Premium bonds - weird coincidence

[potsy]

Nothing for me, wasn't expecting much once my investment went down to under 7k

 

[SpokeyDokey]

Nothing for me, wasn't expecting much once my investment went down to under 7k

Presume you will be increasing it to £7001 then?

 

[MontyVeda]

Thinking of moving mine into a savings account now the interest rates are significantly higher than the 1% they offered a few years ago. I've not had a PB 'win' for 12 months on the trot now, and whilst i didn't put my savings in PBs to earn from them, with inflation taken into account they're just losing value now.

 

[Mo1959]

Thinking of moving mine into a savings account now the interest rates are significantly higher than the 1% they offered a few years ago. I've not had a PB 'win' for 12 months on the trot now, and whilst i didn't put my savings in PBs to earn from them, with inflation taken into account they're just losing value now.

Same here. I have the maximum holding and it’s been poor lately. Same amount with a 3 year savings bond with my current bank (TSB) would give me a guaranteed £170 per month.

 

[glasgowcyclist]

Same here. I have the maximum holding and it’s been poor lately. Same amount with a 3 year savings bond with my current bank (TSB) would give me a guaranteed £170 per month.

You can get 4.51% on a fixed 12 month savings account, which would give you just under £188 per month (although you may pay tax on what interest you earn over £1000). Take a look at Money Saving Expert.

 

[SpokeyDokey]

Thinking of moving mine into a savings account now the interest rates are significantly higher than the 1% they offered a few years ago. I've not had a PB 'win' for 12 months on the trot now, and whilst i didn't put my savings in PBs to earn from them, with inflation taken into account they're just losing value now.

Same here. I have the maximum holding and it’s been poor lately. Same amount with a 3 year savings bond with my current bank (TSB) would give me a guaranteed £170 per month.

You can get 4.51% on a fixed 12 month savings account, which would give you just under £188 per month (although you may pay tax on what interest you earn over £1000). Take a look at Money Saving Expert.

Did this a while back now - don't regret it at all.

I wouldn't keep anything in NS&I unless I needed a source of very quick access monies.

 

[Tom...]

I wouldn't keep anything in NS&I unless I needed a source of very quick access monies.

I wouldn't describe NS&I as very quick access, either.

It is, however, very useful for those have filled their ISAs and are at the limits of their PSA, as the 'winnings' are tax-free.

 

[SpokeyDokey]

I wouldn't describe NS&I as very quick access, either.

It is, however, very useful for those have filled their ISAs and are at the limits of their PSA, as the 'winnings' are tax-free.

3 days isn't it?

 

[Tom...]

3 days isn't it?

Yep 🐌

 

[MontyVeda]

3 days is lightning fast compared to having your cash tied up for 12 months, as with many savings accounts that offer good interest rates.

 

[vickster]

You can get 4.51% on a fixed 12 month savings account, which would give you just under £188 per month (although you may pay tax on what interest you earn over £1000). Take a look at Money Saving Expert.

Or £500 if a higher rate tax payer I believe

 

[Jenkins]

£225 for me this month and £75 for Mrs Optic

Same or me after zero in March.

 

[Fastpedaller]

Just heard Mother-In-Law won £1,000 this month.

 

[Tom...]

3 days is lightning fast compared to having your cash tied up for 12 months, as with many savings accounts that offer good interest rates.

But despairingly slow if you need access in a true emergency, compared with most instant access savers which you can access in minutes.

 

[vickster]

But despairingly slow if you need access in a true emergency, compared with most instant access savers which you can access in minutes.

If that's likely to happen though, best not keep money that might be needed in an emergency in PBs, but in an instant access account. I keep a reasonable amount in an instant saver with my bank, the interest rate is poor even now but I can transfer to current account (and then onwards) if needed very swiftly. Or if I need to pay for something, I just use a credit card if possible. I run my current account pretty lean, transfer a chunk into savings on payday