Premium Bonds

  BT 17:40 16 Oct 2009
Locked

I have being buying Premium Bonds over the years and when the Banks crisis reared its head early this year I topped up my holding to the maximum over a period of a couple of weeks.(There is a maximum daily purchase online) In the last 6 months I have won 7x£25 prizes, 6 of which are from a batch purchased on 10th February, and one from a batch purchased last October, but none from any of the other batches. Very strange, as the draw is supposed to be random, that so many are from the same batch of numbers.

  nangadef 17:50 16 Oct 2009

So that's why I never win ;-(

  octal 17:50 16 Oct 2009

Yes, we have notice that as well.

Just as an aside, I was sceptical when we first invested in them, compared to our other savings we are getting a better return at the moment.

  GANDALF <|:-)> 18:06 16 Oct 2009

click here for a look at the odds etc.

G

  spuds 18:37 16 Oct 2009

When premium bonds first commenced, I and a friend of mine made similar block purchases on a regular basis. He had many wins, and I had none. I still hold those bonds, and about three years ago, I contacted the bond office to see if they were still valid and registered. They were and are, but still no wins. Bit like the lottery Lucky Dips :O((

  peter99co 19:51 16 Oct 2009

I have a £1 premium bond and it won £10 in 1972 I have not had a win since. Just bad luck?

  rickf 00:23 17 Oct 2009

I am thinking of taking mine out. 5 yrs and never had as much as a £25 win. No chance.

  Condom 02:28 17 Oct 2009

My mum purchased one £1 bond the first week they were issued (Nov 1956 I think) and never won a penny for the rest of her life. She died in 1999 but when I asked the DNS if I could keep her £1 bond and have it transferred to my name I was told it was impossible to do. They insisted on returning the £1 on receiving proof that I was executor etc and at the end of the day it probably cost them £20 to sort it out.

  BT 08:17 17 Oct 2009

I agree. So far this year I'm getting a return of 1.1%, better than most savings accounts.

On the other hand we saw a Financial Advisor at the bank last week and she guided us to take out a 2 year Savings Bond which has a fixed rate of 4% which will go some way to replace the income that has been lost on our savings with the drop in interest rates this year. As she said its unlikely that general interest rates will get anywhere near this in the next 2 years.

I've found that the FAs/Personal Bankers in the bank will always help you get the best from your savings. When we were in there last week she even moved my wife's small personal savings account to a better paying one.

  Covergirl 10:07 17 Oct 2009

An initial win, say within the first 6 months to a year, then nothing else.

I've often thought about cashing them in and taking out some more but it's a lengthy process intended (I think) to put you off doing so.

  Pine Man 10:37 17 Oct 2009

...my wife and I have about £58,000 of bonds between us and winnings over the last few years work out at an average of about 4%. Most months we have about 3 winning bonds. The most we have ever won is £1000 but we used to get a hell of a lot of £50's up until recently but now it's mainly £25's.

It's the only lottery I know where you get your stake back and the opportunity to win £1,000,000's!

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