Premium bond prizes


(Robert Harper) #1

As there is no interest paid. Do you think we could put money in pots to have a chance of winning a prize! So each £1 is one entry but you don’t lose the money. Doesn’t have to be a cash prize even


#2

Interest payments are coming to pot(s) soon and I would imagine there would be some sort of rules against this.


(Robert Harper) #3

Yeah I guess so but Monzo gets through red tape. I would prefer a prize draw for a decent amount rather than just 1% interest etc


(Excited about Christmas) #4

Agree - that would be awesome. I dont think banks are allowed to do that though. A share ISA in a pot would be good…


#5

Do you really think that they are going to offer 1% interest? :grin:

I cannot foresee above 0.5% at the moment. Assuming they go that high!


(Nick Taylor) #6

It’s been more or less confirmed that the savings provider will be Shawbrook, who offer 1.3% instant access, so not unrealistic at all.


#7

But their minimum opening balance is £1000 so I hope it’s a slightly different product to remove that restriction


(Change Works) #8

It’ll be interesting to see whether the balance in a savings pot held with a third party provider is counted as part of your Monzo balance.


(Vladislav Kozub) #9

Monzo have shared few screenshots recently and the interest there was 1.2%

But that may change