Premium Bonds

[Pete]

I have bought & held premium bonds for 20 years, close to the maximum, until recently when the ceiling was raised.
Every time I won a prize I kept a record and my average statistic over these years is 0.43 wins per £1,000 invested.
Since the popular prize today is £25 that means winning £10.75 per £k which is equivalent to 1% gain ( MINIMUM ) tax free.
Of course you can win ( occasionally if lucky a bigger prize ) and my biggest win was several years ago at £500.
This does not affect my stats as I count wins not prize money.
Not a terrific gain BUT at least you keep your cash - unlike the Lottery.

 

[ARGAR]

Won 75 quid over the last two months

[Pete]

On 30/03/2017 at 12:17, ARGAR said:

Won 75 quid over the last two months

Lucky - I seem to be getting overlooked by Ernie these days since they decided to pay out even less.
Decided to have a punt with the postcode lottery now that costs £10 per month but what the heck !

[TangoTango47]

I moved a few thousand into premium bonds recently. With interest rates below 1% and the recent change making all savings interest tax free, it seemed pointless having it sat in an ISA any more.

I'm eligible for my first draw this month so let's hope ERNIE is kind to me.

 

 

[ARGAR]

125 this month! 

5 lots of 25 quid.

Total of 200 quid in three months.

[TangoTango47]

£25 for me, in my first draw and on my birthday too. Equivalent to a full years interest at high street bank rates so anything else is a bonus now

[Pete]

Just checked - a £25 and a £50 win this month - about time too.
With low interest rates at many banks like NatWest you would need to deposit £75,000 for a year and then possibly pay tax on the £75 interest.

[SilverTanner]

Nothing for me this month?

They have certainly beat a High Street savings account over the last year though!

ST

[Paul]

Three Times the Square Root of Sweet Felicity Arkwright for me from EARNIE this month !

But i did withdraw £200 worth to put towards x3 Peter Rabbit proofs I got - so swings and roundabouts i suppose