MSE News: Limit rises to £50,000 on Premium Bonds

From today savers can buy £50,000 worth of Premium Bonds, up from the previous £40,000...
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Limit rises to £50,000 on Premium Bonds

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Replies

  • IftsIfts Forumite
    1.9K Posts
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    Forumite
    If you are wanting to top up its best to buy Premium Bonds near the end of the month, as you have to hold them for a whole calender month before they are eligible for the prize draw.

    If you buy today you will have to hold them for 2 months (June & July) before they are entered into the first prize draw (August) so wait till the end of the month to buy, then you only have to hold them for the one month (July) before they are entered into the August prize draw.
    Never let the perfume of the premium overpower the odour of the risk
  • taylornjtaylornj Forumite
    276 Posts
    Part of the Furniture 100 Posts Combo Breaker
    Just arrived in my e-mail inbox today

    "NS&I has some exciting updates about Premium Bonds"

    Already decided I will top up later in the month. Been on my plans since it was first announched in the budget.
  • jimjamesjimjames Forumite
    15.9K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    I'm struggling to see who would benefit from putting more money into Premium bonds.

    The return isn't guaranteed so although your capital is protected it will be losing value to inflation.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • AndyT678AndyT678 Forumite
    756 Posts
    Tenth Anniversary Combo Breaker
    jimjames wrote: »
    I'm struggling to see who would benefit from putting more money into Premium bonds.

    The return isn't guaranteed so although your capital is protected it will be losing value to inflation.

    I'm going to stick with my current allocation of £0
  • brewerdavebrewerdave Forumite
    7.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    First six months of this year our total holdings of ~ £30k have "earned" £75 ! Only just over 0.5% annual return -certainly not worth diverting any more of our cash.
  • droopsnootdroopsnoot Forumite
    1.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    My AER remains at just under 1%. I haven't increased my holding since the limits were raised, but it's something I keep considering. Letters like the three I got from the AA today telling me my 1.7% account will be 0.25% from August make it appealing.
  • maypolemaypole Forumite
    1.8K Posts
    Part of the Furniture Combo Breaker
    We haven't had anything for the last 5 months and we have the "old" maximum amount invested so we won't be buying anymore.
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