Best for easy access to funds

Zanderman

Albermarle said:

With £40K in premium bonds you should get about 18 prizes a year. So if you had PBs for 6 months , you would 'lose' a month as explained above. So you should get around  8 prizes . These are most likely to be £25, with a chance of £100 and a pretty small chance of anything bigger ( an almost infinitesimally small chance of winning a Million ). An effective interest rate around 1 %

But also a real chance of zero.

RobM99

£40,000 @  1% for 3 months will earn £100.     Beats a poke in the eye!

Isitdoable

Albermarle said:

With £40K in premium bonds you should get about 18 prizes a year. So if you had PBs for 6 months , you would 'lose' a month as explained above. So you should get around  8 prizes . These are most likely to be £25, with a chance of £100 and a pretty small chance of anything bigger ( an almost infinitesimally small chance of winning a Million ). An effective interest rate around 1 %

Yes....having been the proud owner of a handful of premium bonds for nearly forty years (a gift!), I have won once - £50!

harsh_but_fair

The chances of winning 1 million is about 46 billion to 1 so with a 40k investment would be about 1 in a million so whilst small is not infinitesimally small.