Is there even point of saving accounts if you only have 2-3k savings?

Albermarle

The calculated average return from Premium Bonds is 1.4% . The more you hold the more you will be near the average.
However the 2 X One Million Pounds prizes each month skew the figure .
In reality on average if you have £10K in premium bonds you will gain about £125 a year ( 1.25% ) with a very very small chance of a big prize one day.

Eco_Miser

eastcorkram wrote: »

I can see the idea that it may as well go into premium bonds, but given the huge amounts of money people on this forum have invested, it's staggering to see that hardly anyone ever seems to win more than a £25 prize.

£25 prizes massively outnumber the rest. You'll notice on the dedicated thread that some people win several £25 prizes in the same month.

Also, if you won a £million, or even £50k, would you announce it on here? :money:

SSTJCKel

Just a correction for the OP you can rename an HSBC Flexsaver account. Go into online banking and send them a message asking them to rename it and they will. I have 3 Flexsavers all with different names.

Binkie_Huckaback

Eco_Miser wrote: »

£25 prizes massively outnumber the rest. You'll notice on the dedicated thread that some people win several £25 prizes in the same month.

Also, if you won a £million, or even £50k, would you announce it on here? :money:

I didn't know there was a thread dedicated to Premium Bonds, sorry if I've taken this one a bit off topic.

Eco_Miser

"Premium Bond Winner ?" https://forums.moneysavingexpert.com/discussion/81778/premium-bond-winner