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Premium bonds time withdraw

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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 

Comments

  • JGB1955
    JGB1955 Posts: 3,848 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • 400ixl
    400ixl Posts: 4,482 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Are you higher rate tax payers who have used your tax free interest allowance? Have you used your £20k ISA allowances?
  • Thecar
    Thecar Posts: 37 Forumite
    Fifth Anniversary 10 Posts
      No isa and not high tax payer
  • lohr500
    lohr500 Posts: 1,346 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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
    Keep_pedalling Posts: 20,771 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    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
    Thecar Posts: 37 Forumite
    Fifth Anniversary 10 Posts
    Tks for the reply yes had over 2 yrs 

  • tetrarch
    tetrarch Posts: 323 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Thecar said:
    Tks for the reply yes had over 2 yrs 

    And what is your total return over that period?

    Regards

    Tet
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