PREMIUM BONDS - august onwards !!!

[Blondeshavemorefun]

Know other thread is near the end

So this is for when previous one is full

I have just over £20k and have won nothing so far this year. Each month I've kept the faith but now it's time to cash my PB in.
I'm going for the Guaranteed Growth Bond instead, I will miss the thrill of the draw each month but I'd rather have the guaranteed 6.2%.

£400 for me on 38k, but a relatively impressive £100 on £1700 for my husband. His second prize this year, which is pretty good going.

Just done the maths... Have broken the 5% barrier for the year on my Jan 1st holdings, which given the fact that the year started at around 3% is not too shabby.

Saw this earlier for those who want interest

Nsandi.com - is this genuine? www.mumsnet.com/Talk/investments/4884842-nsandicom-is-this-genuine

@Roseyleaf all you do with that is lower your odds over the year as you have lost out on a months draw.

@Seasidesusy On 39k that's roughly 3.3% interest

£100 on FH for me. I’m at a return of less than 1% for the year to date which is dismal. Probably would be better off in a current account. I need to seriously think about what to do.

Just added ours up for the year to date, we both have FH. DH = £1150, me £400!! All of our accounts are joint so all winnings end up in the same place but I'm still left feeling a bit hard done by!

I’ve done some nerding on a spreadsheet today, the interest I’ve had on a rolling 12 month basis is 2.5%, the prize fund average over that 12 month period is 2.7%, so not too bad really. That’s on a full holding.

Nothing on 10k. Have slowly withdrew my money and put it into savings for better returns, probably will do with this final 10k too!

We have full holdings x2 and do relatively well month to month but are now tempted by the new fixed rate bond NS&i have issued - 1yr fix at 6.2%. That's a great rate, but obviously taxable unlike premium bonds. Anyone else considering it?

We are @Labtastic, but using funds currently invested through our IFA, where the results have been really poor for the last 6 years. I think the two and three year bonds are worth looking at too.

Hopefully yes @Labtastic its a very good rate. Apparently the Government have set the rate to "encourage" force finance houses to up their measley rates. The bond is taxable but investors get a certain amount of interest tax-free (Personal Savings Allowance for basic and higher rate tax payers) so I'll probably calculate it so I invest just enough to avoid having to pay tax, because it's a pain having to do a tax return.

I think we will probably go for it. On the tax front, I keep trying to find out how the tax is collected (rates have always been so low I've never had to pay tax on interest before) - some seem to say it's done through your tax code if you're employed? I'd much prefer this as much less hassle!

Thanks for the interesting article. Martin Lewis always says that most people will do better investing in other types of savings if you are someone with average luck. The statistic that 3/4 of investors never win anything is amazing.

I only have about £25k in premium bonds and almost nothing in other types of savings. I'd won almost nothing until the last year or so so I am sure I would get more in interest than I ever get in prizes but I do like the fun of hoping.

I'm considering it, but using other cash savings which are currently sitting at a lower interest rate rather than switching my PBs. It means that for the next year my PBs will become the emergency fund in case we need to replace the car or the roof of the house unexpectedly.

I don't have much in bonds but switching to a guaranteed return like that is very tempting. There's an article in the Times about the bonds but I can't read it.

I'm thinking of putting £5K into a Halifax ISA, they've got some good rates now. Also there's the possibility of winning a prize but I can't find anything online about the chances of winning (best I could find was this https://www.thetimes.co.uk/money-mentor/article/best-lottery-style-savings-accounts-to-rival-premium-bonds/) 

I think this point was mentioned on a previous page of this thread - surely there's much fewer people with £5K or more with Halifax than there is with PB holdings (22 million) and therefore the chance of winning with Halifax is higher AND you get a guaranteed decent amount of interest? Has anyone here won anything with Halifax?

I would have no idea how to compare the returns of something you were taxed on compared to something you weren't.

Just invested in the NS&I income bond. Very easy to do and we will get a guaranteed return every month for a year. No idea where interest rates will be in 12 months but this seemed to good a deal to pass up.

£400 here today. Chuffed

Best month for me - £1125 (1000, 100 and 25) on full holdings. Very pleased!

Hubby got £25 on £30k.

I’ve read a few messages on another thread about this bond that it’s hard to transfer large sums, with most bank debit cards only allowing a certain amount per day. As the bond only accepts deposits once, people are setting up several bonds, one per day, if they have large sums to invest.

I am very tempted to put the inheritance I will get when we sell mums house in the next week or so into this bond.

Odds of winning are 1 in 21,000 each month. Which I worked out would be an average of 17.5 years to win with £100!!

@Iggi999

The tax paid can be very different depending on your other income and what sources that other income comes from. There isn't a simple one step answer.