Have had a couple of hundred pounds of the above for nearly 20 yrs. Never won a thing. On checking winnings it appears those who have won hold them in the 10's of thousands. With only 200 I don't stand a chance in hell!! Might as well close the a/c and put the money with the raise of my meagre savings. What do you think??
HondaMan, 4% is a very good result, much better than I do.
rickf, of course if you have the max amount you are likely to win more prizes but that needs to be equated with what could be earned from other investments. It is the percentage return that matters at that level of investment.
If you have a few hundred you may as well keep them in my opinion, like the lottery very little chance of winning but not costing you anything other than a few pence in interest a year. Maybe buy some more is another option.
My wife seems to land £50 wins fairly often. She doesn't hold the maximum allowed, but certainly more than £10,000. She watches the performance like a hawk, and says she'll cash in when the return falls lower than she could get elsewhere.
We started buying Premium Bonds when we realised just how much we were putting into buying Lottery tickets - £8 a week - and getting absolutely nothing back. We started off buying £200 every few months, then when interest rates dropped through the floor a few years ago, decided that there was little to lose by investing in the maximum amount of Premium Bonds, at last we were saving £8 a week. We have £35000 total between us.
So far we have done fairly well averaging about 3% p.a. tax free return over the last few years. So far this year we have won 15 prizes, mostly £25 but including this month £100 & £25. Much better than the Lottery and we still have our stake money.