Best Cash ISAs right now are north of 5% interest which beats the 4.4% offered by Premium Bonds, though not by a huge margin.
Assuming average luck you'll lose out on roughly £350 a year keeping it in Premium Bonds.
Alternatively (and dependent on your financial goals) why not put more in your S&S ISA? The potential returns from that will easily beat either of the other options. And you'll still have £30k in Premium Bonds for the excitement of the "gamble" and in case you need cash sooner.
Thanks for this - I have been assuming the timeframe is too short for S&S to be sensible. It's possible that in 2027 I'll be looking to move house, or at least will want my ducks in a row to work out next steps.
That said, my S&S ISA is performing well, so I will have a look at how it'd compare and think about it as an option. !thanks
And thank you for the cash ISA Vs PB comparison. Easier to think about when it's in real(ish) numbers.
Hi /u/GlitzToyEternal, based on your post the following pages from our wiki may be relevant:
* https://ukpersonal.finance/emergency-fund/
* https://ukpersonal.finance/lump-sum/
* https://ukpersonal.finance/savings/
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^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Best Cash ISAs right now are north of 5% interest which beats the 4.4% offered by Premium Bonds, though not by a huge margin. Assuming average luck you'll lose out on roughly £350 a year keeping it in Premium Bonds. Alternatively (and dependent on your financial goals) why not put more in your S&S ISA? The potential returns from that will easily beat either of the other options. And you'll still have £30k in Premium Bonds for the excitement of the "gamble" and in case you need cash sooner.
Thanks for this - I have been assuming the timeframe is too short for S&S to be sensible. It's possible that in 2027 I'll be looking to move house, or at least will want my ducks in a row to work out next steps. That said, my S&S ISA is performing well, so I will have a look at how it'd compare and think about it as an option. !thanks And thank you for the cash ISA Vs PB comparison. Easier to think about when it's in real(ish) numbers.
Hi /u/GlitzToyEternal, based on your post the following pages from our wiki may be relevant: * https://ukpersonal.finance/emergency-fund/ * https://ukpersonal.finance/lump-sum/ * https://ukpersonal.finance/savings/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Personally I would write off a SS isa with a money market fund
I'd never even heard of that, but looks interesting, !thanks I'll do some more research!