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I’m getting fed up with premium bonds.

Discussion in 'General Discussion' started by Mottie, 2 Jul 2020.

  1. Mottie

    Mottie

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    Nothing last month, £25 this month. Over. £60k's worth between us and I’ve worked out that I could be getting £947 a year in interest if that was in one of our ISA's. That’s equivalent to three wins per month, every month. Seriously tempted to move a chunk of it.
     
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  3. noseall

    noseall

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    It's crap everywhere for savers, presently.:unsure:
     
  4. motorbiking

    motorbiking

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    Where can you get higher interest in a cash ISA
     
  5. Mottie

    Mottie

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    Ours have just renewed on a one year fixed with Cynergy bank at 1.48%. We still have a window to add to that. Even NS&I are paying 1.1%.
     
    Last edited: 2 Jul 2020
  6. motorbiking

    motorbiking

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    Hmmm I think I need to move some cash to ns&i
     
  7. Notch7

    Notch7

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    you must sell your premium bonds immediately

    .....more chance for the rest of us!

    Ive only had a few £25 wins this year -on £50k

    actually just checked -won £25 this month -July
     
    Last edited: 2 Jul 2020
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  8. crystal ball

    crystal ball

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    £150 between us this month
     
  9. Mottie

    Mottie

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    Ignore that - checked again and it was 1.48% last year. The loyalty rate for this year is 1.1% Still might take £20k out each and put into our ISA's *NS&I is 0.9%
     
    Last edited: 2 Jul 2020
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  11. EddieM

    EddieM

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    I told you premium bonds have pretty much the lowest return of any investment.
     
  12. JohnD

    JohnD

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    They aren't an investment, they're a money savings scheme.
     
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  13. Ihavenojob

    Ihavenojob

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    Bonds used to be a good bet, not sure now with all the debt countries have built up.Buy tinned goods.
     
  14. EddieM

    EddieM

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    No they haven't, they've always been a low return no risk investment or savings scheme if you must.
     
  15. Ihavenojob

    Ihavenojob

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    Better than bank interest, but it's usually long term. Just like most things, the bigger the risk, the bigger the reward.Most people want safe.Buy tinned goods.
     
  16. Brigadier

    Brigadier

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    Times can't be that hard, if you've got enough spare to put £60k away anywhere. :)
     
  17. EddieM

    EddieM

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    Well if interest rates go negative, putting your cash under your mattress will be a better bet, if a bit insecure.
     
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