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£50,000 Premium Binds limit reached
Hi,
I have reached the £50,000 limit in Premium Bonds, but I have a DD going in each month. Where should I continue paying the DD into?
Comments
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Savings accounts? ISAs? Pension?
Remember the saying: if it looks too good to be true it almost certainly is.0 -
Do you mean direct debit (DD) or standing order (SO)? As far as I know you can only use SO's with premium bonds and not DD's.
If you want to continue saving, that is easy, set up a SO to a savings account. If you don't want to pay tax on the interest, save in a cash ISA and many will accept payments by SO.
Here is a link to a site that shows the best paying savings accounts (some of which are cash ISA's).
0 -
How can anybody answer that question sensibly, when you have given no info at all about yourself or your overall finances?
Maybe it would be best to pay it into a pension, or pay off a mortgage, or many other possibilities.
3 -
Just cancel it.
1 -
Cancel the standing order (I expect that's what you mean, rather than a direct debit)
I consider myself to be a male feminist. Is that allowed?3 -
Pick a charity.
2
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