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NS&I Premium Bonds Alternatives?


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Is there a safe alternative to NS&I premium bonds? Can't say I was overly disappointed as I got around 1.2% last year, but with rate drops over time, it's as good as useless.

Not really looking for anything risky at this stage, as I'm looking to buy a house etc, so this is just money for safe keeping that's currently doing very little.

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House it is then. I suppose it was above inflation, but it's still a pretty depressing return. And I suppose everything's safe until it's not. If the whole world come crashes down and I'm paid via a guarantee after a tonne of money is printed, it's not worth anything at all really is it.

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On 23/02/2021 at 09:12, mkil said:

As good as useless?  Have you seen the safe returns elsewhere? lol.  Premium bonds still offer the best safe return if you've got several thousand or more in there.

We thought we'd try them and bought two lots of £50k. Today was our first draw and each lot paid out £25, equivalent to 0.6%pa by my reckoning. Well, it's a start :).

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Ironically. Completely forgot about this. Me, my parents and my granddparents all have a good chunk. All getting consistent prizes, and a % return roughly to what they suggest. I wish there was a more intense option, where they scrap prizes below like £1k or so. From memory those prizes make up around 70% of the number of "winners". Soon, reduce the number of winners, and just when I get one, it's a real good one!

I was 1.2% 2020. Others were around 0.9% and 1% ish I think.

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  • 1 month later...

Nearly all my savings accounts with half decent rates have come to an end. 

My last NS&I account which was 5 years index-linked to RPI + 0.01% expires early May.  It's just under £20k but I'm lost as to where to put it.  They are offering a 3 year index linking to CPI + 0.01%.  I know it's crap but there are no good options.

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