An update from the Chancellorās Budget:
Anybody invested in these before, or will consider it in light of the upcoming app?
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The ācashā element of my portfolio is in premium bonds. I donāt consider it an investment, more akin to ācash under the mattressā, except with the chance of winning something.
Interesting that people other than parents and grandparents can gift bonds to children as Iāve always wanted to buy them for my nieces and nephews.
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Itās worth bearing in mind that the nearest thing Premium Bonds have to an interest rate is an annual prize rate, which means āon averageā the annual return is 1.4% ā but in reality, this is just a vague benchmark and thereās no guarantee youāll win anything at all.
Have you found this to be true? Has your win rate translated into an annual return of ~1.4%?
And I agree, the gifting update is also an interesting development for sure.
I have an annual return of 0%.
But I also have an annual loss of 0%ā¦ and a tiny chance to actually āwinā biggerā¦
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You have a net loss of 2 to 3 per cent, which you pay for the risk-free asset 
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So itās essentially a lottery with no downside risk other than inflation erosion.
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Thatās exactly what it is.
On the contrary, my net gain is up by about 10% due to the fact it appeases my wifes desire to play the lottery 
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Iāve won a few small prizes this year but this works out at <1%.
I have had one year when it was over 2.5% but that was a one-off!
Yes, that what it is, plus any winnings are tax free.
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I think youāve described most peopleās experience with Premium Bonds. FYI, I hold around Ā£13k and have won 5 x Ā£25 prizes this year, so I guess Iāve been a bit lucky!
As Iāve mentioned before, itās the only cash element of my portfolio, otherwise Iād be 100% in equities, so Iām fine to lose out a bit to inflation. These are funds I would tap into if in dire emergency.
Yes, I use this and as you say, itās very basic, The updated app will probably be fully integrated with your account and allow you to buy more premium bonds without going via their website. Like you, Iām not sure itāll make a difference to me either as Iām not planning on buying any more.
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Yes, fingers crossed! 
#inittowinit
Have you considered Marcus by GS? With a 1.5% interest rate, youād be looking at ~Ā£195 for the first year & ~Ā£175 thereafter at current rates.
Do you have Ā£13,000 in there because youāre happy with the trade off of potentially winning big over say a guaranteed interest rate on your cash savings?
Edit: how easy is it to liquidate Premium Bonds?
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Iāve got a fair few PBs and this is the big plus for me as opposed to a cash account.
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Yes, this is the reason. From the calculator @PigeonStrangler posted, with average luck, I should win Ā£150 in a year so not that far off from sticking it in a Marcus account.
Liquidating them usually takes a few days as it can all be done online.
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Can anybody else match my winnings this month ā¦
Ā£0.00p
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Snap! 
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I had a couple of grand in them from 2005 to 2007 and made a 10% return. Absolutely lucky.
edit: typo on the year!
Today I won 0.25% on the amount I have, canāt really convert it to annualized return yet.
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With shares still tumbling, itās great to start the year with a Ā£25 win on the good ole premium bonds!
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Nothing for me at all last year 
