NS&I savings: ‘Signs point to higher interest rates’ as Premium Bonds fall behind | Personal Finance | Finance
It may be the ideal situation for people who are completely risk averse and do not want to invest their savings.
Money investing into Premium Bonds are entirely safe, so one never has to worry about potentially taking out less than they put in.
Additionally, the prices are all tax-free, with minimum opening amounts of £25 making it accessible to more people than fixed savings accounts that may require higher deposits.
Mr Chapman-Lyes commented: “Nevertheless, given the current dizzying heights of inflation, Premium Bonds may not be right for you if you are looking for guaranteed returns, although even the current best fixed rate savings account would not come close to beating the current rate of inflation and it will continue to increase further if forecasts are correct.”
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