How's your luck with Premium Bonds?

[MNW67]

OMG this is so complicated, I didn't realise it was so problemsome. I always thought having money would be stress free. I am assett rich but cash poor.

This is a simpler account with the Skipton Building Society. It only pays 3.05%, but you can just forget about it. Also, they are really easy to deal with as they have a UK call centre and UK online chat and they are always extremely helpful. Also, your current bank might have a suitable savings account. Who are you with, if you don't mind saying?

Cash ISA Saver

For rainy days and life’s unexpected twists, flexible tax-free savings you can access without affecting your ISA allowance. View our latest rates.

www.skipton.co.uk

 

[Highway Man]

This is a simpler account with the Skipton Building Society. It only pays 3.05%, but you can just forget about it. Also, they are really easy to deal with as they have a UK call centre and UK online chat and they are always extremely helpful. Also, your current bank might have a suitable savings account. Who are you with, if you don't mind saying?

Cash ISA Saver

For rainy days and life’s unexpected twists, flexible tax-free savings you can access without affecting your ISA allowance. View our latest rates.

www.skipton.co.uk

Been with TSB all of my life

 

[Murdochcat]

I am unsure of Premium bonds, heard of them but never looked into them, I have £10,000 spare and was going to put it in a savings account. If I invest £10,000 is it secure and does it pay interest?

Maybe put £5k into a cash ISA and £5k into PBs

Don’t put all your eggs in 1 basket

No I haven't.

See above. Minimum first purchase is £100 and they have to be held for a whole calendar month before they go into the draw. Once you have bonds you can set up online access to buy and sell bonds. Any investment less that £2500 probably isn’t worth it

 

[gas112]

nationwide do an isa you can access up to 3 times in the year if you need the money and pays 4%

 

[gas112]

if you are buying bonds leave the money in bank gaining interest and buy at the end of the month

 

[Mottie]

nationwide do an isa you can access up to 3 times in the year if you need the money and pays 4%

Post office pay 4.4% and you can access it an unlimited number of times without penalty.

 

[gas112]

Post office pay 4.4% and you can access it 24/7

Do get the bonus if you make withdrawls during the year ?
i see you lose interest if you do
.
.

• If you need to access your money during the fixed rate term a Breakage Charge will apply. If you select a 1 year term, the Breakage Charge will equal 90 days loss of interest. If you select a 2 year term, the Breakage Charge will equal 180 days loss of interest. If the interest you've earned doesn't cover this, you may get back less than you paid in

 

[Mottie]

Do get the bonus if you make withdrawls during the year ?

Yeah. The bonus rate is fixed for 12 months so even if they dropped the base rate to 0,000000001%, you’d still get the bonus rate and remember, the base rate could go up.

 

[gas112]

I think that is for the fixed rate accounts.

I think Mottie was actually looking at the Easy Access one. But the web page wasn't very clear.

yeah i just noticed that

 

[fillyboy]

Any investment less that £2500 probably isn’t worth it

Think the million was won on a holding of under a grand recently. Admittedly thats extremely rare.

 

[ReganAndCarter]

£50.

At least it's £50 more than last month.

 

[Koolpc]

I tried to buy PB's but got refused!!!!!

They wouldnt recognise my paw print!!!!!!!

 

[Justin Passing]

nationwide do an isa you can access up to 3 times in the year if you need the money and pays 4%

Trading212 have an S & S ISA paying 4.6% pa at the moment.
So you can dip some into e.g. Tesla when appropriate, Long or Short (for rising or falling) at x1, x2, x3 whenever you like, even for part of a day. WHen you sell the Tesla, it's back to 4.6%.
You get price alerts on your phone, auto stop-losses (sales), auto purchases, and whatnot.

It does require a little wit for best use, though, so not suitable for some present company.
But if you were sat at the pc with a coffee just before market opening at 2:30pm yesterday
and you noticed the price was rising and there was increasing buying interest (blue line), you might have thunk to have a go.
If you had £10k in there, popped it on, you'd have earned £1k in 10 minutes. Enough for a biscuit.

or £1200 with a bit more care.
Then you sell it and earn £0.17p at 4.6% pa overnight.

 

[motorbiking]

Back to premium bonds. I think I originally had £5,025 worth, 5 years ago. I auto reinvest, - Current Balance is £6075 so that is 4.86% avg. Which given I pay 45% tax, is pretty good.
I was thinking they were pretty useless until I checked. I should buy some more.

Does anyone know what happens if you hold close to the limit and re-invest prize money - are you allowed prize money on top? or its total holdings? I assume the latter.

 

[motorbiking]

Trading212 have an S & S ISA paying 4.6% pa at the moment.
So you can dip some into e.g. Tesla when appropriate, Long or Short (for rising or falling) at x1, x2, x3 whenever you like, even for part of a day. WHen you sell the Tesla, it's back to 4.6%.
You get price alerts on your phone, auto stop-losses (sales), auto purchases, and whatnot.

It does require a little wit for best use, though, so not suitable for some present company.
But if you were sat at the pc with a coffee just before market opening at 2:30pm yesterday
and you noticed the price was rising and there was increasing buying interest (blue line), you might have thunk to have a go.
If you had £10k in there, popped it on, you'd have earned £1k in 10 minutes. Enough for a biscuit.

View attachment 378175
or £1200 with a bit more care.
Then you sell it and earn £0.17p at 4.6% pa overnight.

so you get 4.6% on your cash holdings?