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Stuart Posted 2 years ago
Savings vs premium bonds?

The prize fund rate for premium bonds is dropping from the December draw – from 1.4% to 1%….  As are the NS&I interest rates on savings accounts from November 24th…..  We updated our guide on premium bonds vs savings accounts as a result – we’d love to hear your thoughts and experiences on premium bonds!


1 like & 7 replies
    • mel 21st October 2020 at 9:49 am

      Such a shame that the prize rate on Premium Bonds will fall from December! I wonder if this has make anyone decide not to invest in them any more as a result, or whether they think they are still worth a punt?

    • gerry.beaton 21st October 2020 at 9:18 pm

      I think the only way you can get a decent return is to have the full £50,000 at least the winnings are usually £25+ per month more than one would earn on other accounts – not really worth investing in them now I wouldn’t think not for the time being anyway …..

    • RENFLEX 28th August 2021 at 5:29 pm

      Premium bonds are not really a saving tool better to take a small punt on a stocks n shares isa if invdsting for anything longer than a year

    • Mr F 28th August 2021 at 7:45 pm

      Unless you invest the maximum amount allowed in premium bonds the annual returns you enjoy probably aren’t going to compete with most savings accounts, in my opinion.

    • gerry.beaton 29th August 2021 at 10:14 am

      Agree if you have £50,000 worth a punt – interest rates all time low, at least you have the excitement of MAYBE winning! £25 a month is ok!!

      • Cheers on toast 29th August 2021 at 10:54 am

        I have just under half that amount and win at least 1 x £25 prize most months, last year it easily out stripped any rate i could have got on a savings account.
        But like you say you have the added excitement of possibly winning more.

    • Cheers on toast 5th September 2021 at 1:26 pm

      £75 won this month