Premium Bonds

percyveer | 21:14 Mon 02nd Mar 2015 | Personal Finance

11 Answers

Is there an optimum time to cash PBs? I do this from time to time in the hope of getting a more favourable set of numbers! I know that the new numbers do not come into play for the first month after purchasing but I was wondering how far into the month are the prize winning numbers drawn. Hope springs eternal!

Tax Allowance.

Lease Extension

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Tilly2

The prize winning numbers are drawn on the first day of every month.

percyveer

Question Author

Thanks Tilly. So it's me for the Post Office in the morning.

Tilly2

Do the Post Office still deal with them? Don't you have to contact the PB people?

Tilly2

The NS&I people, I mean.

coldstream-1971

unsure myself but take a look at NSandI website

Calibax

Every Premium Bond has exactly the same chance of winning as any other. You are not increasing your chances of winning by cashing old ones in and buying new ones. In fact you are diminishing your chance by having to wait a month for the new ones to go into the draw. There is a commonly held misconception that newer ones have more chance of winning because they appear more frequently in the list of winners but this is just because there aremore of them about, older ones having been cashed in etc.
Whatever you choose to do, Good Luck! :o)