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Premium Bonds.

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In 1956 when Premium bonds were launched, my dad purchased 1.   AB 036776.

In 64 yrs, never won a prize.. Is that unusual do you think, also how much would that £1 bond be worth now if he had deposited it in a bank ?

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I once worked with someone who held the (then) maximum number : £30,000, from memory.

It was rare a month went by without him winning some prize.

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1 minute ago, RiffRaff said:

I once worked with someone who held the (then) maximum number : £30,000, from memory.

It was rare a month went by without him winning some prize.

Mines due a big win then..

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40 minutes ago, Padders said:

In 1956 when Premium bonds were launched, my dad purchased 1.   AB 036776.

In 64 yrs, never won a prize.. Is that unusual do you think, also how much would that £1 bond be worth now if he had deposited it in a bank ?

Is there a minimum of a £100 stake now?

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3 minutes ago, El Cid said:

Is there a minimum of a £100 stake now?

Dunno about that Cid.

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Check they have your up to date details.

 

There are millions of pounds of unclaimed wins.

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Just now, Litotes said:

Check they have your up to date details.

 

There are millions of pounds of unclaimed wins.

Already done that pal, not won anything.

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If you had £1 - it is still in the draw - it is just that these days, the minimum is £100.

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Just now, Litotes said:

If you had £1 - it is still in the draw - it is just that these days, the minimum is £100.

Or £25 per month

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44 minutes ago, Padders said:

In 1956 when Premium bonds were launched, my dad purchased 1.   AB 036776.

In 64 yrs, never won a prize.. Is that unusual do you think, also how much would that £1 bond be worth now if he had deposited it in a bank ?

 

30 minutes ago, RiffRaff said:

I once worked with someone who held the (then) maximum number : £30,000, from memory.

It was rare a month went by without him winning some prize.

Some interesting stats about Premium Bonds here.

 

At current rates, an individual £1 bond pays out on average roughly once every 2,000 years, so Padders still has a bit of a wait I'm afraid.   Though of course there's always the infinitesimal chance of a bigger win.

 

The monthly rate is once every 24,500 months (according to that site), which ties in with RiffRaff's acquaintance winning most months.  Odds would have been better in the past too.  They're always reviewing the payouts in the direction of a smaller number of bigger wins - the average payout might (or might not) stay the same, but the chances of winning anything get smaller.

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40 minutes ago, Padders said:

Mines due a big win then..

Good luck Pads

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You might as well cash them in, less chance of winning & fewer prizes, come this December, (a million less), but it's up to you?  

 

"With the maximum £50,000 bonds you will now expect a £50 or £100 prize very 6 and a bit years, a £500 prize every 33 years and £1000 ever 100 years.

 

http://paullewismoney.blogspot.com/2016/03/not-so-premium-bonds.html?m=1

 

 

Edited by Baron99

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