PREMIUM BONDS DEC 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 every purchase

Odds of winning £1 million on Premium Bonds at face value are 1 in 2,489,469,818 if you have £25 in PBs.

However most people have more than £25 so the odds depend on how much you do hold.

If you have £100 the odds in any given month are 1 in 49,563,028

£1,000 in PB the odds are 1 in 4,954,991

£50,000 in PB the odds are 1 in 96,839

To win anything odds are 1 in 22000

So providing you have more than £100 you have better odds than winning the lottery 😄

And obviously far better than the lottery - you don’t lose your stake !!!!!!

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 winnings take over FH /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 even £1 won £10k

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 /few 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 or even longer

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%)

In August 2023, NS&I hiked the prize fund to a 24-year high of 4.65 per cent from 4 per cent, a level not seen since 1999.

But it has been steadily falling since, with the last cut to the prize fund to 4.4 per cent from 4.65 per cent in March

From Dec 2024 it will be at 4.14%

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 1/22000 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

To work out your own personal % rate

Take your total prizes, divide it by the number of months and x by 12.

Then divide that figure into your total holding and x 100.

So say £500 prizes in 6 months / 6 x 12 = £1000.

Holdings £30,000 = 1000/30000 x 100 = 3.33% interest rate.

But many on here do have £50k and then consider moving it to an account that pays 4% 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 so that they will def earn x amount of interest

But then lose the what if won a million or £100k

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 😄

Yes, you've truly got shit luck with PB's @Mydogisamassivetwat . Are you going to move the money elsewhere?

No, probably not to be honest. Too much else to worry about.

Also, it looks like we will be staying put and not moving house like we planned, so that 20k is going to go on redoing this house anyway.

When is the next draw? Jan 2nd?

We had £3000 worth of premium bonds for over 20 years and won £50! Cashed them in and put the money in an ISA, the interest doesn't even compare

That is rare @Mydogisamassivetwat

Peacemaking... and thank you.
Autocorrect - I mean placemarking but peacemaking is nice!

@OonaStubbs

I think

AM Comes the day before first working day unless a bank holiday

Nyd is wed Jan 1 so first working day is Jan 2 thur for the list

so does that mean AM isnt Jan 1 nyd as that's a bank holiday and comes Dec 31 nye which isn't a bank holiday

I'm Thinking day before so maybe nye and below list is when I think

AM Tue 31 dec
list thur 2nd jan
App Fri 3 jan

I won a £5000 prize last year, about £6000 in total for the year.

I am the unluckiest person on the face of the earth. No one I know is surprised!

I had £50,000 of PB for a few months until I waited to buy a more expensive house. Won a few £25s.

Then took all money out of PBs and just left £100 in. Last month I won another £25!

Placemarking

DD has had £250 in bonds for over 20 years now. Has won the grand total of £20 in all that time. Waste of space

You were lucky enough to be born in a first world country which makes you luckier than the majority of the world's population.

Thanks @Blondeshavemorefun. Really appreciate you keeping this going. I’ll be having another round of chemo on 31/12 so AM better come find me before the steroids and antihistamines knock me out. I’ll be able to give a decent donation to Maggie’s who’ve been brilliant, as well as treating the family.

You have a 1 in 21,000 chance of winning something. So someone with £21,000 in bonds can reasonably expect to win something every month.

Someone with only £250 should expect to win a prize every seven years.

Hello all and thank you for this thread @Blondeshavemorefun as it reminded me to put more money in.

I'm slightly jaded with it all as I put 10k into PBs at the end of August but didn't win a sausage in Oct (first eligible draw) or Nov. I was hoping to have something by now, even a fiver! So I've put another 13k in tonight which will go through on Monday at 00.04 according to bank app. I hope this means I will have 23k eligible for the next draw? Am I right?

Hopefully yes for feb draw

Or will it be 10k eligible in Dec draw and 23k in Jan? I'm so confused about which month the draw happens!

Ah ok thank you!

Bless you @Bimblesalong

💐💐💐💐

10 for Jan draw

We've had dec already

Just confusing sometimes as it actually gets drawn at end of month but we find out beginning of next month

£23k for feb draw

So that means 3 months of not winning anything so far 😱 I hope my luck changes in 2025!

Our DC have had PBs since they were quite small. Their Granda used to buy some every birthday and Christmas so by the time they were adults they had a lump sum for education/car/house deposit.

When they were very small we introduced a rule that small wins were their own to spend or save but if ever they won over £500 they should share the prize and also save some of it. That only happened twice when they were under 18 but it made them both very happy!

Earlier this year my 30 something DS won £5000. He's saving to move up the housing ladder and could definitely have done with the money so it was one of the proudest moments of my life when he unhesitatingly shared his win 50:50 with his younger sister. That they have so much love and loyalty to each other and that old rule meant the world to me.

It isn't an either/or scenario though and some of us will have multiple investment types.

Personally I feel it's better not to put all my eggs in one basket, I am probably older than you though and remember the financial devastation caused by huge market crashes a few decades ago which makes me fairly risk adverse. My £50K in PB is producing enough 'interest' to drip feed into my other investments and I like the comfort of knowing that £50K is safe although acknowledging that inflation does erode the value in real terms.

@BibbityBobbityToo It isn't an either/or scenario though and some of us will have multiple investment types.

The overwhelming majority of people (probably the 99%) don't earn nearly enough money to max out either an ISA (annual 20k allowance) or PBs (max 50k).