Ernie

[retrocop]

Could any one kindly tell me when the Ernie draw is done each month.My wife and I had a good hit on our first valid month last time and am interested to see how new purchases pay frequently and diminish over the years.I had max when I retired but cashed them in to buy a house for my son and family. Just bought a new batch with my wife.

[Tilly2]

The first day of each month, Retro.

[Canary42]

I think they claim results out by end of second working day of the month.

[237SJ]

I don't know when the draw is done (first day of the month possibly) but my last 'winnings' email was received on 3rd May. I have the max amount invested and I only ever win £25 x 2 or 3. I`m thinking it`s a waste of time.

[Tilly2]

How much interest would you earn, per annum, in a savings account, 237?

Interest rates are very low.

[retrocop]

Thanks all for your replies. I thought it might be first day of month or thereabouts.
237SJ
When I went on my Retirement advisory seminar one of the investment options for a lump sum commutation was Ernie.
Not top option but I put Max in. The payments came in thick and fast for the first year and then dwindled until I cashed in 3 years ago. Our next Max issue paid me £150 and my wife £25 on first eligible month.
The trick, so I am told, is cash in when they dwindle and buy new bond numbers. Seems to work for us

[retrocop]

//How much interest would you earn, per annum, in a savings account, 237?

Interest rates are very low.//

Precisely Tilly. My wife (Financial genius that she is) must have squirreled away our savings in several Building societies and achieved zilch interest. That is how I converted her to Ernie. So far she is impressed. :-)

[237SJ]

I heard the rumour about cashing them in and re-buying. NS&I say that it doesn't make any difference as all bonds have an equal chance. I believe that some years ago the prizes changed and they made more small prizes available and less large ones. Hence, I get lots of twenty five quids.

[Tilly2]

I'm quite happy with £25, £50, £75 when the cheques drop through my letterbox. It's a little treat each month. :-)

[237SJ]

I`m not. ) I need to find somewhere else to invest my money. I would be happy if I won a shed load of money on the Bonds though.

[david small]

My wife and I had the max each for ages. 25x2 Or 3 sometimes x4. Often 1x25. Concluded not worth it. On average less than the derisory interest payable. I’ve often suspected that prizes are manipulated, easy done with today’s computers. I am going to cash them in bit by bit.

[237SJ]

I suppose that ultimately, it is a gamble. You could win or you could lose. It's all about the attitude to risk and P Bonds are the lowest risk you can get.

[Tilly2]

Cash' em in David. That gives me more chance of winning a big prize. :-)

[david small]

Will do Tilly2, good fortune to you.