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My mother has given us some money for home improvements which won't be done before March at the earliest. Am I right in thinking chucking it in Premium Bonds for 3 months is as likely to earn us a few quid safely as any other investment?
You won't be eligible for entering the premium bonds draw until 1st February 2022. Then there is no guarantee that you'll win anything. You won't lose any money either.
you'll miss out on a month and three quarters. Also there is a bit of a delay in withdrawing it.
If its going to be march/aprilish you want to withdraw you are only going to be "in" for about half the duration - and so the average return rate will be half of that advertised.
So you might be able to do better elsewhere.
stick it on black
or is it red?
Put it all on RED 😉
I’ve got a fair sum in Premium Bonds at the moment and some months lucky to get £25 - payouts are rubbish, interest rates on Income Bonds and other saving accounts are derisory too
MCJnr has about £600 of Premium Bonds since last July, think he's won 3 lots of £25 since then.
Just stick it in the highest rate instant access savings account you can find. It'll be less hassle
think he’s won 3 lots of £25 since then.
Hes done well there
Hes done well there
He's annoyingly good at most things. He doesn't get that from me.
Bitcoin 😀
I’d say yes, but expect nothing and be happy if you get something! There’s no such thing as a high interest savings account anymore, and it’s only 3 months. And you never know you might win big!
Also if your builder is like any other tradesman I’ve tried to use recently you’ll have them for 12 months anyway!
Bitcoin
Put it in polkadot on Kraken instead and stake it, you get 12% interest.
Edit - overall value obviously subject to massive fluctuation, but you could strike it lucky!
Just stick it in the highest rate instant access savings account you can find. It’ll be less hassle
This