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 😄

Thank you, fingers crossed (as ever!).

£3,450 / 3.75 years is £920 average per year
£920/£50k is 1.84% return

I suppose that would have been a decent rate 2 years ago but less so now!

I won £125 on FH and DH won £100 on FH.

I'm more excited about getting 4 numbers on Thunderball last night. I almost peed my pants as they were drawn!

I'm always a bit behind. I don't keep track by app, preferring to wait for the surprise of opening an envelope to a cheque or in this case cheques!

Returning from my holiday to August cheques - £100 x 2 and £25 from £22,000

@TheOneWithUnagi

Thank you very much.

Agreed , interest rates higher than that at the mo !

I had a horrible run last year only winning 3 months of 12 on £14k

This year I've already won 6 months of 9 so far and for the past 4 months in a row. Not huge winnings but I get a little glimmer every month on the app (mid night feeds at the moment with a baby!)

I used to love getting cheques as you would know by the envelope

Even tho plain white you just know it's a cheq via pb

But my cheqs stopped a few years back

But I've said before my newer reinvested bonds are the ones that win at the moment the £25/50 I get

Not my old bonds

Tho I've dipped into them over the year as pay my tax bill out of them on Jan

I have FH. I was going to cash them in after the August draw (because my money would be better in savings) and then won £325 so decided to wait for the September draw. I won £1,300 this month…

No, it’s not great. An ISA at 4.3% over 3 years with 50K you’d have close to 7K in interest by now. 4 years you’d have 8.5K in interest.

But you’re limited to £20K with ISA’s in one tax year, one reason why some people with FH choose to put their money in Premium Bonds.

Yes but put 20K in one year, then 20K the next and so on. Once you’ve got 50K in there then at 4.3% you’re earning over 2K in interest a year. For the first 3 years as you build up to 50K you’re going to earn approx 4.5K in interest which is already better than your return on PB.

Year 1 with 20K approx £890 in interest.

Year 2 with £40,000 approx £1720 in interest

Year 3 with £50000 approx £2150 in interest.

Year 4 with 50000 approx £2150 in interest.

So in 4 years you’d have almost 7K in interest.

Your money is better off in an ISA if you want better returns than you’re getting on PB.

But, if you have used up your ISA allowance, and maxed out your pension contributions, and still have spare cash to invest, then PBs are definitely a reasonable option 🤷‍♀️

Yes, you could put the money in a high interest savings account, but you'd likely be paying tax on the interest on £50k. At least any PB winnings are tax free. And there is always the chance of winning big.

Some of our excess cash is in PBs and so far this year (admittedly largely thanks to a £1k prize one month) we are at a return of approximately 6.7%.

I win £50 about 4 times a year it seems. My son's pb wins similarly. I reinvest. It's not going to break the bank but the savings pots aren't that great either and as you said - there are people out there who win the big money. One day it could be me 🤞

Place marking for next month- thanks @Blondeshavemorefun

So totted it up and my Dad won £2625 in the year he’s been gone- not his best year but he’d be happy!!

Placemarking. Still in a huff over my null points this month

Tho that's over the odds

think my original post said 1800 ish for FH

lol, we're all trapped in the PB warp - it's like picking your favourite numbers on the Lottery, you daren't ever deviate from them because you just know those numbers will come up on the £125MM draw if you don't pick them one week!

APP - Wed 2 oct

Thats good being the 2nd day next month, sometimes it can be as late as the 4th of the month, which is a torturous wait of an extra 2 days!

Blondes have more fun - can you give a bit more info please? Your dad would have won over £2600 in the time he's been gone. Has he passed away and do you still have bonds for him?
Thanks!

@RichPetunia from the NS&I website

Yes, it is a different envelope to the paper statement showing my monthly investment.

Always a surprise as to how many cheques are in the envelope and of course the amount on each!

It’s me who’s had her Dads bind in for a year! He was adamant we should keep them so we did!!

Not my dad it's @JollyHostess101

Daddy blondes is alive and kicking thank god

Oh you said that 😂

Page hadnt refreshed

So my total holding now is at 45k , I'm
In the draw for October . I'm quite excited to see if I win anything .

Me too, especially with nul points for 5 out of the last 6 months. Am I at the bottom of the scoreboard?

Thanks for the new thread OP.