Premium bonds best place for 30K short term
Premium bonds best place for 30K short term
Author
Discussion

mikef1

Original Poster:

126 posts

249 months

Sunday 2nd March 2014
quotequote all
As per the title its a relatively easy one.

Might need access next week might not be for 3 months is there anything else I'm missing?

Thanks

hidetheelephants

36,212 posts

223 months

Monday 3rd March 2014
quotequote all
Safe but the return rate is a bit pony; I was getting 2.5% for a while but it's dipped down to 2.2 recently.

Revisitph

983 posts

217 months

Monday 3rd March 2014
quotequote all
I don't think new investments are entered for the draw for the first month so you lose any potential "interest" on a third of your 3 month term, which brings the rate down significantly and if you could need the money in a week remember it will take a week or more to get it out again.

megaphone

11,693 posts

281 months

Monday 3rd March 2014
quotequote all
I'd say premium bond for only 3 months is not worth the aggro. Just stick it in a easy access account.

theaxe

3,571 posts

252 months

Monday 3rd March 2014
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I found withdrawls took more like 48 hours but YMMV.

BoRED S2upid

21,081 posts

270 months

Monday 3rd March 2014
quotequote all
I won £25 on my first draw how much would other options make? It's worth the risk of not winning anything if you ask me.