Premium Bonds are not great at the mo either as the rate of return is not very good at the mo (Each month’s prize fund is equal to one month’s interest on the total value of all eligible bonds. The interest rate used to calculate the prize fund, the number of jackpots, the share of prize fund allocated to each prize band and the odds of winning are all variable, so they may change from time to time.)

Best I would say is to pay off any debts – highest interest rate first. If anything leftover either overpay mortgage or put in ISA – cash short-term, stocks long term.

Posted 9 years ago