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MSE News: Premium bond interest rate boosted to 1.5%
Former_MSE_Dan
Posts: 1,593 Forumite
Comments
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Looking at Martin's article, for higher rate interest payers, £30 interest in a normal interest paying account is only £18 - while that is better than £15 and guaranteed, there is always an element of gambling which might be worth it.0
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Yep, our full line from the article is thisLook at Premium Bonds with a clinical financial eye and they’re only worth considering as a serious place to put savings, if you’re a higher rate taxpayer, who has used up your Cash ISA allocation.
Yet for those who like a flutter, as Premium Bonds do protect your cash, it's fine to put a non-significant portion of your money in them, more for fun than returns. However before deciding, use the calculator to look at the real odds; and if you’re willing to take the gamble after that – then it’s fine.Former MSE team member0
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