Premium Bonds - Not a bean for months now!!!!

Premium Bonds - Not a bean for months now!!!!

Author
Discussion

YRRunner

Original Poster:

1,651 posts

180 months

Wednesday 12th May 2010
quotequote all
I have the full £30k's worth in NS&E and haven't seen a cent in 5 months now. Anyone else feeling like their deposit is not working for them?

The Lukas

2,771 posts

158 months

Wednesday 12th May 2010
quotequote all
I'm a little surprised at 30k not getting anything, but with current interest rates it's almost pointless having a savings acount of any kind.

bogie

15,119 posts

236 months

Wednesday 12th May 2010
quotequote all
no doubt you will get a flurry later on in the year (hopefully) ...it is just luck ....I have nearly the max amount and averaged 3-6 wins a month for 3 months of the year, then nothing since ...

ShadownINja

71,540 posts

246 months

Wednesday 12th May 2010
quotequote all
Decided to remove most of mine after I got a similar return. Some say you should keep withdrawing and re-"investing". Sounds stupid but if it's based on a random number algorithm with a seed...

jon-

16,153 posts

180 months

Thursday 13th May 2010
quotequote all
YRRunner said:
I have the full £30k's worth in NS&E and haven't seen a cent in 5 months now. Anyone else feeling like their deposit is not working for them?
Same situation.

Luke.

9,511 posts

214 months

Thursday 13th May 2010
quotequote all
Got 10K and won bugger all recently.

fido

15,139 posts

219 months

Thursday 13th May 2010
quotequote all
Yep, you sound very unlucky .. worse gap i had was 2 months .. then i got £100.

Lost soul

8,712 posts

146 months

Thursday 13th May 2010
quotequote all
My brother has the full whack of PB and gets 50 to 100 back on a regular basis

Tiggsy

10,261 posts

216 months

Thursday 13th May 2010
quotequote all
There is ONLY ONE REASON to hold PB - you like to lend the Government money at sub 1% rates.

It's a noble approach to supporting the economy (it adds £40 billion to the system) but thats about all.....well done for those of you social responsible enough to buy them though (i'm too selfish about lending anyone money on the cheap)

Maxf

8,269 posts

205 months

Thursday 13th May 2010
quotequote all
Bedazzled said:
There's an old urban myth the government uses big premium bond wins to pay people off, doesn't help the odds wink
You certainly wouldn't shout about a big win in Ireland in the 70's or 80's.

14-7

6,233 posts

155 months

Thursday 13th May 2010
quotequote all
Just got £25 today.

Woohoo. That's a few paid for drink. smile

graemel

6,513 posts

181 months

Thursday 13th May 2010
quotequote all
For six months both myself and the missus had the full £30K each in the pot. My business partner had the same and averaged £500 per month. Of course we put them in at the start of the recession and averaged £25 per month. Gary has also withdrawn his lump as well.

Police State

3,890 posts

184 months

Thursday 13th May 2010
quotequote all
someone I know seems to get a fairly regular supply of envelopes from NS&I, I drove him home from a 3 week holiday, and when he checked the mail, there was 5 'wins' on the dining room table. On another occasion this year, he won £25k. I guess in some ways he's just a a lucky guy.

bogie

15,119 posts

236 months

Thursday 13th May 2010
quotequote all
it is just luck, you are buying chances to win with the interest you would have earnt in a good savings account ...thats all

the people with a few hundred quid in, or a £50 bond from 20 years ago, that dropped £1M or £250K in a month no doubt are not moaning about it LOL wink

like anything, you cant win it, if youre not in it ...with a few hundred grand portfolio, its no harm having the 1st £30K in bonds, "just in case"

...but dont rely on them for your pension smile

Ribol

9,339 posts

222 months

Thursday 13th May 2010
quotequote all
The Lukas said:
I'm a little surprised at 30k not getting anything, but with current interest rates it's almost pointless having a savings acount of any kind.
I would rather be getting a little over 3.0% in a savings account than have premium bonds. We had two lots of the max allowance and over two years it averaged out at 1.7% - cashed the lot in.

Yes if you win a big prize it is worth it .................... but I didn't wink

Nic jones

6,787 posts

184 months

Tuesday 18th May 2010
quotequote all
I've got £50 worth from when I was a nipper that I've not bothered to withdraw.

Had a welcome surprise the other day with a cheque for £25 arriving in the post, first time I've won for about 15 years!

bogie

15,119 posts

236 months

Tuesday 18th May 2010
quotequote all
whats the odds of winning the lottery ?

...and thats dead money you cant get back

a fiver a week for 40 years with no wins compared to a fiver a week in a savings account at 2% net (if you are lucky) is about £18K wasted after 40 years for the chance of "winning"

...so I guess we shouldnt bother with the lottery either ....

..thats the problem - people measure and compare premium bonds like "investments"

they are not "investments", they never have been ....you are lending money for chances on a monthly lottery, except you can get the money back so you are essentially gambling that interest you *could* have earnt elsewhere smile

Edited by bogie on Tuesday 18th May 13:42

jagracer

8,248 posts

200 months

Tuesday 18th May 2010
quotequote all
What are you whingers like, I've had £11 worth for 40-50 years and never won a penny. frown

Maxf

8,269 posts

205 months

Tuesday 18th May 2010
quotequote all
bogie said:
whats the odds of winning the lottery ?

...and thats dead money you cant get back

a fiver a week for 40 years with no wins compared to a fiver a week in a savings account at 2% net (if you are lucky) is about £18K wasted after 40 years for the chance of "winning"

...so I guess we shouldnt bother with the lottery either ....

..thats the problem - people measure and compare premium bonds like "investments"

they are not "investments", they never have been ....you are lending money for chances on a monthly lottery, except you can get the money back so you are essentially gambling that interest you *could* have earnt elsewhere smile

Edited by bogie on Tuesday 18th May 13:42
I saw some calculations a while back, and for the money you were better off (substantially) putting your £30k into a savings account and then spending the interest on lottery tickets each week - the return was better and the chance of a big win was much improved over PBs.

It was something like 10 tickets a week, with a 14m/1 chance of winning weekly vs 30,000 tickets a month with several billion/1 chances of winning each month.

Edited by Maxf on Tuesday 18th May 13:57

bogie

15,119 posts

236 months

Tuesday 18th May 2010
quotequote all
interesting...never thought of doing it that way ...I do the lottery too, but have never won more than £80 either

I guess its just fate LOL wink