Premium bonds - prizes slashed!

[zebedee]

The number of high value prizes has tumbled, not surprising given the interest rate cuts, but the prize fund is now 1.8% of total sums invested. In other words, you would now have to be extremely lucky to win any prize, no matter what your holding is. There was always an air of expectation (followed by disappointment) checking the list every month, but it now takes about 5 seconds because the list is only about 20 lines long. I was just about to buy some more, but think I'll go the other way and be really boring and pay it off my mortgage instead!

[Gun]

I don't know anyone who has won anything on the Premium Bonds, waste of money.

[Steamer]

Bugger!

I like checking mine and the rest of the families numbers every month too.

HOWEVER - [tinfoilhat] The returns / winnings we have been getting have dramatically decreased over the last 4 or 5 months [/tinfoilhat]

When did they cut the prizes? this is the first I've heard about a change.

[Davey111]

I won £50 earlier this year. I didn't even know I had some untill the cheque arrived. Apparently my gran got them for me. Needless to say it was a very good day.

[BoRED S2upid]

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

[Skipppy]

Is there a link to anything official on this subject?

[Gun]

BoRED S2upid said:

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

Most of the members of my family have some and we haven't won so much as a pound.

[esselte]

BoRED S2upid said:

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

How many of them do you have?

[RemaL]

both my daughters have bonds as a gift from there great gandparents and they get the off £50 over other month or so. about £250 A year on avarage

[BoRED S2upid]

Gun said:

BoRED S2upid said:

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

Most of the members of my family have some and we haven't won so much as a pound.

I think you need to have a lot to win every month. My dad has some (Couple of thousand) and never wins.

Lots of topics on here about Premium Bonds.

[Alex97]

My brothers got around £8-10k in them and wins fairly frequently. Only £50/£100 mind.

[Davi]

BoRED S2upid said:

I think you need to have a lot to win every month.

That would explain why I haven't won anything in 35 years...

[StevenJJ]

Premium Bonds - yes everyone claims to be 'up'. Apart from me. I bailed

1.8% is dismal, get Sugar back on to drum up some more adverts with his persuasive shrugging.

[elster]

Gun said:

BoRED S2upid said:

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

Most of the members of my family have some and we haven't won so much as a pound.

I have £2k and win at least once a year. Much better return than any bank can give me.

[bigburd]

Had a couple of £K holding for 2yrs and won nothing for first 12mths then had 3 x £50 this year.

[Logie]

Dad has the 30k block, often gets 1-3 x £50 a month

[gmk666]

I put in a lot (ie, nearly the full allowance) in summer after the sale of my flat. The first month I received £300, but the returns have gone down every month since, including nothing in November. By the laws of mathematics, I reckon I'll owe them money this month.

[Steamer]

Logie said:

Dad has the 30k block, often gets 1-3 x £50 a month

Same as my Dad... £400 on a good month - £150 most months

But as I said above, we have noticed a decline in the second half of this year.

[anonymous-user]

BoRED S2upid said:

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

Hi

I win something every single month and over the last 2 years since ive had them have seen a better return than any bank could have given me.

Me too... and so have my parents!!

[fatboy b]

Gun said:

I don't know anyone who has won anything on the Premium Bonds, waste of money.

A guy at work here won £100K last year. The Mrs hasa total of £150 over 1 year.