mwg
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Registered: 19th Feb 04
Location: South Lakes
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Got a couple of grand in a lump sum and want to save it. All interest rates are pretty crap at the moment. Already have an ISA that I put the maximum amount in every year and another account thats on one of those fixed interest rates but cant add or take from it so it cant go in either of those.
Do you think its worth putting it in Premium Bonds or an easy access account? I will want to add to it and also be able to take out when I want to or at least with only a couple of weeks notice
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koolkorsa
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Registered: 15th Jun 03
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Personally I'd go for premium bonds. They are a month's notice to withdraw I think.
As you say savings rates are 'pretty crap' at the moment, so a couple of grand would only get you about £50 a year interest. Which I doubt is going to change you're life seeing as you drive a A3 S-Line.
If you go for premium bonds you're giving up a bit of guarenteed interest to have the chance to win a reasonable amount of money.
Personal choice though as to what you want to do!
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AndyKent
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Registered: 3rd Sep 05
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Given that you've already max'd your ISA allowance I'd probably agree that premium bonds are your best bet. The interest rate applied to the premium bonds is also pretty low so you're unlikely to get much back, but worth a shot I'd say.
Otherwise you're looking at a 2 or 3% return in one of the best savings accounts which is only £60 on £2k in a year.
For me, premium bonds.
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Colin
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Registered: 4th Apr 02
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I stuck £25k into Premium bonds last month, i'll let ypu know if their any good 
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by koolkorsa
Personally I'd go for premium bonds. They are a month's notice to withdraw I think.
8 working days to cash them in.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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I'm gonna bung it in premium bonds for a year and see how I get on
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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old biscuit tin under your bed
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