Different Viewpoint on Premium Bonds

N1AK

Daz2009 wrote: »

So,assuming you've got 50k in cash you don't need anytime soon,what would you do with it ? Saying spend it is not an acceptable reply here

It depends on the tax rate you'd be paying, how risk averse you are etc, whether you've got spare ISA allowance, how much scope you have to invest more in your pension etc...

The only use I've ever found for Premium bonds was when I bought some recently to hold some of the money I want to keep available as a house deposit. Because I am likely to want it within a year or two at most it limits my options for better rates, I am already using the ISA allowance, and the fact the "winnings" are tax free means it will beat out anything I can access on that timescale.