Premium Bonds - If you post to say how much you've won, please also say how much you have invested.

Chabsy said:
I am wondering is I can do another draw before this year's isa closes. Draw on the 2nd April due to Easter 3 days to get a bank transfer and then open an isa. Looks very tight.
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very tight indeed.
I've withdrawn my money today (02/03) ...seems like it'll take 3-4 working days to clear

The money will be in your account by the end of 7 March 2024.
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Are premium bonds (and winnings) tax free?
It seems it might be a good idea if you put 30k plus into them, but a bit pointless otherwise?
Assuming you've already maxed out your ISA allowance..
But the money is pretty much tied up unless you just cash out and re-invest into some other investment vehicle?

I mean if you can make four or five percent tax free profit over a twelve month period that's fairly decent?
 
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mattyfez said:
Are premium bonds (and winnings) tax free?
It seems it might be a good idea if you put 30k plus into them, but a bit pointless otherwise?
Assuming you've already maxed out your ISA allowance..
But the money is pretty much tied up unless you just cash out and re-invest into some other investment vehicle?

I mean if you can make four or five percent tax free profit over a twelve month period that's fairly decent?
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Yes they are tax free.

I have my savings in premium bonds because of the small chance of winning a larger prize. When I put them in a few years ago, savings rates were crap so I thought it the better option. Id earn more now most likely in a savings account but then lose the chance at bigger prizes so I've stuck with the PB.
 
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