Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.
Two lucky premium bond account holders started 2021 £1 million richer as winners of the January 2021 premium bond prize draw.
The first winner was from West Scotland and held the premium bond number 330VT557685, while the second, from Barnet, held the premium bond number 135RY390643.
In addition to the two £1 million prizes, the January 2021 draw saw four premium bond holders win the second best prize of £100,000, and 10 people won the third prize of £50,000. A further 17 premium bond holders won £25,000, 43 won £10,000 and 89 won £5,000. Millions more premium bond holders won prizes between £1,000 and £25.
Premium bond holders who want to check to see if they were a winner in the January 2021 prize draw can do so using the nsandi.com prize checker or via their Alexa-enabled device from the 2 December 2020. The premium bond hold’s number will be needed to check the results on the website. To check the results via the app, the NS&I number or holder’s number is needed.
Although premium bonds have the advantage of offering a tax-free and secure place to deposit savings, it has the disadvantage of not guaranteeing any return on investment. This means that even those with the maximum premium bond investment of £50,000 cannot guarantee that they will win in the monthly prize draws. As such, those looking for a return on their investment may consider alternative options.
For those who want to earn interest on their savings choosing a fixed rate bond or a fixed ISA may be the best option. A fixed rate bond and ISA will guarantee a rate of interest for the fixed term of the account, with fixed rate ISAs having the additional benefit of offering a tax-free savings account up to a maximum of £20,000 for the 2020/21 tax year. While fixed rate savings accounts and ISAs offer a guaranteed rate of interest, savers should be aware that interest rates are low at the moment and, as a result, if inflation increases it may erode savings over even with interest added. To see the current best rates on offer visit our fixed rate bond and fixed rate ISA comparison charts.
Consumers willing to take a risker option which could result in greater returns on investments, could consider a structured deposit account. Although these accounts do not risk the initial capital invested, they do have the risk of not generating any interest on the initial deposit. A structured deposit will have a fixed term and the level (if any) interest gained will depend on the performance of a stock market index, such as the FTSE 100. For more information about structured deposits read our guide What is a structured deposit product?.
For those willing to risk their initial capital, another option is investing in a stocks and shares ISA. A stocks and shares ISA is tax-free up to an investment of £20,000 for the 2020/21 tax year and money is invested in stocks and shares (bear in mind that the annual £20,000 ISA limit applies across both cash ISAs and stocks and shares ISA combined). Whether a return is generated depends on how the investor’s stocks and shares perform, with the possibility of earning much greater returns that with savings accounts, cash ISAs, and structured deposit accounts, but those considering this option should be aware that they can also result in not generating any returns at all and they could even end up losing their initial deposit. Those considering a stocks and shares ISA can read more about this type of investment on our stocks and shares ISA page.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Inflation increased to 9% today following April’s announcement from the Office for National Statistics (ONS). It means inflation is now at its highest level since 1982. “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the higher price cap came into effect,” said Grant Fitzner, Chief Economist at ONS.
Inflation increased to 9% today following April’s announcement from the Office for National Statistics (ONS).
Lloyds Bank will incentivise any customers switching from another bank to its Club Lloyds or Club Lloyds Platinum Account with a £125 cash bonus. The offer is available with immediate effect and is only available through the Current Account Switch Service (CASS) until 27 June.
Lloyds Bank will incentivise any customers switching from another bank to its Club Lloyds or Club Lloyds Platinum Account with a £125 cash bonus.
In light of the ongoing cost of living crisis in the UK, it is likely that the word “affordability” is on your mind. Added to this, if you are approaching your 40s and 50s, you could be shouldering many financial responsibilities.
In light of the ongoing cost of living crisis in the UK, it is likely that the word “affordability” is on your mind.
Inflation increased to 9% today following April’s announcement from the Office for National Statistics (ONS). It means inflation is now at its highest level since 1982. “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the higher price cap came into effect,” said Grant Fitzner, Chief Economist at ONS.
Inflation increased to 9% today following April’s announcement from the Office for National Statistics (ONS).
Lloyds Bank will incentivise any customers switching from another bank to its Club Lloyds or Club Lloyds Platinum Account with a £125 cash bonus. The offer is available with immediate effect and is only available through the Current Account Switch Service (CASS) until 27 June.
Lloyds Bank will incentivise any customers switching from another bank to its Club Lloyds or Club Lloyds Platinum Account with a £125 cash bonus.
In light of the ongoing cost of living crisis in the UK, it is likely that the word “affordability” is on your mind. Added to this, if you are approaching your 40s and 50s, you could be shouldering many financial responsibilities.
In light of the ongoing cost of living crisis in the UK, it is likely that the word “affordability” is on your mind.
Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.
I accept. Read our Cookie Policy