Savings options

[MissSmith80]

Thanks in advance for advice.
We are looking to move to a bigger family home so need access to savings relatively quickly (aim to move in the next year).
I have savings >30k, currently in an account with 0.65% interest rate. I'm saving around £300 per month
I'm considering going for premium bonds because it's a higher rate than I have now, quite accessible and you never know - I might get a big win!
I'd be grateful for any advice, I have tried Martin Lewis but I am struggling to navigate it because of the need to access fairly quickly although with a bit of notice.

I'm considering going for premium bonds because it's a higher rate than I have now,

Just checking that you understand how premium bonds work. There is no guaranteed savings rate on Premium Bonds. You can win prizes, which might be more or less than you would earn in any other investment vehicle. You are Guate ted to get the full monetary value if your initial Investment back, though inflation will have eroded the value.

I have 30k in PB's

Won 1600 pounds in last 2 years all reinvested.

Hi, Marcus bank (owned by Goldman Sachs) has a very good monthly interest rate and you can withdraw / deposit easily. I've been using them for about 2 years now . Their interest rate has gone down since but they are still relatively good compared to some of the fixed ISA's etc that are around.

Is Marcus taking on new business? They did stop accepting applications.

0.65% is good for instant access, the rates have been plummeting and getting anything at all now is considered good.
Premium bonds may give you a return or may not. It's a gamble but with interest rates so low elsewhere you are not gambling all that much. There were some issues reported earlier this year in taking money out of NS&I but I would hope that issue has been resolved by now. Be aware though that it is not instant access, it will take 3 working days on average to withdraw.

Thanks everyone, I'll take a look at Marcus' account but think I'll go for some PB's - as you say, not a lot to loose with the interest rate being like it is at the moment.
Have a lovely Sunday

I would go for PB's it's obviously not guaranteed interest but I have £40k in them (my Ddad and DSis have £50k in them) and we all make 1.5-2% a year on them, I know there's been a few threads on here in the past and the general consensus is once you put over £25k in you win £25-75 each month. Also I get 5 minutes of dreaming how I would spend the big prize each month just before checking the monthly draw results

Do be warned though I know at some points this year the waiting time to get money out has been about 10 days so when you get close to needing it next year I would just give them a call to check how many days before you need to cash them in.