Premium Bonds Questions and Answers / Winners and Losers (Part 2)

[mebz]

I've maxed out since 2006....never received anything substantial. Return wise I am managing just above 1 percent. Any think this is a scam on a national level? We've already seen banks rig rates, utility companies rig prices and soon banks to be found rigging commodity prices. Between me and all the guys I have worked with in the past, our collective investment in premium bonds amounts to over £50th with no one having won more than the penultimate lowest prize.

[cjanderson]

1% is probably about right. I mean over 1 million draws you'd tend towards 1.35% but as you most likely won't get a £1m prize, the general rate would be lower.

can't see that its a scam at all. the prize distibution is as it says it is.

Strange, my site for premium bonds says July still

[Q]

Originally Posted by mebz

I've maxed out since 2006....never received anything substantial. Return wise I am managing just above 1 percent. Any think this is a scam on a national level? We've already seen banks rig rates, utility companies rig prices and soon banks to be found rigging commodity prices. Between me and all the guys I have worked with in the past, our collective investment in premium bonds amounts to over £50th with no one having won more than the penultimate lowest prize.

So if you have had 30k in from 2006 and getting 1% so thats £300 then why has it took you 8 years to think its a scam. Its a gamble like the lottery and for people who dont mind losing interest (if they can get any) on their savings.
Just think how much interest you could have earned on that in 8 yrs and compare it to what you won in the last 8 yrs.That should keep you busy over the weekend and take yr mind off it!

[Dxfatass]

Originally Posted by cjanderson

Strange, my site for premium bonds says July still

If you have a NSandI account then that tends to update faster than the regular checker on their website, as that updates your account totals to reflect new bond re-investments. In the last couple of months I've been able to log into that account on the 2nd to see my total holdings up by £50, with a breakdown of two £25s each time.

I patiently await the day I login to see my total up to a nice even £40,000 due to some nice big juicy win and re-investment

[pivotalgubbins]

Mar = £0
Apr = £0
May = £0
Jun = £0
Jul = £25
Aug = £25

Two wins is two months!

Quick query - how quickly can you get money out of the bonds? I have £40k that I'm earning no interest on (max'd out my 123 account, etc) and was wondering whether to have a punt. Given they need to be in for a full month though I'd potentially only be looking at October's draw for the full £40k.

[Dxfatass]

It was two weeks when I started using bonds; I don't think that has changed but I haven't taken any out at any stage so can't be sure. I will take a load out just before the tax year ends (probably after the March draw) to top up my ISA, so I'll be researching the withdrawal procedure closer to the time.

[mebz]

Originally Posted by Q

So if you have had 30k in from 2006 and getting 1% so thats £300 then why has it took you 8 years to think its a scam. Its a gamble like the lottery and for people who dont mind losing interest (if they can get any) on their savings.
Just think how much interest you could have earned on that in 8 yrs and compare it to what you won in the last 8 yrs.That should keep you busy over the weekend and take yr mind off it!

I needed to split the cash around due to bank guarantees not covering me fully. It's been a paltry return across all the banks but other investments luckily have more than made up for it.

[mebz]

Anyway....its all coming out as I will be topping up my nri accounts which will pay about 8.5%...

[Q]

Originally Posted by mebz

Anyway....its all coming out as I will be topping up my nri accounts which will pay about 8.5%...

That will probaly be the week you would have won the Big 1! If the Banks wouldnt have covered you then are you Al Sugar?

[mebz]

I wish I was Al sugar. ....

[jmdomain]

£50 for this month.

Jan - £0
Feb - £0
March - £0
April - £0
May - £75 (3 x £25)
June - £25
July - £0
Aug - £50 (2 x £25)

[nutter45]

Nothing again. Only one win (£100) in last 6 months.

[Arthur Fowler]

Nothing this month

Sep £0, Oct £0, Nov £0, Dec £0. Jan £0, Feb £0, Mar £0, Apr £25, May £0, Jun £0, July £0, Aug £0

[JConway]

Feb =£25
April = £25
May = £25
June = £25
July = £25, £25
August = £25, £25

My investment now
maxed out.

Awaiting the mill........

[Dxfatass]

Still no million for me, but:

January = £0
February = £0
March = £25, £25
April = £25
May = £25
June = £25
July = £25, £25
August = £25, £25
September = £25, £25, £25

[Q]

Originally Posted by Dxfatass

Still no million for me, but:

January = £0
February = £0
March = £25, £25
April = £25
May = £25
June = £25
July = £25, £25
August = £25, £25
September = £25, £25, £25

If I ever get to the point that Ive used all interest paying options up and Ive got 40k spare then Im happy to put it in with that return;-) Although 2 Sant 123 Accounts maxed out pay £80 a month as well so long as you arent a higher rate tax payer.

[Dxfatass]

Originally Posted by Q

If I ever get to the point that Ive used all interest paying options up and Ive got 40k spare then Im happy to put it in with that return;-) Although 2 Sant 123 Accounts maxed out pay £80 a month as well so long as you arent a higher rate tax payer.

I have well under the £40k in there, so I'm rather pleased with the results recently. But I've changed things a bit as I'm now paying into it regularly rather than the odd lump sum when I have a bit to spare. Seems to be working so far though

My parents have bonds also, so I check theirs every month also when the main website updates. Between the three of us we have a tiny bit over £50k, so that's less impressive as they haven't won for a little while - hopefully tomorrow brings something big for them.

[Arthur Fowler]

Nothing this month

Oct £0, Nov £0, Dec £0. Jan £0, Feb £0, Mar £0, Apr £25, May £0, Jun £0, July £0, Aug £0, Sep £0

[JConway]

Feb =£25
April = £25
May = £25
June = £25
July = £25, £25
August = £25, £25
Sept = £25, £25

My investment now
maxed out.

Awaiting the mill........

[nutter45]

Originally Posted by nutter45

Nothing again. Only one win (£100) in last 6 months.

Ditto