Premium Bonds Questions and Answers / Winners and Losers (Part 1)

Guest 19461 · 17-09-2005, 12:59

Anyone know what time of the month the draw takes place?

Cheers.

cjanderson · 17-09-2005, 13:00

1st i think. results go up on the website from 2nd or so.

Not won anything yet

Guest 19461 · 17-09-2005, 13:04

Cheers, me neither but I live in hope....

cjanderson · 17-09-2005, 13:06

Also, if you buy on 1st of say September, your bond won't go into the draw until the month following you having it for a full month - ie 1st November.

Guest 19461 · 17-09-2005, 13:38

Yes I knew that as I picked some up the 18th of last month and it explained with all the gubbins that came with them.

Guest 16026 · 17-09-2005, 13:43

IIRC, isn't it next month when they start paying 2 x �1 million prizes each month?

Guest 19461 · 17-09-2005, 13:48

Started the 1st of August.

Guest 993 · 17-09-2005, 17:09

I've had bonds since I was born. �9's worth my parents bought me. Was probably a fair bit in those days.

Never won anything over 32 years

.

Guest 75 · 17-09-2005, 17:27

I have a couple bought for me when I was born - 30+ years ago. Won nothing.

Bought some last year - won the following draw.

Bought some more a couple of months ago - won the following draw.

Have heard it said that you increase your chances of winning by cashing in your bonds and buying new ones, although you miss two draws when doing so.

And I play the lottery.

Ragnarak · 17-09-2005, 17:43

As i'm getting given a fair bit of money when I start my PhD i'm going to stick a bit in premium bonds then the rest in an ISA.

Coolio · 17-09-2005, 20:25

I had my first draw this month and won �100!! Cheques come through about this time of the month.

Ragnarak · 17-09-2005, 20:30

Quote:

Originally Posted by Coolio

I had my first draw this month and won �100!! Cheques come through about this time of the month.

Is it ok if I ask how many you had or was it a lucky draw? My gran seems to win about �50 a month but i'm not sure if she's just lucky.

Surely some maths nerd out there's done some kind of analysis of how many premium bonds someone has and the amount they've won over time.

Coolio · 17-09-2005, 20:36

I have 10,000. I think the average interest rate they claim to give is 3.2, so on that I should win �320 a year. So, I don't expect to win again until about Xmas if the predictions are exact. The missus got �100 from just 600 within a year. Some people just seem more lucky than others.

I've only given it a whirl because it seems more tax efficient than a lot of investments. I am going to see how it goes over the next 6-12 months. If return is quite good, more may go in, if not, I will have to reevaluate.

mjb1975 · 17-09-2005, 22:01

I've got �500's worth and I've won a �50 prize so far. Not sure how long I've had them tbh - 2-3 years ish.

riz1 · 17-09-2005, 22:40

my sibs and i have all won back the value of our bonds.
That being said, after that we won nowt!

cloudchaser · 18-09-2005, 08:42

I put some of the stooz money I got on a 0% interest card deal into Premium Bonds. Over a 9 month period if I get even some money I will consider myself lucky

BigDonut · 18-09-2005, 09:02

Quote:

Originally Posted by ND

Have heard it said that you increase your chances of winning by cashing in your bonds and buying new ones, although you miss two draws when doing so.

I know of someone who does this but can't see the benifit. All bond numbers for prizes are picked at random from the set of issued bond numbers. Therefore you have no more chance but miss two draws

GlennSh · 18-09-2005, 09:08

When we were saving up heavily for our house extension a few years I thought to myself "Shares, ISAs or Prem Bonds ?". Took a punt and bought just under 20Ks worth of Bonds and held them for 2 years until the work was finished. Only won 3 or 4 x �50's so didnt exactly win the fortune I was hoping for, but then again would have lost nearly half had I have gone for the shares instead.
Around the same time my mate bought a grands worth and within 6 months had trebled his money.

Q · 18-09-2005, 09:27

A friend has got 20,000 in I think and He gets something more times than not over the year.What Im considering is to put something like 20,000 in but wondering whether I am likely to get better payment from a good interest account than I will from Premium Bonds.With the Premium Bonds then there is the ability to win the 1 million which is drawing me towards the Premium Bonds.

cjanderson · 18-09-2005, 09:29

well your risk is that you don't earn interest at all - you could get 5% on a savings account (4% post tax) which would mean getting �800 a year interest i think.

With premium bonds, on average you get about 3% but it could be more or less.

So depends on your attitude to risk. Once I've got 2k in there I'll stop. better value to pay off my mortgage every month now.