well my Dad had (still has although he passed away in July so can only be held for the year) over 19,000.00 in premium bonds.apart from this month and April of this year,he has won twice or three times each month (50s and 100s)
Dh and I both have the max amount allowed in Premium Bonds.
We win every month - at least £100 each.
We have had them since Aug 2006 and opened a normal bank account to put the 'winnings' in (as we could not pile them back into further bonds). That account now stands at £6100 (give or take interest).
So a return of approx 10% - not too shabby!
We also bought some for DSD (feeling guilty as she doesnt have CTF). We opened it with 1K, put in £50 per month and put back in any winnings. She has won twice, £100 and £50 in the same amount of time. Obv the more you can invest the better the return is - much better than a bank if you have a lot to invest, but frankly even with a smaller amount I think it is worth it.
Daisy, yes definately (mind you its 2 yrs actually, they dont go to the draw until the next month after you first invest, so the first draw would have been Sep 06) - however there is also the chance of winning BIG that makes it more fun! We could put it in a bank, but where is the fun in that - plus interest rates change so often in a way this feels like a more regular income
Mrs Mattie, sorry, wasn't dissing you . Believe it or not it's actually rare not to win every month if you have the max amount invested - and I assumed LL would be investing that kind of amount.
We have three lots of £20+k (dh, ds and me). They were bought at a time the stock makret wasa bit flaky with the intetnition of being flexilbe and being able to get at them easily - and we never got round to moving them.
Initially £20k was the maximum, but once they lifted it to £30k we started re-investing: it means that any winnings go stright into the next draw, instead of having to wait a month.
Not sure how much we have now but we avergae £2-300 a month, which woorks out at a reasonable tax free return - but not specatacular by any means. It's usually a combination of £50 or £100 - never won anything larger.
Last month was the first month we didn't win anything acorss all three accounts. Hopefully next month we'll get a bounce back!
i have the maximum bonds and win most months, i had 6 wins one month i only ever win the £50 and £100 but it is nice checking online each month to see if you have won, steve had some bonds and he didn't win much at all.