alternageek Posted July 2, 2014 Share Posted July 2, 2014 You should look over the NS&I site and see the prize structure and odds of winning : http://www.nsandi.com/products/pb/rates.jsp Didnt know there were two of the £1million prizes each month these days There are lots of myths around premium bonds that are explained on the site, including this : Myth 2: “You have to have £30,000 Premium Bonds to win the jackpot” In July 2004, the winner of the £1 million jackpot had just £17 in Premium Bonds, purchased in 1959, and 8 of the last 12 jackpot winners held less than the £30,000 maximum. The more Bonds held, the better the chances of winning, but this doesn’t mean prizes are won exclusively by higher value holdings. They reckon you'll win 15 prizes a year on average if you do have the £30k max. premium bonds. A neighbour of my mums' won a million on the premium bonds a while back - and it all went within a year. Think they were unemployed for a bit after the dosh ran out as well. If you win, spend it wisely ! My Granddad, by the time he was 82, had that much in bonds and would win multiple times a month - anywhere from £50 to a few hundred Link to comment Share on other sites More sharing options...
Flanker7 Posted July 2, 2014 Share Posted July 2, 2014 It depends on what kind of person you are. Mathematician - NO. Stick it in the best saving account you can find. It will definitely pay better than the average premium bond. Romantic - YES. You might win £1,000,000. & still get your money back any time you want it. Link to comment Share on other sites More sharing options...
Mikes10 Posted July 2, 2014 Share Posted July 2, 2014 According to the NS&I website the chances of winning on the premium bonds is 26,000 to 1. So if you had £26,000 of bonds you would probably win something every month. If you had £2,600 invested then you may win something every 10 months and the prize would probably be £25, that represents about 1% APR. ( Back of envelope calculations ). http://www.nsandi.com/savings-premium-bonds Link to comment Share on other sites More sharing options...
Nagel Posted July 2, 2014 Share Posted July 2, 2014 Nagel, can you tell us who is paying that 5% rate please? I`ve not seen any safe investments paying anywhere near that for quite a while, but would be interested if you don`t mind sharing the details First Direct pay 6% for the first year. Like I said they are restricted accounts, you have to put in £300 per month. Link to comment Share on other sites More sharing options...
Kateykrunch Posted September 2, 2014 Share Posted September 2, 2014 As far as I am aware, the winning Premium Bonds are detailed by ERNIE on the 1st of every month and if you win the Million, Mr or Mrs Millionaire will call at your address to deliver the good news, what I want to know is, what time does ERNIE spit out the winning numbers and what time is the winner notified to Mr/Mrs Millionaire so that they can travel to the winners address. I presume NS&I have a number of personnel around the country who would carry out this task, but, it seems a lot to do in a very short period of time, anyone know what the process is? Link to comment Share on other sites More sharing options...
Mr Bloke Posted September 2, 2014 Share Posted September 2, 2014 As far as I am aware, the winning Premium Bonds are detailed by ERNIE on the 1st of every month and if you win the Million, Mr or Mrs Millionaire will call at your address to deliver the good news, what I want to know is, what time does ERNIE spit out the winning numbers and what time is the winner notified to Mr/Mrs Millionaire so that they can travel to the winners address. I presume NS&I have a number of personnel around the country who would carry out this task, but, it seems a lot to do in a very short period of time, anyone know what the process is? I'm sure there'll be lots of people along soon only too happy to give you the benefit of their first hand experience. Link to comment Share on other sites More sharing options...
Obelix Posted September 2, 2014 Share Posted September 2, 2014 I guess that although they may announce them on the 1st they may generate them the day before so they can get the vistors into the right place in advance.. Link to comment Share on other sites More sharing options...
Blackbeard Posted September 2, 2014 Share Posted September 2, 2014 Try looking here on the 3rd working day after the 1st of the month and put your Bond Holder number in. http://www.nsandi.com/savings-premium-bonds-have-i-won And here on the 1st working day for the big winners. http://www.nsandi.com/savings-premium-bonds-high-value-winners And no, I have not won a big one this month so no begging letters please. Link to comment Share on other sites More sharing options...
Flug Posted September 2, 2014 Share Posted September 2, 2014 Try looking here on the 3rd working day after the 1st of the month and put your Bond Holder number in. http://www.nsandi.com/savings-premium-bonds-have-i-won And here on the 1st working day for the big winners. http://www.nsandi.com/savings-premium-bonds-high-value-winners And no, I have not won a big one this month so no begging letters please. YOU may not have won big this month, but Katie Krunch seems VERY interested Link to comment Share on other sites More sharing options...
Blackbeard Posted September 2, 2014 Share Posted September 2, 2014 YOU may not have won big this month, but Katie Krunch seems VERY interested Some folks are lucky, there is a £25k and a £10k winners from Sheffield this month along with some £1k's Link to comment Share on other sites More sharing options...
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