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 😄

Oh @westisbest1982 the. They are very lucky

Imagine winning big twice

@westisbest1982

Wow they must be over the moon. What a fantastic win

Thanks for that @lovenaturelovelife If it is the same person I don’t think it should be allowed personally - it does seem unfair that people are allowed to win big twice in one month.

Thank you

Wow can you imagine seeing two big wins in the app. Luck of the draw 😁.

I love seeing the tiny holdings winning big!

You're a nicer person than me 😂

I'm a blue app checker until I go to bed. Thanks for whoever shared that tip

Could you imagine!! I think I’d pass out. 🤣

Good luck everyone it’s the last draw for my Dad’s binds 12months after he’s passed away and he so loved PB’s so I’m hoping he’ll go out in style!!

@westisbest1982 They have invested FH. So you think that means they aren’t entitled to win a large amount more than once in one month? If people didn’t buy lots of premium bonds it would cease to exist for all of us. Would you return one of the winnings if it were you?

I think it shows that there are so many possibilities with PB. You never know what might happen each month. Congratulations to them and I hope we all get a nice win this month! Good luck everyone.

Just settling in for another evening of disappointment!

Me too 😀

Same! Every month! Although I have withdrawn most of mine. Anyone got a blue update yet?

No blue update for me but I never win anyway so means absolutely nothing

Always surprised / disappointed by the number of London big winners!

My blue update doesn’t usually happen until after 11.30pm, no matter how small, so the excitement continues!

Reviewing investments, I note that NS&I have a regular income product that if you invest the equivalent of FH would pay about £187/ month before tax (4.5% annually but with a monthly payout). Interesting comparison.

I think its perfectly fair. It's kind of the point. Every bond gets an equal chance

I agree. Each bond can win independently of any other bond.

Remember when there was an outcry that a rapist won the lottery? The clue's in the name "lottery".

I had a boy eating ice cream on my last month’s winnings, now I have a picture of a woman with carrots! Does that mean I’ve won something?

Exactly. And imagine if you had 2 lines on your lottery ticket but could only win on 1 line. No one would ever buy more than 1 ticket. Each bond is the equivalent of a lottery ticket.

What's a blue update please?

It’s the app where you can see your bond record, transactions and pending wins.

No it’s just this months picture updated because you won last month it’s still there. It’s not for this draw

Disappointed again! I have FH and in the past four months have only won £50 or £25 each month whereas in the previous four months I was getting over £200 each month! So am getting a much better return in my high interest current account of 4.8%!

But that is before tax and there is no chance of a big win!