How to sell premium bonds online
Premium Bonds after a year: Were they worth it?
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so one of the most popular videos on my
channel is my look at premium bonds how
they work and how they compare to
savings accounts well i've actually had
my money in premium bonds for a year now
so i've always a good opportunity to
give you an update and show exactly how
much money i've made
in comparison to if i put them in a best
easy access savings account available at
that same time so i put 10 grand into
premium bonds on the 31st of january
2021 so that's 12 months they've now
been in that account one year exactly if
i had put the money into the best easy
access account right now let's say i
opened up an account right then on that
date the rate i was got would have got
was 0.55
which is pretty poor it did get better
throughout the year so maybe i could
have moved the money up a little bit but
who knows but that means i would have
got 55 pounds in interest i would have
got it that would have been fixed that
would have been an absolute certainty
i'd have got that money because
obviously with premium bonds there's
never any guarantee you're going to win
anything but 0.55 for 10 grand well that
would say i would only need to win twice
two 25 pound prices because remember the
minimum price for premium bonds is 25
quid and i'd have been roughly on a par
now before we get into exactly what my
results were and when i got the prizes
uh very quickly just a really important
point to sort of say why 31st of january
was an important date for me to put the
money in why i didn't do it on the 1st
of february for example right because
that would make more sense when it in
lots of ways you start the month or even
in the middle of the month or whenever
it was not i deliberately waited to the
end of the month because with premium
bonds and i do go into detail on this in
my full video so make sure you check
that out after this if you haven't
already seen it um the money has to be
invested for a full month a full
calendar month
before it can be entered into a prize
draw
so if you put the money in on the first
of february
you wouldn't actually be able to get
into a draw until april because the
first full month would have been march
not february because you've already in
the middle of the start of the month
okay so 31st of january meant the money
sat there before february and went into
the draw at the beginning of march that
was the first one i was eligible for so
it's just an important thing to caveat
there which is why we're taking it from
now now technically i've only had 11
prize draws so far there will be the one
in february which would be my 12th try
uh chance to win some money uh and that
might obviously you could sort of say
well give or take a day or two you could
include that in those figures and maybe
you know it might increase what i've got
hey maybe i'd win a million
spoiler i don't win a million pounds
right
but um i'm being really strict here how
much money i've had in the account for
365 days so we can compare it to that
best easy access account so remember
0.55 if i put it 10 grand in that
account i would have won 50 i would i
would have got 55 pounds in interest
so how did i do well it's been really
easy to check the prize winnings as the
year has gone on the nsni app is
fantastic face id thumbprint if your
phone's different open it up really
quickly when there's been a draw
normally the first second or third of
the month it will tell you straight away
whether you want or not and how much
you've won so really quickly really easy
to keep track of this stuff although it
only shows you the last six prize draws
whether you've won or haven't so you do
have to go onto the nsni website to see
your full prize history
so the first draw was in march 2021
and i won nothing no prizes at all okay
bit disappointing but you know we're not
gonna get every single month minimum
price 25 quid it's not possible
second month was april 2021 and i won i
got 25 quid so we're well on the way
already 50 of the way there after just
two months to equaling what i would have
got from the best easy access account at
that time okay fantastic and then what
happened the next month in may i won
another 25 quid so already 50 quid
within having the money in there so
february march and april three months
and a couple of days i'd already pretty
much matched what i would have got from
the best easy access account right this
would suggest premium bonds
was a winner excuse the pun right
june no win
july
no win again so
that start was maybe a little bit lucky
a bit disappointing not to get prices in
the next two months
then it came to august and august
i got two prizes two lots of 25 quid so
it wasn't a larger prize but two of my
bonds won so straight away by august so
that's what february march april may
june july august seven months well
actually no six months actually because
it draws the start of august in six
months i'd already got a hundred pounds
i'd already got a one percent return
after six months
so another six months to go
potential to win big prizes remember
there's up to a million pounds you could
get
how did things go well in september my
prize draw i did win but
this is interesting i put more money in
in the summer i put another bunch of
cash in and it was one of those that won
me a price again just 25 quid again not
one of the big prizes but not part of
that initial stash so we're not going to
count that towards what my return was
over a year
in october
no win
disappointed again in november another
win right 25 pounds but again that was
for the second batch that i got so we're
still at 100 pounds for that initial 10
grand investment
takes into december penultimate draw of
my year the last one obviously of 2021
and i got another 25 pound prize
and
another 25 pound prize that was sadly uh
from the uh new bunch they sadly i still
got some money on that next stash of uh
investments i made but no more on that
initial 10 grand which took us around to
january the last draw that count counts
and they only get 11 draws in that 12
month period um the last one that counts
towards this year uh january 2022
i didn't win any prizes at all
so
my turn out for the premium bonds at 10
grand that i invested one year ago i
made 100 pounds which i'm really happy
with although i made all that money
within six months so slightly
disappointed that i didn't get any more
in the next six months and i decided to
point you that i didn't win any of the
big prizes but i didn't expect to win
the big prizes you know they generally
there aren't many of them there's only
two one million pound prizes for example
and there are millions of people who
have premium bonds so i didn't expect to
get that i had kind of hoped maybe on
that initial run that i would carry on
winning with those but i didn't so uh
hopefully that's interesting to you guys
give you an idea of how it worked for me
if you're on the fence not sure whether
you're going to give it a go
there's no indication that you will get
the same return as me you might get
worse you might get better but it is a
good indicator of how it worked compared
to the other easy access accounts now
obviously that 0.55 that we had a year
ago well actually right now time of
filming this the best easy access
account is 0.71
so you would be wanting to get three
wins
in order for you to kind of beat what
you had uh from what you could have got
elsewhere so that's still i think
average rates of luck you're going to do
that hopefully but there's no guarantee
now if we're going to compare this to
where the best easy access account is
right now
let's say for the next 12 months well
currently it's around 0.71
so yes i would have beaten that again if
i get the same luck
next year
or the next 12 months for that same
amount of money that saves in there then
i'm still to beat it but it does make it
a little bit more margin slightly
slimmer slightly sort of harder to go to
look at and if we do see easy access
accounts improve if we see them getting
better
then there's a good indication that you
might want us to rethink whether your
money stays in premium bonds in 2022
however as ever when i do my monthly
savings updates i will give you the
heads up on what's going on what the
best rates are so make sure if you
haven't already you hit subscribe hit
that notification button and you will
get the latest videos every time they
are released my name's andy webb thank
you so much for watching here are some
more sales videos you might find
interesting
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