savings

Stuuusharon

I have £50,000.00 to invest and wanted to know what was best option for my savings, was looking at premium bounds but not sure if this is best return.

Ozzig

I have Premium Bonds and they return slightly more than my 0.25% interest savings account.

But I do like the glimmer of hope I feel as I log in at the start of every month.
(Not so keen on the disappointment that quickly follows.)

ChilliBob

Just look at the best buy tables, I'd say PB are still decent, but easy access is catching up. Perhaps split? Worth knowing PB 'prizes' don't attract tax, unlike savings interest.

Ozzig

There's more info on the main MSE site, but in summary ...

Number of bonds	Median average winnings	Equiv. prize rate
£100	Nothing	0%
£1,000	Nothing	0%
£5,000	£25	0.5%
£30,000	£250	0.83%
£50,000	£450	0.9%

grumiofoundation

Stuuusharon said:

I have £50,000.00 to invest and wanted to know what was best option for my savings, was looking at premium bounds but not sure if this is best return.

To clarify what do you mean by invest? 

Generally when people talk about investing on this forum they mean stocks and shares, premium bonds are seen as saving.

What is the 'best' option for your savings will depend on what you need it more and when.

If for a house deposit in 8 months then premium bonds a sensible option

If for retirement in 35 years then premium bonds is not the most sensible option as your money will (almost certianly unless you are very very lucky) lose money to inflation.