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

[YRRunner]

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]

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]

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]

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-]

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.]

Got 10K and won bugger all recently.

[fido]

Yep, you sound very unlucky .. worse gap i had was 2 months .. then i got £100.

[Lost soul]

My brother has the full whack of PB and gets 50 to 100 back on a regular basis

[Tiggsy]

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]

Bedazzled said:

There's an old urban myth the government uses big premium bond wins to pay people off, doesn't help the odds

You certainly wouldn't shout about a big win in Ireland in the 70's or 80's.

[14-7]

Just got £25 today.

Woohoo. That's a few paid for .

[graemel]

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 Gary has also withdrawn his lump as well.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]

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]

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

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

[Ribol]

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

[Nic jones]

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]

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

Edited by bogie on Tuesday 18th May 13:42

[jagracer]

What are you whingers like, I've had £11 worth for 40-50 years and never won a penny.

[Maxf]

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

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]

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