PREMIUM BONDS

[Blondeshavemorefun]

new thread for when other is fill

this will be for next draw for June 2022 - ans any winners from the the May draw (today)

I won a £25 and a £500. I can’t believe it. That’s about £700 since November.

the kids didn’t win anything on theirs, so I will probably draw the £500 out and split it between theirs

I've received £25 this month, which brings my "winnings" to £75 this year. Still hoping for a big number - I have future plans for it!! 🌹

I started putting money in December last year but only got to max holdings in June and have won £350 so far. My goal was to make more than the measly interest rates offered by my bank which I have totally exceeded so very happy and the three days of excitement a month are fun as well. Kicking myself for not doing this sooner when the interest rates crashed.

£100 for me on full holdings

£125 on 2 x FH in our house for July. Still waiting for the big one!

Another £75 for me this month on full holdings, 1 x £50 and 1 x £25.

£25 for me, £50 for DH, both FH. That's a return of 0.34% this year so far!

4x£25 on full holdings

£25 for me on full holding & £25 for Ds (£25k).

1 x £25 and 1 x £100 on around £40k for me. That takes me up to £250 since February which I’m quite pleased with

£50 on £50k, and £50 on £28k. Not bad I guess.

£75 for me on full
Nothing for DH this month

Have one £125 on £30k in 18 months

🙄

Won

Just won a late £25 on my husband's account. So won 75 in total this month on 46k across 2 accounts. We have won 400 so not far off 1 per cent interest equivalent.

£25 for me and nothing for DH - still tracking at 1% across the year but am going to withdraw some and pay it off the mortgage.

How do premium bonds work please?

Can you lose money like investments which can go up or down? Can you withdraw and take your money back anytime you like?

Thank you.

@eatingasatsuma
No you get back what you put in
Takes maybe 3 working days to withdraw

I’d like to start buying premium bonds so this thread is super useful.

Can I ask what full holdings mean?

Are premium bonds basically like savings account where you buy bonds and then get entered into a draw to win a jackpot? And you can remove your money at any time? Do you have to keep buying bonds or say if you have £25 save, you’ll still be entered into a monthly draw (or however it works!)

Apologies for the questions, just trying to get my head round it!

Full holdings means £50,000 which is the most that a person is allowed to have in Premium Bonds. You can buy more whenever you want, but it has to be in £25 units. You can take money out when you want, I think that also has to be in multiples of £25 (not 100% sure on this). Takes around 2 days to get back in your bank account.

You can't lose the money you put in, so there is no risk like with shares. Instead of interest all of your bonds are entered in a draw at the beginning of each month. There are 2 prizes of a million each month plus many smaller prizes. The smallest prizes are £25 and they are quite common. It's just a gamble, if you have a lower amount in there you are most likely to win nothing at all. If you have full holdings you'd typically win about £50 a month, but could still win nothing for one or more months. So it's like a lottery but the stake money doesn't disappear!

Martin Lewis explains it on his moneysavingexpert website. Where there is a also a useful probability calculator.

Wow so all the people commenting full holdings have £25K saved, bloody hell! Definitely couldn’t relate to that haha.

Thank you to both for all of the I for getting given, that’s been really helpful

Full holdings are £50k.

Anyone else set up their Alexa to report any prizes from each draw?

'Alexa, open premium bonds' to set it up with your holder number.