next question it’s not me who makes it complicated right what would you like to ask right a great thousand pound currently half of its in an instant aye sir the other half I’ve got in Premium Bonds and I’m just wondering where the best place is deposit so the maximum interest what’s your rights are paying eight thousand pound no what happens the interest rate oh sorry it’s I’m just getting about one pound fifty a month and how much is in that Wow okay good now you’re testing the okay it’s trivial it’s about cultural percent or something and yeah it’s fine well that’s awful look premium bonds are very difficult to work out whether they’re better or worse the rate is going to be dropping on them but at the moment the rate isn’t too bad but of course it depends on luck because it’s a lottery of whether you’ll get the interest or not if you’re happy with that and you want to take that gamble it’s not the worst thing in the world for the rest of the money or if you want to move it all across things I’d look at at the moment switching to high interest bank accounts really pays for you Bank of Scotland is offering three percent on up to five thousand pounds and you can have three of them though you’ve got a set of direct debits and minimum payments on all of them that’s dropping to two percent in June but that’s still pretty good out there one other thing I’d look at and I’d say this right now for everybody listening on the six of April announced in the budget there’s a new NS&I bond that is meant to be very generous basically it pays 2.2 percent fixed for three years on up to three thousand pounds that’s going to be launching on the 6th of April but right now Atem Bank which is an app operated Bank is offering two point two percent fix for three years on up to a hundred thousand pound well now of course you only get the saving safety protection and it’s fully saving safety protected up to eighty five thousand pounds per person so you might not want to put more than that in it but you could put all your money in there at two point two percent for three years which is you know anomalously high compared to the rest of the market or lock it away for two years at two point one percent with the same place or one year at one point eight percent you just want somewhere to put your savings where you don’t have to switch to a bank account to do it that’s very good I think that’s gonna go quick because those rates are going to disappear quick outside you’ve got AXA will she have access to her eight thousand no but sit in there your fix a two-year fix or a three-year fix you put the money in you can’t touch it for that time do you need access to it no not really no then then those are and especially because basic most 95% of people don’t pay tax on savings interest anymore because you’re allowed to earn a thousand pounds of interest a year as a basic rate taxpayer without paying tax on it I would think either go to the high interest bank accounts or at on atom Bank it dropped its one-year fix rate last week I think the other rates are going to drop so getting that great if you’re gonna do it all right
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