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

[Eeepsh]

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

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.

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.

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.

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

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

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

@Eeepsh you are now officially my PB hero

Right, now off to the app to see whether I missed Agent Millions the other day...,

I have £13 worth, bought when I was a baby. That's over 50 years of never winning a single thing!

The amount of PB prizes given out isnt a secret. Some people will do better than the average and some worse. Most people won't get the average rate.

Never won ..:daughter has won numerous times. I bought some for my other daughter..she’s never won - I shouldn’t have touched them I don’t have any luck!!

My Mum and BIL both win regular small amounts grhh

Had 50k in PB for about a year, and most I've won is £375, least is £25.
I don't think I've had a month yet where I've won nothing, but my DH has with same holdings.

Overall it works out a little more than our other investment accounts, but annoyingly they can be really hard to get money out of (especially ISAs) and with us just buying a new house, PB is actually the easiest to withdraw from, so we'll have to drop the buzz for a few months 😟.

@TwoLeftSocksWithHoles @Ivesaidenough

Thought you both might like to know that someone with a £2 bond (that's all they had in total) purchased in 1957 won £5000 this morning. 😃

You just never know!

I know mine by heart and also my husbands! 😁

I won £200 this month and it's extremely rare that I don't win anything. I have won £5800 so far.

i have just over 4k in the last nearly four years i’ve probably won 350 in total. so you are doing amazing

Actually that just makes it worse. 😭

Yes I've already maxed out the isa allowance.

So with £50,000 in what are the chances I'd make nothing from premium bonds?

Slim to none, assuming you keep the money in for a while so that it averages out. With that much money you should win something a few times a year. I mean theoretically you could toss a coin 100 times and never get heads but it doesn't happen very often

We gave all our GC £100 when they were born, our GS has won £500 recently. I've got maximum and win something most months, DH has about half that and often wins too. We put all our winnings into his pot, it's easy enough to get if we need it

Same here, except I'm even older! The thing I think is unfair about them is that on death they cannot be inherited, they have to be cashed in for their face value.

@Eeepsh youve been very lucky! We’ve got the full £50k and average £200 - £300 a month - had them about a year and have won something every month.

The first month we had them I looked at the big winners and someone who had £300 worth for 2 months or so won the million! So it really is the luck of the draw.

enjoy it!

DS2 has about £3k in his and wins £25 pretty regularly ( about once every 2-3 months) and sometimes £50. He won £100 a couple of months ago. DH has £10k in his and hardly wins anything!

We have 70k+ and the return lately has been extremely poor. Last month £25 on 50k holding and nothing on the 20k bonds. 50k bonds went 6 months with a NIL return. There's a chance of a big win but in my opinion not a very good investment avenue.

Why unfair? The inheritor just reinvests the money albeit missing one month's draw.

We have some I’ve never checked! How do you do that?