We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Need 4k which account should I use?

patrickbateman
patrickbateman Posts: 83 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Savings & investments
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

Comments

  • atypical
    atypical Posts: 1,344 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Does the YBS account still have the bonus? If so then use the premium bonds, if not then use the YBS.
  • patrickbateman
    patrickbateman Posts: 83 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    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
    atypical Posts: 1,344 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.8K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.4K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 261K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture