Premium Bonds…..why, oh why…

Well, in 1966 I bought 5 Premium Bonds from Gloucester Road Post Office, they have brought me Zilch!!!

If you have the maxmum (£50K) you should average about £50 per month. Some months you won't get anything and some months you will get more. Most wins are £25 and the odds of winning with one bond are 1 in 24,000. There is the chance of a big win if you are lucky. Equivalent to an interest rate of just over 1%.

My bonds pay out every single month. They provide me, over a 12 month period, with more interest than I would ever get from any other source.
They are not my only source of capital growth but they are by far the best.

www.nsandi.com/help/lost-touch-with-nsandi/check-unclaimed-prizes

www.nsandi.com/get-to-know-us/quicker-prizes

I presume everyone that bought bonds for themselves, children, gc etc. over the past 50+ years has let NSI know every time you moved house. The amount of warrants returned to Ernie marked not known at this address amounts to millions in unclaimed prizes.

For info Ernie got phased out a couple of years ago its now a computer developed by a Swiss company that generates all the numbers in 10 mins a week before the end of the month.

I went through a phase of not winning so cashed in and bought again. Then started winning regularly again. However I do keep a note of those bonds that win (usually buy 3k lots) and if any don't come out in a year I cash in and buy again. I have never won big but I do win regularly, £50 this month.

My dh bought £5 worth of Ernies in the mid 60s, and promptly won £25.

We used to have the max holding each, when it was less than now, and used to win about the same as we’d have got in an instant access savings a/c. And tax free on top.
All cashed in a while ago, though, to help dds with house purchases.

After what D1012 said, I’m tempted to start a monthly direct debit! I used to enjoy checking each month, so I do miss that.

I have won £25 this month and it is always exciting to win. The bank is paying nothing on my savings so this is always a bonus. I saved up my premium bond wins to go for a wonderful meal in Edinburgh last month. Lovely memories made!

Nowt, zilch, dim byd, nada

I won £125 this month and my husband won £25.

Recently I read how remote your chances are of winning, I believe it went into thousands to one even of the lower prizes so really they are a waste of time. Just the government keeping your money and giving nothing in return!

The reason I said it was that she seemed to be doing quite well!

Not very nice germanshepherdsmum!. I think the OP hadn't grasped the fact there are very few £1m prizes and loads of £25 ones and an explanation of this would suffice.

We have had Premium Bonds since 2011 and average about £100 in winnings every year. The big attraction for us is the knowledge that the money is 'backed by the Treasury' so is arguably safer in bonds than the bank. We are now simply reinvesting our winnings and may set up a direct debit as well to see if that improves our chances......

I've only got two from 1965 never won anything. An acquaintance of mine bought 20,000 worth instead of putting it in an ISA and she says she wins something almost every month.

There isn't a draw - they don't have employee of the month sticking a hand into a revolving drum. It was explained to me that the clue is in the title that was used years ago - 'Ernie' bonds; its 'Electric random number indictor equipment'. The 'Ernie' machine, or whatever it is called now, generates numbers that are then matched to holder's bonds. So it's just as likely to create an old number as a new one. Or so I was told. I do remember a lot of unnecessary rubbish at times!

Shinamae

I bought £350 worth of premium bonds about a year ago but have never checked because I thought you were contacted if you won, is that not right?

They only contact you when you win the million. They used to have a ‘Mr Millionaire’ come to your house, but I think that may of changed now due to covid.

The app is available to download and it is easy to use once you have registered. This will tell you how much you have won that month.

Also, they will send you an email around the end of the first week of a new month to let you know.

Then, if you’re lucky, have the money transferred to your bank account or wait for a cheque or even have the winnings turned into more bonds (if you have less than 50,000 invested, that is).

You're doing better than me. I've had 5 bonds for nearly 50 years and never won a penny.

I expect your comment was tongue in cheek, Germanshepherdsmum. I don’t suppose anyone buys a Premium Bond hoping they won’t win £1000,000!
My £50 bought as presents when I was a child in the 50s has never one. I was surprised to see what large numbers of bonds some people hold, no wonder they win more

My gran bought me premium bonds in the 1950's . I have £4 's worth. I won once c 1967, I think it was £10. Time to cash out!

My gran bought me premium bonds in the 1950's . I have £4 's worth. I won once c 1967, I think it was £10. Time to cash out!

I've had bonds since 1963 and not won a penny

I won £25 in July 2020. The last time I won before that was in 1970!

Sounds better than my record of not winning anything.

Got £25 win too - informed by email.

I save monthly for mine, and get a far better return than saving in my isa - I do dream that Ernie will knock on my door one day!