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30 Nov 09
19:58
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Date Joined:
14 Sep 04
Earlier this year National Savings and Investments informed me they had reduced the minimum Premium Bond win from £50 down to £25.
The reason they gave for this was, apparently, to maintain the average winning ratio of fifteen wins per year for those with a maximum holding of £30,000.
Even though we all know they are a terrible investment at the best of times, I have stuck with my bonds for about twenty years; a combination of sheer laziness, nothing else to do with the money, and hoping against hope for the big win.
Not only have I never received fifteen prizes in any twelve month period, since January my total winnings amount to one solitary £25.
The reason they gave for this was, apparently, to maintain the average winning ratio of fifteen wins per year for those with a maximum holding of £30,000.
Even though we all know they are a terrible investment at the best of times, I have stuck with my bonds for about twenty years; a combination of sheer laziness, nothing else to do with the money, and hoping against hope for the big win.
Not only have I never received fifteen prizes in any twelve month period, since January my total winnings amount to one solitary £25.
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Eh, do you have the 30k in? I had it until about a year ago (when they cut the interest rate for the fund to less than the net interest rate I get in any savings account even net of 45% tax) and I got the yield that was expected. £50 and £100 most months and the occasional nowt.
Premium Bonds are only worthwhile if you are a higher rate taxpayer.
Yes, sir, I have £30,000 with Ernie. It went up from £20,000 a few years ago didn't it?
I think my best return in any one year was ten prizes: nearly all £50 with maybe one or two £100.
This year: one £25 win. I guess I just must be very unlucky. :(
I think my best return in any one year was ten prizes: nearly all £50 with maybe one or two £100.
This year: one £25 win. I guess I just must be very unlucky. :(
I don't think there any good for anybody at the moment Jim. Unless you win one of the big prizes of course!
If you ring up to say you want to cash them all in,you will find that you will win the next month.
I've still got my £30,000 worth.
I win about 10 (now £25) prizes a year.
I printed off the forms for cashing them in when it went to £25 but couldn't be arsed filling them in.
I'm sure they rely on that. If you could just click like when you buy them I would have done it by now.
I win about 10 (now £25) prizes a year.
I printed off the forms for cashing them in when it went to £25 but couldn't be arsed filling them in.
I'm sure they rely on that. If you could just click like when you buy them I would have done it by now.
Hello kohaku. Haven't seen you for ages.
I had £90k because you can buy 30k each for kids too. :D
Ever had a big win?
Somebody in my little village won the £1,000,000 and an acquaintance of mine once had £100,000.
Somebody in my little village won the £1,000,000 and an acquaintance of mine once had £100,000.
30k lol, held for 20years, what a shocking loss
30k from 1990 to keep inline with inflation would need to be 54,900 and thats to just have the same value.
have you had 25k in prizes? mug bonds imo
30k from 1990 to keep inline with inflation would need to be 54,900 and thats to just have the same value.
have you had 25k in prizes? mug bonds imo
Yeah, you need to get out when the rate drops below your net rate on your cash portion at the bank.
Yeah, we're saddo gamblers holding on for the biggie. :|
It was £20,000 for most of the twenty years. Maximum holding went up by £10,000 a few years ago.
I agree they are still a very poor investment though.
I agree they are still a very poor investment though.
What gets me is that the big £1,000,000 prize keeps going to some lucky ** holding a tenner's worth! :^0
They are part of a balanced portfolio for me, I'm sure the same is true for you, PM.
Perhaps you should reduce your holding to a tenner PM...
its sad that city spiv t0ssers can make more money on one bit of sneeky insider dealing over a weekend than a granny holding £20k premium bonds makes in 20 years but thats the world we live in
I bought a grands worth a few years ago. Had them for about 2 years (with no return whatsoever) - then cashed them in to buy my first computer, desk and accessories, for Betfair purposes.
Glad I got rid of them, reading this thread.
Glad I got rid of them, reading this thread.
If you had kept those bonds, Tommy, you might be a millionaire but there would be no pub!
Had £100 worth of bonds since 1997; not won a penny :(
14 000 000 000 / 30 000 = 466 666.667/1 of winning a million with a 30k holding
is that right?
is that right?
^ If thats right your better off investing in a interest account and lotto tickets
PM, I think it maybe that the longer you keep them, the longer you feel you have to keep them, to hopefully show a decent return?
Referring to your shares thread, that's what I've done with both my TSB and Halifax shares - until they've become almost worthless.
More fool me.
Referring to your shares thread, that's what I've done with both my TSB and Halifax shares - until they've become almost worthless.
More fool me.
I don't know whether it's an old wives tale or not but I was always told that you should not keep Premium Bonds for too long as the chances of winning decreased dramatically the longer you kept them. The best thing to do is to keep on cashing them in and then buying new ones...apparently.
Maybe so Tom.
Sorry about your bank shares, sir. I gambled my way out of the mess to some extent, but it wasn't pleasant.
Sorry about your bank shares, sir. I gambled my way out of the mess to some extent, but it wasn't pleasant.
They directly address that concern in their blurb Jim; denying it of course, but it does certainly seem true sometimes.
Were I to win the £1,000,000 tomorrow I would, of course, not hear a word against those wonderful people.
