Nottingham Building Society - 1.55% Instant Access Account

jrsga

This is all a bit silly chasing rate increases like this is it not.



Surely I may as well put 50k in premium bonds and have a 1 in 60000 of winning a million quid?

colsten

jrsga wrote: »

Surely I may as well put 50k in premium bonds and have a 1 in 60000 of winning a million quid?

Your decision. If you like a gamble, you can do just that. If you like to have a given interest rate, you would more likely choose a savings account.

Not sure about your chances of winning a million.

EDIT: In fact, you are WAY out. https://www.moneysavingexpert.com/savings/premium-bonds/#tips-1

eskbanker

colsten wrote: »

Your decision. If you like a gamble, you can do just that. If you like to have a given interest rate, you would more likely choose a savings account.

Not sure about your chances of winning a million.

EDIT: In fact, you are WAY out. https://www.moneysavingexpert.com/savings/premium-bonds/#tips-1

I suspect the poster was referring to the 1 in 63,093 chance of winning £1m from a £50K holding over the course of a year, which seems a reasonable period to consider when evaluating versus AERs!

jrsga

colsten wrote: »

Your decision. If you like a gamble, you can do just that. If you like to have a given interest rate, you would more likely choose a savings account.

Not sure about your chances of winning a million.

EDIT: In fact, you are WAY out. https://www.moneysavingexpert.com/savings/premium-bonds/#tips-1

Its not gambling, ones stake is always safe and one typically will get around a good % payout.

jrsga

eskbanker wrote: »

I suspect the poster was referring to the 1 in 63,093 chance of winning £1m from a £50K holding over the course of a year, which seems a reasonable period to consider when evaluating versus AERs!

Correct and great odds if you consider.

coyrls

jrsga wrote: »

Correct and great odds if you consider.

Not sure I'd call 1 in 63,093 great odds.

jrsga

coyrls wrote: »

Not sure I'd call 1 in 63,093 great odds.

Compared to many countries lotteries it is.

Steve_xx

jrsga wrote: »

Its not gambling, ones stake is always safe and one typically will get around a good % payout.

But if it doesn't pay out then your stake is a reducing one because of that pesky thing called inflation!

1882

colsten wrote: »

I'm having some fun and games with them. My application went through alright, as did the original deposit. However, they are unable to send me my login details as GMAIL apparently blocks all emails from Notts BS..

On their site: "We are currently experiencing some technical issues which appear to be affecting some customers with a Gmail account. If you have an alternative email address to Gmail, please use this when opening a new account. We apologise for any inconvenience and thank you for your understanding. "

colsten

Steve_xx wrote: »

But if it doesn't pay out then your stake is a reducing one because of that pesky thing called inflation!

A proper gambler doesn't mind losing money :rotfl: