PREMIUM BONDS AUGUST/SEPT 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 then 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 and £1 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/

Or this one is quite good as shows the interest rate of the winnings - obv anything over 5% is good as if in an account you wouid be taxed so be more like 3.75%)

www.candidmoney.com/calculators/national-savings-premium-bond-calculator

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

Seems the higher the winnings the earlier it shows and can be from 6pm the night before the 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 😄

I only bloody won £100!! First win ever and I only have £700 holdings!! Nothing for my relative who I am POA for and they have £15k!

My sister and I found we had a pb each from our Dad, he died and we have £10 each bought in the mid 60's, never won a penny.
We finally got them updated to our married names and addresses, and got the app to check, but nothing.
So are ours useless seeing they are under £25?

No, they're not useless @MrsCarson - each £1 is a single entry into the draw every month. It's just that you can only buy a minimum of £25 now.

You could take them out / leave them in / add to them.

And don't lose your money I like the lottery

Nah its patronising to come and tell everyone you think ISAS are better..

@Chocolatelover13 I'm pretty similar I got made redundant and probate completed for my Dad so trying to minimise tax too!

£0 on FH, not very good at all!

£50 for the second month running. Last month I had just shy of £20k, this month £15k.

£75 here on £16k
Very pleased!
Some good wins this month from everyone.

£25 this month, on a holding of c.£47k.

I bought some more to increase my chances, may as well. I'm not going to cash them in it was nearly a weeks wages for my Dad to buy us a £10 each back day.

£750 on FH here. DP has £225 on FH.

I've won £50 again. This is my second draw. I've still got less than £3000 in bonds (though I will add more each month).

So pleased for everyone else getting prizes this month. A boost to brighten the start of these darker, wintery months!

Nothing for me but £25 for my DH first draw - better than nothing!

£175 this month and £225 last month on FH.

I've only been doing this for these two months and am happy so far. It's more fun than an ISA and I had a payout from work so have maxed those out anyway.

Sparkler man and £25 here on just over £5k holdings. Have recently put more in but not in the draw until next one.

Apologies to the old hands if this has already been covered at length in past threads but, as a fairly new PB holder of 8 months (not counting the tiny one bought as a gift in childhood and not yet identified), I found it interesting and slightly worrying!

I mentioned in a pp that I thought my county appears much less in the HVW list and so seems to have less good luck on the PB winning front. From a quick online search it seems that there might be something in that, at least according to OLBG (I hadn't heard of this before, but it is apparently a UK-based mainly sports online betting guide and community platform) and reported by the Metro.

OLBG list the top twenty PB winner locations in 2023 and chances of winning:

1. Essex – 3.84% - 11,000 winners totalling £33.6million in prizes
2. Kent – 3.49% - over 10,000 winners totalling £29.4million in prizes
3. Hampshire & Isle of Wight – 3.40% - 9,976 winners totalling £30.9million in prizes
4. Surrey – 3.23%
5. Outer London – 3.16%
6. Inner London – 2.55%
7. Hertfordshire – 2.55%
8. Devon – 2.47%
9. West Sussex – 2.33%
10. Dorset – 2.07%
11. Suffolk – 1.71%
12. Buckinghamshire – 1.69%
13. Lancashire – 1.61%
14. Wiltshire – 1.52%
15. Hereford and Worcester – 1.47%
16. Cambridgeshire – 1.44%
17. Derbyshire – 1.42%
18. Gloucestershire – 1.41%
19. Lincolnshire – 1.40%
20. East Sussex – 1.40%

If accurate, it may be time for us all to move to the South East! <listens for a thread stampede>

Is that geographical spread not just a reflection on relative incomes/wealths, and population density, though? People in the SE are maybe more likely to have money available to put into PBs, hence the higher number of wins just because there are more bond holders than in, say, the North East?

Those higher results certainly seem to tally with the kind of wealth that would likely be in those areas. I suspect there are many more premium bond holders from the south overall.

Yes I thought those would be factors too @RockaLock @Happiestathome rather than just better luck. Interesting though.

Where are the matching sets of data that are the overall values of holdings per county?

I'm guessing essex
And Kent are too as they have wealth and Many have £50k

Apart from me. I'm poor

What does the % there represent? My county isn't on it yet I feel my "luck" in this is pretty average.

Somewhere has to be top and bottom.

www.nsandi.com/get-to-know-us/about-premium-bonds

This explains how the draws are done. I can't see any way where county would affect the result of a random number generator. Unless those rates are adjusted for holding values, it's likely they just reflect more affluent areas in the south of England where people have more money!

The percentage seems to be the chance of winning. It all appears to have come from analysis of ONS data, if anyone has the time and is interested in looking for that.