Were I to win the £1,000,000 tomorrow I would, of course, not hear a word against those wonderful people.
Martin Lewis (Him again) says you are better off investing the money in a savings account and buying lottery tickets with the interest.
And we all know how crap the lottery odds are.
And we all know how crap the lottery odds are.
Mathematically, I am sure Martin is correct EGG.
I read about it, PM.
I'm glad you had a bit of success.
I'm afraid my optimism got the better of me (not for the first time) - thinking 'It can't get any worse' when I know (unfortunately) it can - and it did!
Still, there's worse things in life than losing dosh.
I'm glad you had a bit of success.
I'm afraid my optimism got the better of me (not for the first time) - thinking 'It can't get any worse' when I know (unfortunately) it can - and it did!
Still, there's worse things in life than losing dosh.
tbf when I had brought them back in 2003/4 I always got a 50 win when I brought a 1000 on the first "valid month" then nothing afterwards... maybe you are getting into a distrubution of the draw that you would not be holding anybonds in if you did not reinvest them.
No problem with thinking you could of won if you take them out as the bonds are not there to even be selected are they in the next draw?
maybe you should trial do a rolling system on a monthly basis, since its not encouraged to do this having to hold the bonds a full calander monthbefore they are entered in the draws.
No problem with thinking you could of won if you take them out as the bonds are not there to even be selected are they in the next draw?
maybe you should trial do a rolling system on a monthly basis, since its not encouraged to do this having to hold the bonds a full calander monthbefore they are entered in the draws.
It's a pain in the arse to withdraw though.
TWENTY YEARS???
New-Boy!
I've been in since "Day-One" in the 1950's and my £100 have NEVER had a pick-up:(
New-Boy!
I've been in since "Day-One" in the 1950's and my £100 have NEVER had a pick-up:(
Everything's Gone Green 30 Nov 21:41
Martin Lewis (Him again) says you are better off investing the money in a savings account and buying lottery tickets with the interest.
And we all know how crap the lottery odds are.
my post above stating this was just a quick calculation in my head, can you link me where he says this?
Martin Lewis (Him again) says you are better off investing the money in a savings account and buying lottery tickets with the interest.
And we all know how crap the lottery odds are.
my post above stating this was just a quick calculation in my head, can you link me where he says this?
I used to have the full 20k worth back in mid to late 90s. Used to get a 50 most months, and the occasional 100, never any biggies though.
Then I bought one of those big American fridge/freezers and decided to fill it with a load of expensive designer chocolate ice cream.
The remainder of the 20k I simply ploughed into research and development into the possibility of running a car on chicken feathers, after an approach by a man wearing a solid gold hat. I confidently expect a return on my investment in around 2073.
Then I bought one of those big American fridge/freezers and decided to fill it with a load of expensive designer chocolate ice cream.
The remainder of the 20k I simply ploughed into research and development into the possibility of running a car on chicken feathers, after an approach by a man wearing a solid gold hat. I confidently expect a return on my investment in around 2073.
Novo, it was on this page:
http://www.moneysavingexpert.com/savings/premium-bonds
http://www.moneysavingexpert.com/savings/premium-bonds
I see, summerised in the last paragraph well...
[i]Look at Premium Bonds with a clinical financial eye and theyre only worth considering as a serious place to put savings, if youre a higher rate taxpayer, who has used up your Cash ISA allocation.
Yet for those who like a flutter, as Premium Bonds do protect your cash, it's fine to put a non-significant portion of your money in them, more for fun than returns. However before deciding, use the calculator to look at the real odds; and if youre willing to take the gamble after that then its fine.
Many people often think
[i]Look at Premium Bonds with a clinical financial eye and theyre only worth considering as a serious place to put savings, if youre a higher rate taxpayer, who has used up your Cash ISA allocation.
Yet for those who like a flutter, as Premium Bonds do protect your cash, it's fine to put a non-significant portion of your money in them, more for fun than returns. However before deciding, use the calculator to look at the real odds; and if youre willing to take the gamble after that then its fine.
Many people often think
If you have £30,000 and tie it up in the building societ yfor years, you might manage 3% interest, minus tax, i.e about £700/year. Your life will run exactly the same as if you stuck it in Premium Bonds and were incredibly unlucky and won absolutely nothing at all.
BUT, with Premium Bonds there is just a chamce your life could be totally transformed each month.
Premium Bonds every time for me.
BUT, with Premium Bonds there is just a chamce your life could be totally transformed each month.
Premium Bonds every time for me.
I've still the got the same £5 worth I had when I was a kid. That's the sum total of my balanced portfolio!
Had a couple of 50 pound wins over the years.
Had a couple of 50 pound wins over the years.
As we all should know the envelopes arrive through your letterbox on the 17th of each month.
I had one last month,got very excited opening it up,only to find out i had won £25,on that very same day i had won more on a 0.50p permed placepot.
I had one last month,got very excited opening it up,only to find out i had won £25,on that very same day i had won more on a 0.50p permed placepot.
I check mine around the 2nd of every month so I know how many cheques to expect.
Not won the big one again this month :( Who knows maybe next Month :^0
£30,000
PM ...invest it with me and I guarantee you 15 x £25 cheques every year ...( really )
PM ...invest it with me and I guarantee you 15 x £25 cheques every year ...( really )
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