Incoming moan about NS&I.

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Enough of this nonsenses, why don’t you all clock off.

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For the night ...

Macsidia

Can we have a move to 3.5% for Premium Bonds... lacking a bit behind other savings products now and another BoE rate increase looks on the horizon?

wmb194

Macsidia said:

Can we have a move to 3.5% for Premium Bonds... lacking a bit behind other savings products now and another BoE rate increase looks on the horizon?

Until we see more increases from the competition it's unlikely: the best instant/easy access rate on the market is 3.71% (Chip) so 3.5% would make them far too competitive.

booneruk

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Premium bonds don’t do it for me and I can't see them competing with their other products they offer. Oh well a false dawn, money went in easily enough should be easy to take out as well.

So my assumption is correct it’s only the very rich who would keep their money in their protected up to a million quid, otherwise what pleb would invest with them, much better rates to be had elsewhere.     

Premium Bonds have their place - not just for the "very rich" either. There's a good article on this site explaining why.

I'm a higher rate tax payer, though I certainly don't consider myself rich. I've locked away enough money in a 5year fix to just hit my £500 pa interest allowance and what I don't put into my ISA (stocks and shares) every month I put into premium bonds. I've had three consecutive lucky months now, and the winnings aren't subject to 40% tax!

I'm quite content - obviously if I strike it lucky with the £1million I'll be more than content