A question for those with full Premium Bonds holdings

[lipstickwoman]

Now that interest rates are a little better and 4% is available in cash bonds, will you be moving your money? 50k is a lot of money...

No, as winnings are tax free.

Yes the tax free thing is good. We will only have the full holdings for another year probably as planning to buy a house next year. And there's always the faint chance of a big prize too..

We both have max holding in PB's but also have money "locked away" in fixed-rate ISA's etc for a guaranteed return.
In the event of requiring money in a hurry we would hit the PB's first.

Don't think we would be tempted away from PB's as they have been good to us over the years and it provides a bit of fun at the beginning of the month (you only have to read the PB threads on here to see that).

I'm averaging above 4% with winnings, so definitely not.

Same

No, as we are trying to buy a house and need to keep the money somewhere easy to withdraw.

A lot of those ‘better rates’ either mean locking the money away for ages or only pay that on a small amount. Often if you read the small print the interest is less than we’re getting in PB prizes.

£175 this month which is pretty typical - 4% of £50k is £2000 isn’t it?? We must be v unlucky as most months it’s £100-200 x2 and 2 posters above are making >4% in winnings???

Like pp we aren’t swapping as will need the money easy to access to pay for upcoming extension.

Anyway thanks for this thread as I always forget to check winnings 😄

I didn't have full holdings but I did move some money out of PBs into a fixed rate ISA this year. The certainty of 4% (tax-free) outweighs the 'fun' of PBs. Come to think of it, I cashed in an ISA a few years ago when rates were rock bottom and put it into PBs as there was little to lose, so really I'm just rebalancing my ISA vs PBs ratio.

It‘s 4% a year so you are pretty spot on with a monthly average of £175.

For now yes but we won’t build another full holding, we’ll build up a cash Isa instead

Ah 😂 that makes a lot of sense 😅 haven’t got my head screwed on right today haha

Leaving PB as at full holdings and winnings are ok and we can access fast (& might win a million!)

Have got some savings in a 4.5% 2 year fixed as well though

Ernie has LOTS OF Lucky CLUSTERS made up of Random Photons -
and when the CLUSTERS become Lucky and Random ....... then ......

Someone Ever-So-Lucky with a £17 or £1,000 or £35k Bond wins BIG

And when 95% of Bond Savers have £50k - then the Bond winners
are most likely to take up 95% of the BIG prize winner list on the website

Interest rates are falling and so is the PBs prize rate. I’ve already maxed out my ISA so it’s hard to know what to do long term with the full holding in PBs, but for now I’ll be keeping my FH there as I don’t want to pay anymore tax than what I currently do.

Both DH and I had FH but not getting prizes above £50 for 3/4 months, so have both taken out £10,000 to put in new ISA’s this tax year. DH then won £5,000 last month so obviously this has been great, but this month it’s back to £25 and £50. We have a mixture of savings, ISA’s, bonds and Premium Bonds, but do take advantage of the ISA limits each year as I think the £20,000 each year is going to be reduced.

message to Lucky John Lennonjingles

DH won £5,000 ??

The ODDS of winning £5k are ............ 87m : 1

That is a Once In a Lifetime Prize

Buys a lot of Strawberry Cheesecake ........