It's sound calculation (happy to share my Google Sheet with you if you want).
Based on the May 2016 prize distribution, the £25 prizes form 83.89% of the total prize pot so everything hinges on them and they are the most numerous.
You *should* be taking 1-2 £25 prizes per month (May 2016) - an average of £325 per annum. What were you getting last year?
Having checked banks, ISas and most other things that dont have a high risk I opted a couple of years back to load some into Premium Bonds and so far I reckon on having made around 3% per year. I also top loaded my OVO utlity account which gives 3% but max of £1000 only allowed.
on 11/02/2017, Max Demian supposed :
Many/most of the accounts I found insist on there being so much per month paid in, 2 or 3 DD's for utilities and a monthly fee for the account. I didn't want any of that, I just wanted somewhere where I could lodge a lump sum and have it earn some interest, yet have access to it when and should I need it.
You can open two tesco bank current accounts and get 3% on £3k in each if that helps. No fees, and no minimum pay in or DDs.
Just make sure you don't get hacked by using a good password and two party login (I assume its available but haven't checked).
Premium Bonds have just been cut too I was reading the other day.
In 2016 I had £450 on £50k, 0.9%. That's slightly less than Loyalty Saver's
0.95%; LS has now dropped to 0.75%. Loyalty is one-way, it would seem.dennis@home was thinking very hard :
Well, that would help a bit - I will take a look, thanks..
Harry Bloomfield laid this down on his screen :
I cannot seem to find that one, the best I could find was 0.96%, or 3% for a Junior Cash ISA intended for the under 18's.
A week or so ago the government announced a reduction in the prize fund from May 2017. So no longer as good.
Alan
2.17million £25 prizes vs 2.27million in May 2016 - down, but not by that much (4% reduction). It is still very favourable compared to savings accounts *if* you can save a sufficient sum to see regular returns.
Premium bonds are highly underrated.
Its the actual current account not a saver. It looks like its only for the first two years.
Have you a direct link to the account please?
They have suspended applications due to demand, some fool posted about it on the net and they have been swamped.
It may or may not reappear.
And the return has just been reduced.
I had 30k in and got sfa over 12 months.
You should have got around £275 in one year (based on 2016).
What did you get?
well of course some fool posted about it on the net
there are hundreds of such sites with info about good offers, there are even some where you can find out what your local supermarket currently has in its marked-down cabinet - which unless you are standing outside the store at the time it is posted will almost certainly be gone before you get there
what did/do they expect?
tim
sfa
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