Resolved Question

Premium bond or cash isa?

In this and the next few years, which is the better for up to £6000 per Year.

Best Answer - Chosen by Asker

I'm afraid I disagree - interest rates on ISA's are dreadful and just another way of the banks making more out of us at the moment - I advocate premium bonds - but spread them around in blocks - for the short term at least - chance to win without feeding greedy bankers. If rates start rising then put into an ISA other than that - put it under your bed until the banks get their acts together and start treating customers as their owners rather than leeches.

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Other Answers (5)

• The maximum you can pay into an ISA per tax year is £3600 & that is obviously tax free! The amount will increase to £5100 form April or it already is £5100 if you are 50 years+. I don't know an awful lot about premium bonds but I have an ISA & it's a great way to save.
• ISA is by far your most profitable route.

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• Premium bond, don't think this is a good time to tie up cash in an isa as interest rate too low and about to go up.
• Isa with rates going up soon
• 6