Page 2 | To think this is great but can't be right (Premium Bonds )

Eeepsh · 2024-08-02T15:11:03+00:00

We were left some money and so bought £5,000 in Premium Bonds last September. We had nearly £1,000 already so total was just under £6,000. So, in the last year we have won a total of £1,925 (inc this August) which is a % return of about 30%. It's amazing, obviously, but can't be normal can it? 😂 Hope I haven't jinxed it now

Offredismysister · 02/08/2024 18:26

I’ve just looked at the app & I’ve had £850 over the last 6 draws, DH has had £400.

longapple · 02/08/2024 18:20

There's a "how lucky am I" calculator on money saving expert which will tell you how you're doing compared to the average.

RunningThroughMyHead · 02/08/2024 18:04

I have £15k and win around £500 a year on average. I think you're VERY lucky OP!

Over71 · 02/08/2024 17:54

I was given some when they were introduced in 1956.
Add to them via a works scheme in the 1980's

Never won a penny.

Takoneko · 02/08/2024 17:48

I got really lucky in my first few months too and won a £1,000 prize very early on. I have not had as much luck in the years since and I’ve never won such a big prize again, despite having full holdings for a good few years now. However, I win something almost every month and have done pretty well recently. I won £400 this month, £200 last month and £600 the month before.
Sometimes you’re lucky and sometimes less so but with £6,000 of bonds you should win semi regularly.

Takoneko · 02/08/2024 17:41

Polarnight · 02/08/2024 16:29

I have about £75,000 in a non isa savings account and it earns about £221 a month interest. It gets taxed as I'm a higher rate tax payer and I've used the £500 allowance in 2.5 months.

Would I be better with that amount in premium bonds?

Show quote history

Almost certainly better off in premium bonds because of the tax. It’s not a guaranteed return but on full holdings most people will earn a fair chunk more than they would get in in a taxed savings account as a higher rate taxpayer.

I’m presuming you’ve also made use of your ISA allowance?

You can only put £50,000 in as an individual, not the full £75,000. If you’re a couple you could split it between you though.

jasminocereusbritannicus · 02/08/2024 17:31

I have had premium bonds since i was a baby and not won anything! I'm 60 this year!

dizzydizzydizzy · 02/08/2024 17:28

I've got £50k in premium bonds and have won about £2000 in the last 12 months. Although about 2 years ago I did win £850 one month.

ILostMyself · 02/08/2024 17:27

Ds has 25k and often gets £50-£100 a month. Sometimes nothing and I think £150 once (since end of last year). He uses it as bonus spending money while keeping the lump sum safe for the future.

mirrorlife · 02/08/2024 17:24

I win pretty much 5% every year which I’m v happy with (given it’s tax free).

Polarnight · 02/08/2024 17:24

Twinklefloss · 02/08/2024 17:11

@Polarnight yes you possibly would be - so long as you can keep them in for a while as you can’t win anything for first month. So you’re best depositing the day before a draw then you’ll be eligible for the next months draw. Hope I’ve explained that right.

we use PBs to avoid faffing around paying tax on savings interest as highest rate tax payers : have four accounts open for me, dh and dc and it’s where we stash cash that’s needed in the next 2 months to two years.

I can keep them in for nearly a year

2sisters · 02/08/2024 17:24

I've been very lucky. I had £150 for 30 years. I won £50 for the first time this year.

TwoLeftSocksWithHoles · 02/08/2024 17:23

I have £17 (seventeen pounds only) worth, when you used to be able to buy them individually at £1 each.

I have never won anything and suspect that they are stuck to the side of the bran tub...

Perhaps I should cash them in and go out and have a slap-up meal somewhere in London.

JacquiDaytona · 02/08/2024 17:22

How does everyone have so much money?! Mine has 750£ 😬 (never won anything)

LittleCarrot12 · 02/08/2024 17:14

I was gifted PB 40 years ago. Never won a penny.

Twinklefloss · 02/08/2024 17:11

@Polarnight yes you possibly would be - so long as you can keep them in for a while as you can’t win anything for first month. So you’re best depositing the day before a draw then you’ll be eligible for the next months draw. Hope I’ve explained that right.

we use PBs to avoid faffing around paying tax on savings interest as highest rate tax payers : have four accounts open for me, dh and dc and it’s where we stash cash that’s needed in the next 2 months to two years.

Apolloneuro · 02/08/2024 17:08

Interesting! Last I looked, the Martin Lewis site was saying you’d probably make even, so no harm in it if you like the buzz, but not a fantastic investment.

GradGirl · 02/08/2024 17:08

Well done OP! My return is woeful, £50 in the last twelve months on £10k.

gardenmusic · 02/08/2024 17:07

I have 8k in bonds.
Last year I made 9%, but there was a £500 win in there.
This year, so far I am about 1.5%, which isn't so good.

Lochnessmonster2k6 · 02/08/2024 17:06

We both have maximum PBs and have only not won something once. It’s usually around £100-200 per month but have had £300-500 a few times. Keep hoping for a big win one day 😂

PissedOffNeighbour22 · 02/08/2024 17:05

@Mousefoot I wasn't able to do anything online as they hadn't updated my information despite me advising them many times. As my info 'didn't match their records' they refused to let me access anything or set up online access.

grannysbay · 02/08/2024 16:58

Reminded me to cash mine in as I am on about 1.5%. Its so depressing tiny amounts and some months nothing at all

Original poster

Eeepsh · 02/08/2024 16:58

StuckintheRutt · 02/08/2024 16:57

@Eeepsh come over to the pb thread in money

On my way!

OP posts:

StuckintheRutt · 02/08/2024 16:57

@Eeepsh come over to the pb thread in money

anniegun · 02/08/2024 16:55

The average return is 4.4% at the moment, so there are a lot of losers to balance the big returns some people are getting