Premium Bonds or Santander 123

eskbanker

Rjn1 wrote: »

I have been asking people for over 55 years whom these people might know who have won large amount on the Bonds?

Wow, silly conspiracy theories are one thing, pursuing them for all or most of your adult life is taking dedication to a cause a bit far!

Rjn1 wrote: »

The Daily Mail also said....

Ah, perhaps that explains it....

polymaff

£20k in premium bonds should yield about £232 p.a.

£20k in a 123 current account should yield about £540/£420/£300/£270 pa, depending on your tax situation.

Perks on the Premium Bonds are the chances of bigger prizes and zero maintenance requirement. Far more tangible benefits of the 123 are the discounts on certain DD-settled expenditure.

Do you feel lucky?

zolablue25

NectarCollector wrote: »

Then add on cashback from council tax, water/gas/electric bill, phone/tv bill etc) you'd probably earn that £5 fee back just from cashback

I keep seeing this being stated. I guess we are lucky enough that our bills are too low to cancel out the fee.

As for where is it best to keep your money....what do you want fom it? Is it a "punt" on winning a big prize (but, apparently, these don't exist) or a regular income stream. If its the latter then Santander (or other combination of accounts) if its the former (and you are willing to risk that the Government might actually pay the big amounts) then stick with the bonds.