Premium bonds time withdraw

Thecar

We lucky to have £50k each 
Juls draw £125 between both holdings what a crap return
Any advice where we can put this money into a savings account and get mthy income on the investment we  will  not be making withdrawals tks 

JGB1955

Plenty of choices at Best Monthly Interest Savings Account | Rates From 5.35% (moneyfactscompare.co.uk)

400ixl

Are you higher rate tax payers who have used your tax free interest allowance? Have you used your £20k ISA allowances?

Thecar

  No isa and not high tax payer

lohr500

How long have you has the £50k each in PB? Looking at the results for one month in isolation is not the best way of assessing how well you have done with them. What is your total winnings over a full year if you have had them that long?

Where to put the 2 X£50k is a difficult one to answer without knowing your appetite for risk.

The safest option is in a savings account where both your capital and any accrued interest is usually protected by the FSCS  rules.

Any investment into stocks & shares type savings will not be protected and you could end up with less than you put in.

If it was me, as a cautious saver, and if I knew I wouldn't need the savings for a year, right now, I would put them in a 1 year fixed savings accounts.

If interest rates do fall over the next few months (but who knows given the impact of any post election fiscal approach changes), then at least you will get a guaranteed interest for one year. 

Do you need access to the interest made on the savings, or are you happy to let the interest build in the savings account?

Keep_pedalling

You asked the same question 1 year ago so I guess you have had them at least two years. What are your long term plans for this money?

Thecar

Tks for the reply yes had over 2 yrs 

tetrarch

Thecar said:

Tks for the reply yes had over 2 yrs 

And what is your total return over that period?

Regards

Tet