Topic: Premium Bonds

[Andy @ Allerton!]

Has been steady, but the last two months - fuck all

[rob1966]

Just the one £25 this month.

[67CherryRed]

Heading for a full year of fuck all, with interest rates increasing surely it's time for them to increase the number of prizes.

[west_london_red]

£75 this month

[Red-Soldier]

Heading for a full year of fuck all, with interest rates increasing surely it's time for them to increase the number of prizes.

Line up everyone with £1,000 worth of Premium Bonds in order of their year's winnings, and the person halfway along would have won… not a penny! In fact, you'd need to walk past 70% of the line until you hit the first £25 winner.

Premium Bonds are the UK's biggest savings product, with more than 21 million people saving over £116 BILLION in them. But with other savings rates creeping back up – should you still be buying Premium Bonds?

[Joff]

Fuck all this month. 2 months of nothing, 3 months with prizes. Irks me when I don't win 😄

[west_london_red]

I remember reading something from Martin Lewis that said if you have less then £5k premium bonds are not a good investment

[-Willo-]

Just stick your money in a daily dividends pie on Trading212.

[Joff]

Everyone giving the advice to invest it elsewhere are ignoring the very small chance of winning large cash prize.
I also have money in shares, and over the last 3 months my share money has drastically underperformed compared to my premium bonds 🤣🤣🤣

[CraigDS]

Everyone giving the advice to invest it elsewhere are ignoring the very small chance of winning large cash prize.
I also have money in shares, and over the last 3 months my share money has drastically underperformed compared to my premium bonds 🤣🤣🤣

Going by your own figures in here you have £30,225 in PB's and have won £100 this year. Not sure where you have money in shares but even a moderate fund would likely have gained more than the PBs over the last 4 months.

[Elmo!]

Yeah my S&S ISA took a bit of a dip but has recovered completely.

If you are investing in individual shares then anything could happen... it's essentially gambling.

[Joff]

Going by your own figures in here you have £30,225 in PB's and have won £100 this year. Not sure where you have money in shares but even a moderate fund would likely have gained more than the PBs over the last 4 months.

Right.
But they also give me the security of not losing a vast amount of money in case I needed the money whilst also offering a large prize.

[Joff]

And I also own shares, don't forget. Diversified options on my money is sensible here.

I earn a very (very) modest salary and the money my wife and I have saved up is important, and not worth risking.

[Joff]

Going by your own figures in here you have £30,225 in PB's and have won £100 this year. Not sure where you have money in shares but even a moderate fund would likely have gained more than the PBs over the last 4 months.

I'm 28% down on my initial investment, 4 months ago I was back to my initial investment. I'm aware it will bounce back, but I don't have this uncertainty with PB.
I've had these shares, among others for over 10 years.

[filopastry]

Slightly annoying that rates haven't gone up to reflect the rise in base rates, will move my PB amount over to the Chase saver I think

[west_london_red]

Have the May numbers come through? My balance hasn’t changed, but not sure if that’s because I haven’t won anything or because the draw hasn’t been made.

[damomad]

May should be through today, nothing for me this month.

[Elmo!]

Slightly annoying that rates haven't gone up to reflect the rise in base rates, will move my PB amount over to the Chase saver I think

I don't have PBs but moved all my cash savings from Marcus into a Chase savings account last month, and started moving part of my salary in each month and doing all my day to day spending with the Chase current account, as you get 1% cashback on all spending.

I havent' done the maths but I reckon you are probably better off getting the extra interest and buying a lottery ticket compared to PBs. It will depend on how many PBs you have and how often you buy a lottery ticket of course.

[rob1966]

£200 between the missus and the kids, she got £25, eldest £75 and youngest £125

[west_london_red]

I don't have PBs but moved all my cash savings from Marcus into a Chase savings account last month, and started moving part of my salary in each month and doing all my day to day spending with the Chase current account, as you get 1% cashback on all spending.

I havent' done the maths but I reckon you are probably better off getting the extra interest and buying a lottery ticket compared to PBs. It will depend on how many PBs you have and how often you buy a lottery ticket of course.

There’s another rate rise expected tomorrow, so will wait and see if that prompts any action on savings rates from either NS&I or anyone else but will probably open a Chase account if there’s nothing better about. US rates have just been increased by 0.5% today so will be interesting to see what the BoE does tomorrow as the pound has taken a battering against the dollar the last month which is also not helping with energy priced in dollars.

[filopastry]

There’s another rate rise expected tomorrow, so will wait and see if that prompts any action on savings rates from either NS&I or anyone else but will probably open a Chase account if there’s nothing better about. US rates have just been increased by 0.5% today so will be interesting to see what the BoE does tomorrow as the pound has taken a battering against the dollar the last month which is also not helping with energy priced in dollars.

I think a 0.25% increase tomorrow is pretty nailed on.

[John C]

£200 between the missus and the kids, she got £25, eldest £75 and youngest £125

£100 in to my house. Very, very disappointing month.

[pw1008]

£50 here

[John C]

Another month, another big fat zero.

Jc has had me on toast here

Sincere apologies mate, I must admit I've never been more pissed off as I am this year with the wins.

[west_london_red]

It’s annoying that none of the recent rate rises have been reflected in the prize fund being increased.

[Rhi]

It’s annoying that none of the recent rate rises have been reflected in the prize fund being increased.

An increase has just been announced, but it's hardly earth-shattering!

NEWS: From June the Premium Bond prize fund rate will increase from 1% to 1.4%.

This is just less than the top easy access account at 1.5% and far less than top fixes.

So most with typical (median) luck even with the full £50,000 will on average still do better with those.

https://mobile.twitter.com/MartinSLewis/status/1529038036423647233

[John C]

£200 total household wins. Still absolutely shite.

Put me on ignore Jake 

[Joff]

Standard £25

[67CherryRed]

Nothing for 13 months now (£7700 of bonds).

[west_london_red]

After a good start, nothing last month and only £25 this month.

Thanks Rhi for the update on the rates going up.

[gazzalfc]

Another £25.

[Red-Soldier]

Another £25.

This time next year Rodders 

[gazzalfc]

This time next year Rodders 

Free money is free money.....

But in all honesty, I've got £500 in there from my grandad when he died. All the grandkids were told either buy something to remember him by or put it in premium bonds. All my siblings and cousins bought things like watches, jewellery etc. I was the only one who put it in bonds

That was over 7 years now and including that I've won a total of £50. I know my chance of winning a mid or top tier prize is lower than zero but it's there in his memory and the prize is alway a nice reminder of him when it comes.

[Red-Soldier]

Free money is free money.....

But in all honesty, I've got £500 in there from my grandad when he died. All the grandkids were told either buy something to remember him by or put it in premium bonds. All my siblings and cousins bought things like watches, jewellery etc. I was the only one who put it in bonds

That was over 7 years now and including that I've won a total of £50. I know my chance of winning a mid or top tier prize is lower than zero but it's there in his memory and the prize is alway a nice reminder of him when it comes.

That's a nice thing.

[ToneLa]

Got a bonus and my help to buy limits payment so I think its time to throw a few ton into this

[west_london_red]

Diddly squat this month

[Joff]

The standard £25 as per 😐

[So… Howard Philips]

The standard £25 as per 😐

Same here. I was away at the time, didn’t check my account  and spent a couple of days day dreaming I’d won the jackpot.

It’ll buy a round.

[John C]

One daughter £75, one £50, fuck all for me 

[ToneLa]

I'm not eligible til next month!

Ah well. After years of shit interest rates winning £25 would be alright
Shame I've just jinxed it forever