How Much Do You Win With Premium Bonds?

Let’s face it. The only reason anyone ever puts money into Premium Bonds is because they’re hoping for a win. Ideally a big win, but all wins are pretty good aren’t they?

So I thought I would share my experience of owning Premium Bonds for just over a year now and let you know exactly how much I’ve won and my opinion.

It all started with a cool £5,000.

Interest rates on bank accounts had dropped to super low amounts and I really wasn’t happy with the idea of watching inflation eat my money.

So I moved £5,000 into a product that I’ve never really liked. Premium Bonds.

When I moved the money over I was essentially getting nothing at all from my bank so any return from Premium Bonds would have been better.

Winnings In Year 1

I held £5,000 in Premium Bonds for pretty much exactly a year. 

During that time I had two wins. Each one the lowest prize you could win, £25.

That meant my return of £50 had returned me 1%.

This is seemingly better than many people achieve so I can’t complain. I was actually pretty happy with that.

Winnings In Year 2

Around 3 months back I moved another £5,000 into Premium Bonds meaning I now had a total of £10,050 (my £10,000 plus the winnings).

With double the amount of Premium Bonds my chances of winning went up significantly.

The first 2 months passed by and I didn’t win a thing.

Then this month I received a notification of a win. 

I logged in to check, drum roll…

I won a whopping £50.

That’s an almost 0.5% return which is still better than many bank accounts and I’m only 3 months in.

Total Winnings In 15 Months

My total winnings stand at £75 on a £10,000 investment. 

That’s a return of 0.75% in total which really isn’t that bad at all.

Maybe I’ve been lucky but Premium Bonds have now become my default place to store my emergency funds.

Would I recommend putting any money into Premium Bonds? Yes I would, but only to keep your emergency funds or if you happen to have a spare £50,000 that you may need access to very quickly. Outside of these 2 scenarios I wouldn’t touch them at all.