NS&I still worth it?

18cc

I would say the opposite - if you don't have much in the way of savings then you are likely to get hardly any interest ie not really worth it so perhaps the best thing to do is to put your small amount of savings into premium bonds

yes you could of course get 0 return but you could equally win something substantial

poppy10_2

18cc wrote: »

I would say the opposite - if you don't have much in the way of savings then you are likely to get hardly any interest ie not really worth it so perhaps the best thing to do is to put your small amount of savings into premium bonds

yes you could of course get 0 return but you could equally win something substantial

Not really the way it works. Read the MSE article on Premium Bonds. Having a low holding pretty much guarantees that you won't win anything.

polymaff

18cc wrote: »

I would say the opposite - if you don't have much in the way of savings then you are likely to get hardly any interest ie not really worth it so perhaps the best thing to do is to put your small amount of savings into premium bonds

yes you could of course get 0 return but you could equally win something substantial

Depends upon whether you are a day-dreaming gambler or an investor.


You are clearly the former. Evidence of which is that barmy last paragraph of yours.

poppy10 wrote: »

Not really the way it works. Read the MSE article on Premium Bonds. Having a low holding pretty much guarantees that you won't win anything.

And, more coherently, in these forums. Small holdings are a waste of an investment.

AndyPK

They are meant to earn around 1% interest.

And if you are already earning over £1000 of interest a year. PB and ISA's are a good place to put money in that you don't have to pay tax on the interest.

With £50K in there you should be winning/earning £25 every other month

davidwatts

AndyPK wrote: »

With £50K in there you should be winning/earning £25 every other month

In a bad year!

I'd say more like winning something in 10 or 11 months of every year and averaging closer to £50 per month.

londoninvestor

davidwatts wrote: »

In a bad year!

I'd say more like winning something in 10 or 11 months of every year and averaging closer to £50 per month.

Yes - each £1 bond has approximately a 1 in 25,000 chance of winning each month. A quick back of the envelope calculation says then that with £50k you'll average two prices a month.

The MSE premium bond calculator does it more thoroughly - broadly with £50k your median return will be about 1.2%.

https://www.moneysavingexpert.com/savings/premium-bonds-calculator/

londoninvestor

Paul_DNAP wrote: »

UPS: Cash is safe, backed by gov. No risk to capital. Slim chance of big prizes. Instant access.

Also that the return is tax-free.

polymaff

AndyPK wrote: »

They are meant to earn around 1% interest.

With £50K in there you should be winning/earning £25 every other month

Two seriously conflicting statements, Andy?


With £50k in there you should currently be receiving about £625 a year - or, on average, slightly more than 2 by £25 per month.

polymaff

londoninvestor wrote: »

The MSE premium bond calculator does it more thoroughly - broadly with £50k your median return will be about 1.2%.

https://www.moneysavingexpert.com/savings/premium-bonds-calculator/

That web-site is a joke,

"post-doctoral cosmology statistician"

indeed! Try it out and you'll find that it makes up exactly the same return on radically different stakes, and even a lesser return on a higher stake.


MSE conned - again!

mumstheword4

Not worth it any more. We have transferred about £100K out because of Brexit; if we can't trust the Gov. with Democracy, then, we should not trust them with our money.