It promised a unique safe haven, but…
Premium Bonds are operated by NS&I which is treasury-owned so your capital is as safe as it gets. This safety used to be a special charm, but these days all UK regulated savings accounts are protected up to £75,000 per person, per institution, by the Financial Services Compensation Scheme. However, the maximum you can put in premium bonds is £50,000 – so the safety boon isn’t as big.
Premium Bonds are certainly not as good as they used to be, but ultimately it’s only worth re-allocating your cash if there’s something better out there.
So unless you’re extremely lucky, premium bonds earn far less than the top savings and most investments – the safest bet is to get rid of them.
The key to managing your wealth is to diversify and, if you want the potential for growth in this low interest rate environment, then the first option is to look at investing. Get in touch with Blacktower to find out more.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Given the financial and political situation in Britain and Europe right now it is likely that more and more British people will look to move their pensions out of Britain, with a QROPS in France possibly the most popular potential option.
A luxury property in the Canary Islands is up for sale. No, this doesn’t sound like news, but there’s an important and unusual detail: the five-bedroom villa in the lofty hills of La Caleta, Tenerife, is being sold for 525 Bitcoins (approximately €3.2 million).