PREMIUM BONDS AUGUST 2024

[Blondeshavemorefun]

New thread and I've been asked to give some basic info. Feel free to add stuff

PB have been about since 1957

Been 30yrs (April 2024) since a million was then the highest prize

nsandi-corporate.com/news-research/news/30-years-premium-bonds-ps1-million-jackpots#

Each bond is £1. You have to buy in minimum of £25 so means 25 chances to win.

Bonds have to be in for a clear month before going into the draw

If you want to cash bonds in then usually takes 3 days to go into your account

Winnings can be reinvested if holdings are under £50k

This means they will go into the next months draw without losing a month

Or sent to named bank account if over /want winnings in bank account

More info here

www.moneyhelper.org.uk/en/savings/types-of-savings/premium-bonds

The best time to buy premium bonds is on the last day of the month, as this means they are only held by NSI for one month and one day, without being entered into the prize draw.

PB to me is the fun and thrill each month of what if I win big and a millionaire - to them hoping win thousands to a day or two later being grateful if win £25😂

I have nowhere near the maximum and probably never will unless I win £50k + on pb

But only takes one £1 to win that million !!!

I love seeing the low holdings win high amounts

We've seen over the years £100 win £100k and £50 win £25k

Maximum is £50k per person so some do have all for family- mum dad and 2 kids so £200k etx

Those on the thread are varying from few hundred /thousand - to 20/30k to full holdings of £50k

Everyone is welcome to join in whether small or full holdings

One would expect if had full holdings of £50k to win something every month and think over the year to earn the same as if in a high interest account to win around £1925 in prizes

If have £5k average luck is £175 winnings a year

Obviously some people have better 'luck' than others and some worse - Ie full holdings and not winning anything a month or two

PB odds calculator below

moneymarvel.co.uk/calculators/premium-bonds/

From google (august 2023) - The consistent winners are the 1.16 million people who have the maximum £50,000.

They hold almost half of all premium bonds and, at current odds of 21,000:1, can expect a monthly stream of tax-free prizes: two a month and three almost every other month, 28 or 29 a year totaling £1,925

From google (Jan 2024) Tho equally With Premium Bonds, for every person who wins £1 million, a lot of people have to win nothing. So the median average will always be lower than the mean average.

This means that, with average luck, most people will win less than the prize rate each year, regardless of how many bonds they hold

But many on here do have £50k and then consider moving it to an account that pays 5/6% if their bonds aren't doing very well as would then def get extra money

But remember savings /interest get taxed

PB and their winnings don't

So they do dither whether to pull out from pb and put in high interest account if not winning anything

If you have PB but not sure if you have ever won esp if moved about a lot

you can write to NS&I. Include these details in the letter:

	Current name

	Current address

	Premium Bond holder number 

	All previous addresses where you might have registered bonds

	Your signature 

You can send your letter to:

NS&I,
Sunderland
SR43 2SB.

There are 2 apps afaik

Cream - prize checker and if won previous month will show a pic - which we all get excited over 😂😂😂

Blue - often doesn't work for me but those who reinvest their winnings say it shows if won the day before app shows 🙀🙀🙀

And to confuse things I have a White app that is a bookmark - which shows info/list 😄😄😄

Now this has been debated on MANY times but seems to be correct

When do we find out if going to get a visit from AM 😂

The two winners of 
the £1million prizes will be contacted by Agent Million (AM) 😂😂 the day before the first working day of the corresponding month.

There may however be 
exceptions to this, such as when the first working day of the month is a 
bank holiday, for example.

So

Day before first working day - Millionaire knock /call

First day of working month - list showing all winners million to £1k winners - which I always put up for those who can't find it

Day after first working day , including weekends - cream app showing all winnings

You can also check to see if have won via this link with your holders number

www.nsandi.com/prize-checker

Hopefully I've covered everything

Good luck one and all 😄

Got nothing for the second month in a row. Just thinking about the lost interest. So hard to know what to do. I'd never pull it all out but tempted.

I say small compared to many thousands

Obv very small is few hundreds

Point is you don't need thousands to win /luck

Agree I can only dream of £50k and wouid only ever get it if won £50k

£5/10/25k would def help as well 😂

I had £1500 to start with. I won £100 twice in June and September last year and another £100 this month. Not too bad.

It would be a great ending to the daft experiment if you now win a lot on what you have left in @OneFrenchEgg - best of luck!

£225 for me first month. So pleased

Nothing again for me on £6K.

There was an article yesterday in the Sunday Times about savings accounts and it was mentioned that the average holding of anyone won’s won a prize is £23,057 and the average holding is £5,185.

Think all now know if won in august

So for September

AM - sun 1 sept
LIST - mon 2 sept
APP - Tue 3 sept

Hi everyone
Sorry - I'm posting here a little off topic but still about premium bonds. I don't know where else to post so hopefully it's ok.

I have some money that will be used at the end of the year for my son's (private) special education school. Does anyone know if I can put it in a PB account for him and then withdraw it (can't use mine)? If I understand it, they are "his" but as the "responsable person" I would be the decision-maker.

Any confirmation or corrections would be very much appreciated 🙏

I feel the same. Got nothing this month and have all my savings in there. Not earning any interest. No prize at all feels like a slap in the face although of course everyone can’t win. But I’m wondering whether I’d be better to withdraw the money now

The best interest paying savings accounts are disappearing quickly:

www.thisismoney.co.uk/money/saving/article-13702767/All-savings-rates-reduced-base-rate-cut.html

Sorry I don't know how kids pb work

I think you are in charge of them
Till they are 16

Then they have them

Sure don't one said they need their own email / bank account

Wonder if you could if had £50k in own one to open for a child and then start saving three for them

But before they are 16 to take out and keep as your money ?

@fretfree you can add and remove money as you please until age 16. The account then disappears from your online account, and your child needs to be set up with their own. The money can be paid to your own bank account (my children didn’t have their own at the time).

Thank you so much! That is really good to know

So tech you can save /have more tries each month for yourself under their name till 15.9 then remove all money if wanted to ?

Yep - bit of a loophole there. I’m sure plenty of wealthy people do. I’m not sure what their children would think of it when they look at their bond record though. My daughter knows her bond money was removed until the time is right.

2 wins totalling £150 on holding of £20K (delayed paying my tax bill by a few days .

Friend had 3 wins totalling £175 on her first draw, with FH

I have £10 in really old paper premium bonds from 1960s. Over 50 years held. No win😢
Should I change them? Are they worth anything as ancient examples of PB do you think?

Honestly don't know

My old ones don't seem to win as much as my winnings that go into the next months draw reinvested

But that's just me

I've said before when I had lots of thousands before kids I didn't win much

And. Is on much less after thousands spent on ivf and extension I win most months

@Tworoads I have one !! Bought for me when I was born. Equivalent of a lottery ticket back then I guess. DH did put the number through the website and updated our details. No win in 53 years! You never know though do you?

Only takes one

Also, NS&I website and Prize Checker - Tues 3 Sept

21 days to go until then.

I mean without sounding awful if you withdraw what benefit would you see from £10?

At least this way there's a chance, every month you see crazy examples where someone's holding something like £15 and wins £50k 🤷🏻‍♀️

Agreed. Just keep small amounts in there. There is always a chance and not worth much in real world

I've just had a look at winners for August.... as I've had to transfer a lot out and now have £2.8k in - instead of £22k. So it got me thinking, I'll most likely have zero wins now.

Out of the winners in August - those with less than £10k in bonds (sometimes a lot less)

3 x £100k winners

11 x £50k winners

Just shows it can pay, and not to give up! I'll be saving again as hoping to get a little job soon.