Need 4k which account should I use?

patrickbateman

Hi there,
I've recently purchased a 2nd hand car and am unsure of how to finance it. Choice is loan - not likely.
Take 4K away from my premium bonds (total 8k)
Take 4k out of my Yorkshire BS regular saver (total 8k also)
Take 4K out of my ISA - not likely.

Of the premium bonds or YBS which would people recommend I do, with the current economic climate?

Thanks

atypical

Does the YBS account still have the bonus? If so then use the premium bonds, if not then use the YBS.

patrickbateman

atypical wrote: »

Does the YBS account still have the bonus? If so then use the premium bonds, if not then use the YBS.

Yes as far as I know it still has a bonus and the current rate is 3.5 or 3.75% but likely to drop again soon because of last weeks interest rate cut.

atypical

For a regular saver that is pretty poor considering Barclays offers 6% fixed for a year. Plus premium bonds at 1.8% (probability) aren't stellar.

Perhaps consider moving your money?