    I'm pleased it has been lowered as this is something I have wanted to put into for several years, but the £100 minimum was always stopping me.
    Not sure what your expectations are but even with a £100 holding, average luck would only give you a 21.7% chance of winning anything at all over five years worth of draws. Obviously a significantly smaller holding will have a much lower chance of winning anything, so best not to build your hopes up!
  • MovingForwards
    MovingForwards Posts: 16,848
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    I have no expectations with them, I just like the idea of holding a couple of hundred in PBs for a rainy day :D

    Sorry can't quote or tag as on my phone!
    Mortgage started 2020, aiming to clear it in 2026.
  • Great news, I know slim chance of winning big but set up standing order for my children £25 month each
  • Alexland
    Alexland Posts: 9,652
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    Shame they didn't change the odds such that someone with £25 has a meaningful chance of winning anything.
  • perhaps this is the government's way of admitting that most people who don't already own their own home won't be able to — unless they are lucky.
  • taylornj
    taylornj Posts: 295
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    With the minimum winning £25 make sense to be able to reinvest winnings. However this may be ahead of other changes in the prize distribution lots more £25 winning prizes and a reduction in the higher prizes.


    But that make is less like gambling. May have to reconsider premium bonds if that the case.
  • eskbanker
    eskbanker Posts: 30,226
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    taylornj wrote: »
    With the minimum winning £25 make sense to be able to reinvest winnings.
    It was possible to reinvest winnings from £25 upwards before this change, despite the minimum purchase of newly-funded bonds being £100 previously.
    taylornj wrote: »
    However this may be ahead of other changes in the prize distribution lots more £25 winning prizes and a reduction in the higher prizes.
    98.2% of the prizes are £25 ones already!
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