imutual.co.uk

we have some Premium Bonds and we're potentially looking at cashing some in, prior to the end of the year, and then reinvesting in the new year.

i've been looking on the NS&I site, and it doesn't seem entirely clear.. would it be best to leave the bonds in place until we're into December, and then reinvest in January? i think if we do that we'll miss both the December and January draws - does that seem right?

https://www.nsandi.com/premium-bonds

When do Bonds go into the draw?

Your Bonds become eligible for the draw one full calendar month after you buy them. So when you buy Bonds in November, they’ll be in every draw from January.

So as I read it, if you buy in January they will be in the draw from March. You will miss two months.

The draw is at the beginning of the month so if you cash out in December it will be in the draw for that month.

with you, thank you William.. it's a shame to have to miss out in two draws really.. we'll try to leave as many in place as possible. i need to get hold of some Co-op Savings, for example, in advance.

But why do you want to withdraw them and buy back in?

kevinchess1 wrote: ↑

Sun Nov 17 2019 11:13pm

But why do you want to withdraw them and buy back in?

My guess is "need the money".

AAAlphaThunder wrote: ↑

Mon Nov 18 2019 7:48am

kevinchess1 wrote: ↑

Sun Nov 17 2019 11:13pm

But why do you want to withdraw them and buy back in?

My guess is "need the money".

My assumption as well but none of my business why you need money short term. But if you do then this is the best way as you are not spending money on interest payments and the odds are you will not win in those two months any significant amount

blythburgh wrote: ↑

Mon Nov 18 2019 10:44am

My assumption as well but none of my business why you need money short term. But if you do then this is the best way as you are not spending money on interest payments and the odds are you will not win in those two months any significant amount

But...if you don't need the money - don't do it. There is no other advantage.

yes, 'need the money' short term. need to repay a loan in December but can re-borrow again in January.
it does seem a shame to miss out on draws for two months when we only need the cash for a few days, but i can't see any way round it, and will work out how little we can get away with cashing in.

The minimum investment or top-up for Premium Bonds has now been reduced to just £25.

http://nsandi.com/25

greater flexibility is positive.
fwiw i didn't cash any in before the year end, after all. as it stands i will cash all of my PBs in during December this year though.