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premium bonds

lara_croft_2 · 2013-11-24 09:05:24

Am i better buying them than putting my money in a savings account?

Comments

G_M Posts: 51,977 Forumite

26 November 2013 at 12:15AM

opinions4u wrote: »

It depends if you win or not. And how much you win.

PB prize pot is 1.3% tax free. That number may help guide your decision.

There's the same as 1.65 (ish) gross in savings account for a basic rate tax payer.

There are millions of people earning less than that on their savings, and (Llyoyds etc aside) you have to hunt for similar / better rates on savings accounts.

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