Advanced search

To cash in ISA and put it all into premium bonds?

(47 Posts)
AudTheDeepMinded Mon 26-Sep-16 20:24:54

I reckon I'll probably make in payouts what I would in interest with ISA over a year. Anyone else put this to the test?

specialsubject Mon 26-Sep-16 20:28:26

Premium bond payouts have also dropped - and of course you are more likely to get zero.

Grab the interest paying current accounts while you can- but as carney continues the madness, all of us are watching our savings vanish wuth inflation.

HereIAm20 Mon 26-Sep-16 20:31:43

We had some money that was earmarked for certain things which we put in the full amount for a six month period ( as we needed quick access to it too). In that time we had a number of £50 wins so much so that it totalled 5% of the amount in PBs in the six month period. We wouldn't have got that return elsewhere but I guess we were lucky (although we had heard the same happened to a friend so it was worth a short term punt for us). Good luck - you may win the £1million -or you may not

Only1scoop Mon 26-Sep-16 20:36:08

I took a some out of my ISA and did exactly that.
In 5 months have already had a 50 and 2 25 pound wins.
Rather chuffed.

AudTheDeepMinded Mon 26-Sep-16 20:36:43

That's what I'm hoping HereIAm20

TheWoollybacksWife Mon 26-Sep-16 20:44:30

DMum has about £10k in Premium bonds and has had wins totalling nearly £1,000 for each of the last three years. That's a better return on investment than any ISA she could have taken out.

Shitonyoursofa Mon 26-Sep-16 20:45:55

I get 25 quid most months, way more than I'd get in interest in my ISA

MatildaTheCat Mon 26-Sep-16 20:50:39

My tracker ISA has performed well in the last six months but the stocks and shares not well. I've had wins every month on the premium bonds, between 25-150. The bonds are more fun as once a month you get to check. Returns are statistically still pretty low but when interest rates are so low it's fun. PPs mother has been unusually lucky.

exLtEveDallas Mon 26-Sep-16 20:55:17

We had the max in PBs when the minimum prize was £50 and the first year won £1200.

Then they put the max up and dropped the minimum prize to £25. Our 'winnings' halved overnight.

We've got half the max now and probably don't win more than £200 in a year.

PBs are great if you've got £50K in, not really worth it with less.

Rrross1ges Mon 26-Sep-16 20:56:25

I've had premium bonds for ten years. I've won nothing. Not a fucking penny.

JeanPadget Mon 26-Sep-16 21:22:07

They put this very question to a statistician on More Or Less (R4 programme about, ermm, stats blush) recently. He said you'd be better spending the interest on your ISA buying a lottery ticket every week, as you were more likely to get a big prize on the lottery. Having said that, I've still got some money in Premium Bonds.

Crispsheets Mon 26-Sep-16 21:26:47

I've had £5000 in premium bonds for 3 months and no win yet 😞

bibbitybobbityyhat Mon 26-Sep-16 21:28:21

What interest would you have earned in your isa?

We put spare cash in premium bonds. Some parts of the year we have a lot of spare cash (as we save for tax - both self employed), some parts of the year we have £0. We don't have massive cumulative savings.

We figure that the annual £50 or so we lose in interest is worth a punt.

Inthebathprobably Mon 26-Sep-16 21:29:33

Some of mine at 40+ years old as bought for when I was born. Never won a thing.

Only1scoop Mon 26-Sep-16 21:32:23


LonnyVonnyWilsonFrickett Mon 26-Sep-16 21:33:27

I like PBs because they're safe and it's easy to pay in and withdraw money with no penalties. We win quite frequently, probably £200 - £400 a year? My bank is currently offering 0.5% interest so that seems quite attractive tbh.

Only1scoop Mon 26-Sep-16 21:33:58

Wrong thread

Titsdown Mon 26-Sep-16 21:39:15

DP and I had the max in (so £80k total) for 18 months before we bought our house. Return was 1.05% pa - which is better than any of my ISA offers at the mo (but not as good as high interest current account, even though that's taxed).

LurkingHusband Mon 26-Sep-16 22:02:30

In 2000, I got a better job, and MrsLH and I decided to invest a bit.

Over that time, we saw 2 "once in a lifetime" financial crises.

The only investment that has continuously outperformed has the one deemed as "highest risk" - a S&S ISA (Thank you standard life).

Make of that what you will.

The worst performance came from some Life products, which only just managed an even return - over 10 years. (Showing we did spread risk).

specialsubject Mon 26-Sep-16 22:05:33

£500 Premium bonds for decades. Win - zero.

bumbleymummy Mon 26-Sep-16 22:07:12

We have quite a bit in premium bonds at the moment but we've won nothing sad

LondonPainter Mon 26-Sep-16 22:10:06

I've just done this, as my ISA was down to 0.25% and have won 1.8% in PB in the last year.
Stocks and shares would be better though, if you don't mind the risk smile

Tiredandtested Mon 26-Sep-16 22:11:31

I got 6% in PBs 2 years ago, and <1% last year. I've cashed them in to top up my ISA.
If anyone finds something decent I'd be interested to know.

Trills Mon 26-Sep-16 22:12:08

You are almost certainly going to be worse off with Premium Bonds than with your ISA.

BUT I like them anyway.

I am gambling the interest I would have got from my ISA.

I might win, I might lose.

Piscivorus Mon 26-Sep-16 22:15:08

We have got rid of ours as we won so little they were not worth having

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: