Earnie !

ravenk

MBNA keep sending me cheques for interest free loans.
Last one is or up to £13k until March 2008.
It works out an interest rate of 2.5% ...cheque fee ...
So have invested it into premium bonds ....might get the million !

Paul_Herring

You'd be guaranteed to get more than the PB's if you put the money into ICICI or IceSave. And even then you'll only be making around 3.5% before tax and inflation.

Alfie_E

I don’t think you mean the word “guaranteed”. The return on a person’s premium bonds isn’t fixed. I think the word “likely” would be better.

youknowwho

ravenk wrote: »

MBNA keep sending me cheques for interest free loans.
Last one is or up to £13k until March 2008.
It works out an interest rate of 2.5% ...cheque fee ...
So have invested it into premium bonds ....might get the million !

Just out of curiosity..... Can u take out the money u put in ur PB's at any time? how much notice etc?

ravenk

Yes I would imagine you can get a better return than premium bonds. But bonds are good fun. You never know the big one might come in.
Of course you would not invest for an income you needed to warranty every month.

Yes you can cash in bonds at anytime. I think the notice period is approx 14 days.

So why not use the free money the banks are offereing for an investment returned gamble !

Of course you could do the big one ....
Draw on every penny you have and borrow every penny you can. Fly to Vegas ...stick it on RED or BLACK and hope for the best.
If you win .. happy days...
If you lose ...Just file for insolevency :rotfl:

Yes I know that only happens on TV. You would have to find a casino that would take a large single bet. They prefer lots of small bets ...

tom188

Of course if you dont win you lose the equivalent of the balance transfer fee.

ravenk

I'm going to use £5k to but some bonds ..
I will do an update each Month and let you know how I got on ...

Could be a millionaire tby his time next year Rodney !

Paul_Herring

Alfie_E wrote: »

I don’t think you mean the word “guaranteed”.

I think I do.

The return on a person’s premium bonds isn’t fixed. I think the word “likely” would be better.

I didn't use the word in relation to the premium bonds.

dangeroussports

Can you make the money back from the 2.5 fee ?

Ie make 4.5 and give the 2.5 to MBNA leaving you with 2%??? If so, how. Id like to know.

But I dont think anyone is out there who could create a simple straightforward easy idea.

ravenk

Well the cheque has been posted to Earnie.

You should post the cheque on about the 15th ish ....But bit busy this month so sent off early.

Will be in the August draw (1st of August). Fingers crossed !

:cool:

jonesMUFCforever

For god's sake don't forget to make the minimum MONTHLY repayment on time!