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Legal, pensions and money

Savings Account or Premium Bonds?

(161 Posts)
Chestnut Sat 07-May-22 15:43:39

I have some money languishing in an ISA which only pays 0.05% interest, so I want to transfer it somewhere else. I can't decide whether to put it in a savings account offering 1.25% interest or dump it into Premium Bonds. Anyone here savvy with money?

Katyj Thu 04-Aug-22 13:27:19

Hi. Does anyone know why it should tell me I haven’t won, then three days later I get a email to say I’ve won £25 ? This has happened July and August.

Ladyleftfieldlover Thu 04-Aug-22 13:38:30

I won £50 this month. I don’t put my winnings back into Premium Bonds but spend it on something specific.

tanith Thu 04-Aug-22 14:07:44

Katyj some months its 3or4 days before the results are announced so if you checked to early it would say nothing.
I won 2x£25 same as last month well pleased.

tanith Thu 04-Aug-22 14:08:57

Too early ?

Katyj Thu 04-Aug-22 14:23:10

Oh thank you. I always thought they were announced on the 2nd of every month ?‍?

AmandaPinkman2 Wed 05-Oct-22 20:51:56

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Grannybags Wed 05-Oct-22 20:54:00

Reported

veejay Wed 12-Oct-22 11:23:37

I bought premium bonds when they first came out.only a £1 and £2 then.but never won a penny.so had them about 60 years
I can't believe they have never come up.but shows how hard it is to win.worse than the lottery
I have c hanged addresses and notified them but nothing.
Couldn't afford to invest what I am seeing on here

MawtheMerrier Wed 12-Oct-22 11:37:20

Or alternatively -pay the gas/leccy bill. ???

Charleygirl5 Wed 12-Oct-22 11:46:43

Chestnut if you are savvy you could make a few £££ by eg if you can, open several accounts online. Most will tell you if you save eg £150 a month for a year you will earn 2.5% or more, Yorkshire BS. Some are offering 4.5% for a year but it is usually a smallish amount like a couple of thousand. If you could keep your eye on your dosh, ie multiple small accounts you could have fun.

I do not have the full amount of premium bonds but I win most months and this month £100. I plough it back in to buy more.