Premium Bonds

[MissTerious2]

I'm advised that if we invest a decent large lump sum in premium Bonds than we should most likely get wins. How much would need to be invested? We've got a few already and never had any wins.

We don't want to invest any more in Bonds, business Isas etc.

This would be to transfer some savings which have mounted up in a bank savings account.

And can you cash in premium Bonds without paying a fee and quickly?

[ToraToraTora]

davebro, yes you can get more but they move the goal posts all the time and you have to keep moving it about to get the rate or you'll end up on 0.01%. With PB you just reinvest the winnings an forget about it.

[Vagus]

Hi MissT.
We have dosh in other places too, it’s good to spread the risk, but I don’t think you can go far wrong with premium bonds. In the last twelve months our winnings are running at just below 5%.

[MissTerious2]

Tora. Our financial adviser advised us to keep a bit in bank savings i buy some premium bonds a year or so ago, but things happened and did nothing,and our expenditure has been very low for three years. So it mounted up.

[MissTerious2]

And thanks all for good advice. We shall be adding to the £327.00 on Monday.

[barry1010]

I have 5 premium bonds from 1956 that have never won. Thankfully I’m much luckier with the others

[MissTerious2]

But have you got a 10 shilling note, Barry? I've also got some sixpences threepenny bits and a farthing tucked away for emergecies!

[THECORBYLOON]

FIB, the calculator is not working correctly.

The message states,

"As a result of the prize rate changes over the past year, the maths our calculator relies on has changed. It means some of the results, especially if you've £10,000s of Bonds, aren't right. We're working to fix it, but ***please don't rely on the results of this calculator to make decisions about where to put your cash.***" [emphasis added]

[david small]

I won £250 this month. Highest £500 years ago. Wife once won £1,000 last year.

[andy-hughes]

A relative of mine has thirty thousand pounds in bonds, and wins often enough to make it look like a attractive investment.

He has won over a hundred pounds several times in a twelve month period.

[davebro]

and the "winnings" are tax free and don't need to be declared

[MissTerious2]

Not working for me Fibo. On a Samsung Tablet. And as Andy has posted.

[MissTerious2]

And Corby.

[MissTerious2]

Sorry Corby. Andy didn't post it. Just you

[Hopkirk]

They have changed the ratio of prizes recently - more big prizes and less small ones. Your chances of regular small wins are therefore reduced.
That might be why the calculator isn't working at the moment.

[MissTerious2]

Thanks Hoppy. Giving it more thought now. The smaller prizes were what I wanted really. Not that we'd turn down a large prize. Our local animal sanctuary would benefit!

[smurfchops]

What is the maximum you can have, and can the win be automatically put back into more bonds? What happens then, if you go over the maximum amount, do they automatically put your wins in your bank? I would say the more bonds you have, the more you will win.

[cashier]

I have 20,000 in Premium Bonds. They were first put in the draw June 2022 and I have won £425 since then. Not a bad return, I think.

[New Judge]

Maximum is £50,000. Yes you can have the winnings reinvested in more bonds until you reach the £50k limit. Any more than that and the winnings would be paid into your bank.

[Atheist]

Premium Bonds! Guaranteed to win a prize or your money back!!

[MissTerious2]

Thanks all, I'll be investing tomorrow.