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Original poster

Premium bond timing of investment question

12 replies

RoyalImpatience · 15/07/2023 08:02

I noticed yesterday when I buy someone before the end of the month they get activitied the following month but say on 3rd of month they have to wait a whole 2 months today for on? I've got some that won't be activated until Sept?

OP posts:
Grrrpredictivetex · 15/07/2023 08:37

I think if you buy them after the monthly draw you have to wait. So yes next draw in August you'd be barred from, but you'd qualify for the September draw which is around the 3 of the month.

Silkierabbit · 15/07/2023 08:46

Yes when I took some out month in didn't count, next month they didn't get entered, 3rd month they got entered.

CatsOnTheChair · 15/07/2023 08:49

Yes, they are very clear that the bonds need to be in place for a month before they can be entered in the draw.

Original poster
RoyalImpatience · 15/07/2023 14:28

But I put some in literally around 29th month and then 1st or just after and 1st ones won't be entered still Sept

OP posts:
Silkierabbit · 15/07/2023 15:32

Yes that's what I found it was nearly 2 months with nothing before at the end of the third month they were entered, a month more than they say.

fancreek · 15/07/2023 15:54

RoyalImpatience · 15/07/2023 14:28

But I put some in literally around 29th month and then 1st or just after and 1st ones won't be entered still Sept

Yes that's right. You have to hold them for a calendar month before they're eligible.

So if you buy some at the end of June they'll draw in august. If you buy them at the start of July they'll draw in September

Loverofoxbowlakes · 15/07/2023 16:03

Them's the rules!

Silkierabbit · 15/07/2023 16:07

Yes checked mine, put money in start of Feb, didn't get entered until April then didn't win anything until June even on 50k.

Original poster
RoyalImpatience · 15/07/2023 17:51

Wow ok
So it works from 1st month so I'm better go re gig my money going into it before they 1st then?

OP posts:
BarbaraofSeville · 15/07/2023 18:25

Yes, keep the money in a savings account until late in the month and then buy then. If you buy early in the month, you're losing a month's worth of interest. If it's a small amount of money, it doesn't matter that much, but 30 days of interest on £10k in a decent instant access account could be £20-30 of lost interest.

Original poster
RoyalImpatience · 15/07/2023 22:43

@BarbaraofSeville

I'm talking 150 pounds sometimes before 1st and sometimes 200 after.... Into pb not savings but yes it seems like much better to do it before rhe end of rhe month.

To me if I put it in 3rd July a month later is 3rd August not Sept. Hence my confusion

OP posts:
fancreek · 15/07/2023 22:55

A month later is the 3rd of august but if the august draw has already happened by then, then it can't be in it!

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