Premium Bond prizes

Apricot they should be seen as a gamble and not as an investment.
I've never won anything either.

I have a large block of these which I have had for over 5 years. The return has been rubbish. I bought them when I retired as the interest on savings was so low. I had high hopes for them but have had next to nothing. Once when I was paying a £25 cheque from them into the bank, the bank teller said to me 'do you know I have worked here for years and I have never seen a cheque for more than £25 being paid in'. Some months I have had £50 or £75 - two or three £25 wins. I live in hope

My friend seems to win loads (she's had £500 more than once) - but I suspect she has loads invested in them. My Granddad bought us all one bond each when they first came out - and I have never won!!!!!

The money we have won on PBs is far far far in excess of the interest we were receiving from the Bank. We only have a couple of 1000s in PBs. Its nice to "hope" each month too.

It isn't quite like doing the lottery because you always keep your original money. We put a chunk in recently and have won quite a lot of £25 prizes. It may not be a brilliant investment but at least you can't lose it, unlike some investments we've had, and there is always that chance of a big win.

rosequartz it is now £40,000. George Osborne increased the amount to start around September 2014 and each month now there are 2 millionaire winners. As somebody mentioned, the odds are stacked re winning the lower numbers.

Iv just won £50 big

Oops! I meant DC not DH - although of course anything's possible in the conspiracy theory world!

Yes, that'll be it, apricot - DH commandeering Premium Bond prizes to prop up the ailing economy...

(or to buy arms, or give to his cronies etc. etc.)

With £30,000 in Premium Bonds, if you have average luck
you would expect to win roughly £350 over 1 year, a bit over 1% return on your investment.

You can find out how much you are likely to win with the value of the bonds you hold here. You enter your holding and over how many years and out pops an answer :-
www.moneysavingexpert.com/savings/premium-bonds-calculator/

With £2,000 in Premium Bonds, if you have average luck
you would expect to win roughly £25 over 1 year. Not a very good rate of interest!

Unless you have the full whack - is it £30,000? - in a block, I think the chances of winning are not great.

It's because interest rates are so low that the prizes are not good. They will state categorically on the site what the interest rate is, which numbers win every month, so it has to be legitimate and open to scrutiny.

Giving it to his banker chums

I won £50 in the entire 64 years of having Premium Bonds, bought for me at birth. It arrived at a time when money was very short and absentdaughter's third birthday was approaching, so it was very welcome. As the "draw" is computer generated, I think it very unlikely that it is fixed – and what would really be the point. Premium Bonds are not a good investment – not is the lottery – as the chances of winning a large prize are very remote.

I won £25 x3 this month but I rarely win any more.

DH has one from the 1960's [worth a fiver] it's never come up, but we don't grumble [much] about it.

Apricot

I think your making a conspiracy theory up here.

I have won the odd £25 / £50 Premium Bond but I don't hold them in the knowledge I will necessarily win, do you honestly think you can win every month or so.

I think your best bet would be to cash them in and 'invest' elsewhere.

Premium Bonds are no more than a gamble, the same as doing the Lottery.