Quizzes & Puzzles13 mins ago
Banks Or Premium Bonds
14 Answers
Which is the best option investing money in HSBC bank or premium bonds for best interest. Thank you
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Interest rates are dire at the moment, you will be lucky to get 0.5% in a Bank apart from their Regular Saver which is 2.75%.
Premium Bonds do not pay any interest so you are relying on winning at regular intervals, Of course, there is always the chance of a big win.
I find I have been getting prizes equalling just over 1% pa this year so far.
Only you can decide.
Premium Bonds do not pay any interest so you are relying on winning at regular intervals, Of course, there is always the chance of a big win.
I find I have been getting prizes equalling just over 1% pa this year so far.
Only you can decide.
The interest rate on Premium Bonds is currently 1.4% tax free. Unfortunately this isn't paid to individuals but put into a pot and a draw made to decide who gets the money. This means that each month you stand a chance of getting an amount between £1,000,000 and nothing. It also means that you have zero chance of losing your money because of a bank going bust, although most banks have a guarantee that you will not lose more than about £85,000.
With interest rates virtually nil I'd go for premium bonds.
If rates ever go up again you still have your "stake" money and can choose again. Meanwhile you stand a chance of winning every month.
I did quite well last year on a smallish amount. When an isa matured it's now in bonds.
If anyone can afford to loose the money then play other ways to make a little. Personally I know nothing about stocks and shares..
If rates ever go up again you still have your "stake" money and can choose again. Meanwhile you stand a chance of winning every month.
I did quite well last year on a smallish amount. When an isa matured it's now in bonds.
If anyone can afford to loose the money then play other ways to make a little. Personally I know nothing about stocks and shares..
I invested £50,000 almost a year ago. My wife like wise. Every month I have won anything between £25 and £75 per month. My wife like wise. To date I have won a total of £825 and my wife £900. My wife has farmed out max sums to several building societies and the total interest is nothing like as much as our NS&I Prize wins.
Eventually,as time goes by I have found from previous experience since retirement in 1997 that the prizes become less frequent . I just withdraw and re-invest two months later and get fresh new numbers. Always appear to work for us.
Eventually,as time goes by I have found from previous experience since retirement in 1997 that the prizes become less frequent . I just withdraw and re-invest two months later and get fresh new numbers. Always appear to work for us.