PREMIUM BONDS MARCH 2023

[Blondeshavemorefun]

Other one is almost full so a new thread for us to share all our winnings (I hope) tomorrow for the under £1000k prizes

good luck everyone

Would some one be willing to share how they work? Would it be suitable for setting up for a child to hopefully save for them in later life? Any help or guidance appreciated

www.nsandi.com/products/premium-bonds

Try here

Each £1 buys one bond.
Each bond has a unique number that is put into a prize draw each month.
The prizes for the draw range from £25 to £1 million.
Every bond has an equal chance of winning, despite what some people think.
The minimum you can buy at a time is £25 and the maximum you can hold in total is £50k.
You can cash in your bonds at any time. It’s kind of like playing the lottery but you don’t lose the money.

For a long term investment, like a fund to mature when a child turns 18, there are better ways to save.

The advantage that Premium Bonds have over other forms of investments is that you can get at the money really quickly. With some other investments you can’t make withdrawals for a set number of years.

For me, I like the feeling of possibly winning a prize each month!

Thank you that’s very helpful and informative.
I am looking at a way of saving for our future & my children.

My mum bought £500 in PB’s In 2007.
She’s recently died so I’m cashing them in.

Apparently she’s never won a penny.

I just don’t get it?!

What don’t you get? I’m not that surprised that £500 hasn’t won anything to be honest.

I'm sorry about your mum. It's just like a lottery really but you keep your ticket cost.

Sorry about your mum but tbh £500 is nothing

Yes there is the odd win with say £100 but usually have thousands

So is Sunday knock knock day, as last day of the month? Or tomorrow as last working day of the month?

Just do I know whether to put some make up on tomorrow.

Results aren't until weds may 3rd. Seems really late.

You would think there would be at least 1 win in 16 years despite the holding amount. My sister in law recently won £100 after holding £50 for over 40 years! Better late than never

From my experience, payments tend to show up in your account the following day, rather than the same day. Bonds aren't actually entered into the draw until the following month so don't worry if it hasn't appeared in your account immediately.

So is last working day of the month tomorrow then because of the Bank Holiday?

I’m not sure of the odds back in 2007, but currently there’s a 24,000 to 1 chance of each £1 bond winning a prize. With £500 invested you’d expect to win a prize about once every four years or so. So your mum was a little unlucky to not win in that time, but not exceptionally unlucky. I would just look at that loss in potential interest as the price of being entered into a lottery every single month for the last 16 years, with the chance of a £1 million prize, and it doesn’t seem like such a bad deal.

Monday is May, so would be last working day of April anyway!

If Agent Million turns up today, I'll be back on here to confirm!

As @TangledBlue said, we treat t it as a lottery. I have 800 and won 100, but don't think I will win often, but accept it's a lottery to make it feel better 😂

I'm assuming today as last working day of month agent millions comes

Then due to weekend and bank holiday that on Tuesday we can see if on the over £1k list

Then wed check the app for £25

Getting a bit disillusioned with premium bonds. We have just over 33k and the most we have won in a single month is £100. I could get £90 guaranteed in an instant access. I feel like I am gambling with that amount every month I am in the draw. I keep threatening to take it out but get drawn in with the prospect of winning big.

The likelihood of winning a million has gone down from an article I read but the likelihood of winning 100k has gone up. Why don’t you give yourself a set time limit and go from there. So say you wait two more draws and if it’s absolute crap just move your money.

Had a crap few months with PB, sane with DP. We have £80k in there in total and since Christmas it’s been pretty shit. Before Christmas we were winning a decent amount each month.

Agent Million visits on the last day of the month rather than the last working day. There are numerous articles which mention that it doesn't matter if that falls on a weekend - so Sunday should be the day!

There was an article as well about something on last working day of month - unless that was the over £1k list

I’m more excited about next month! I’ve got 20k at the moment but added 30k last month which will be in the May draw. I’ve got a “ bet” with my financial adviser that over the next 12 months I will have made more money in pb than if I had invested in a fund through him - I’m taking into account his charges to invest my money as well!

It will be fun seeking the outcome! If I lose, then I will consider selling the bonds.

Yes, just discovered one that says it's the last working day. But seems odd as that means it would never be on a weekend. Oh well.. Good luck everyone!