Premium bonds

Gareth Barry Conlon said:
Top tip. If you post up how much you have won without saying how much you have invested or what average % return you are getting then it's pointless.

Also if you are not getting 4% or more then you are better of with a Building Society savings account.
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But how boring is that?
 
jimharri said:
Didn't realise that they were still going. They seem to have been around forever. Has anyone on here won a middling decent prize (say, four figures)?
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No -I got c£25 out of the blue about 2 years back and Mum signed me up to mine in the 1960’s
 
I actually looked them up c5 years or so ago thinking I might have missed out on some winnings over the years (since the 1960s) -but No -there were none
 
city2 said:
Is it worth getting 20k worth of bonds for 6 months cos that’s when I need to use it for, banks offering shite rates.
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Beware though, you don't get a guaranteed rate by any means, it's all probabilities on how many bonds you own vs the total prize pot. Once everyone has been paid, the overall total premium bond interest rate is 3.8% or 3.6% as of today.

The attraction for short term investors, say a year or two, is that you will probably get around 3.5% BUT you might get significantly more through luck, in a really short time. It's like saying "I'm not too arsed at a decent interest return because I'm taking the chance I win quite a few grand for 18 months investment". Furthermore you can withdraw money quite quickly (few days)

Beware though, over 6 months there's a slim chance you'll get nowt. My first 6 months on £20k i got two prizes (of 6 draws) totalling £200, that's it. It worked itself out after about 15 months.

I'm thinking of stopping very soon though, to use the money on personal projects. I rolled the dice for a prize as i knew i wanted the money in autumn 2025.
 
city2 said:
Is it worth getting 20k worth of bonds for 6 months cos that’s when I need to use it for, banks offering shite rates.
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I would but I'm no financial wizard...did it with the covid bounce back loan (£27k) and made over £900 free money then sent the loan straight back on the last day. It's easy as well.
Just bought £1000 worth yesterday before this months cut off.
 
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£225 for me this month, 12 month rolling return now a reasonable 3.19%
 
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