Fix Your Savings Rate NOW! Article Discussion

freewineexpert

Great savings rate from nowhere!
The Egg Money 4% in credit, credit card rate used to be quite poor, it has not changed while other rates fall and fall and is now a leading rate.
Put your money on your card!

fullstop

Newcastle BS have a fixed rate Postal Bond which matures on 1/2/10 paying 4.5% gross

Interest will be paid on 01/01/10 ? and on maturity Withdrawals allowed without penalty.

http://www.newcastle.co.uk/savings/postalbond

mau408

Halifax's website now has fixed rate 3 months at 3.75%. Yesterday this was 5.8% so for those who jumped for this well done (well providing the BoE doesn't hike - which may appear unlikely so). Thats a whooping difference of 2.05% before tax of course!
As this product was leading the list on this website I thought I might point out that the regular saver (which doesn't appear on this list) is 7% or was last time I looked and fixed rate for 1 year.

gelato_cat

Church of England as opposed to Bank? Well, I spose, the only thing we can do now is pray the rates go up!

Suze

mau408 wrote: »

Halifax's website now has fixed rate 3 months at 3.75%. Yesterday this was 5.8% so for those who jumped for this well done (well providing the CoE doesn't hike - which may appear unlikely so).

SPACON

Hi, I went into a barclays branch today to see if I could open a monthly savers account for the 7.75% rate described in the weekly email and they knew nothing about it and only would quote the 6% rate. Did anyone have any luck with this? Who did Martin mean when he said his team had contacted Barclays with a guarantee of this rate before December 31st?

TomJ

SPACON wrote: »

Hi, I went into a barclays branch today to see if I could open a monthly savers account for the 7.75% rate described in the weekly email and they knew nothing about it and only would quote the 6% rate. Did anyone have any luck with this? Who did Martin mean when he said his team had contacted Barclays with a guarantee of this rate before December 31st?

i went in today and the lass I dealt with didn't know the rates, so read them straight from the computer, which said 7.75% for accounts opened and funded this month.

mojacar44

Newly_retired wrote: »

Can anyone update us with the latest best fixed rates since the bank rate cut today, please?

I recently applied online for a 5.75% Fixed-rate Bond Cash ISA with the Halifax, by the time all the administration was completed I was the proud owner of a 4% Fixed-rate Bond Cash ISA wrapper. I have declined to put any funds in the wrapper. A similar thing happened with the Nationwide. I am also transferring a previous Cash ISA to another new provider, a process that could take up to six weeks; I expect to lose out again. It is very difficult to do the right thing.

SPACON

TomJ wrote: »

i went in today and the lass I dealt with didn't know the rates, so read them straight from the computer, which said 7.75% for accounts opened and funded this month.

Really thats great to hear, I had the same problem as you. I even went to two separate branches. So I looked on the interest rates available on their site but it says this 7.75% rate is for accounts open up until 30/11/08. Here is the link: http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=popup1group&value=14974&target=_blank&site=pfs

Unless they changed the text on the site after you opened yours :rolleyes:! If you can advise where you showed them the 7.75% rates valid until the end of this month I would really appreciate it. Thanks.

miss_keep_counting

I currently have £3700+ in an ISA with Alliance + Leicester, 21k+ in a 3.6% variable rate with them (was 6ish when I originally joined, my interest has now dropped £45ish a month)

I had a look on the MSE savings pages and decided I’d like to have a regular saver so I have a smaller amount building for emergencies which I can access easily, and so removing money will not then affect my larger already built savings interest.

I originally was going to go for Abbeys Monthy Saving account as my wage goes into Abbey but after visiting a branch I’ve decided to do the below:

-Keep £3700+ in A+L ISA.
-Set up Super Fixed Rate Monthly Saver with Abbey – 12 months, £250 a month, 7% gross p.a./AER if no withdrawals, drops 6.43% if one made, make any withdrawals in a calendar month, the Lower Interest Rate of 0.10% gross p.a./AER will apply on the whole of your savings balance for that month only.
-I was told I can then set up linked accounts, I must put the same amount in each, so I’m planning 5k in each but can put 10k only down side is if house prices hit bottom and I want to buy I wont be able to access my money in the 3.5 years… but… it’s a 3.5 year, min return 5.1%, max 35% (but guessing 5) and the other account is 5.5% gross fixed for one year.
-This will leave 11k or 1k which I will then shove into another ISA come April if the smaller, or fill the ISA and then try and find somewhere else sensible to put the rest….

Question is, will it be wise for me to put in the 10K maximum? And is this Abbey offer a good idea? I have my meeting with them on Monday so fingers crossed the offers are still standing

minimike2

"Fix your savings now"

Yet another dangerous piece of adivce from here. Lets add it to the list.

1. Icesave
2. Fix your mortgage now (High fixed rates in Summer 2008)
3. Take a capped energy tarrif now (Summer 2008, prices now dropping)
4. "Got it wrong, maybe you should break your fixed rate now and take a tracker" (Even though base rate is so low that new tracker customers can only lose from taking a tracker in reality).
5. Fix your savings IMO will be the next bad piece of advice.

Why would you want to fix your savings at rates currently on offer.

Rates are not going to stay like they are now for more than 12 - 18 months MAX. Some of these accounts that lock you in require a FIVE YEAR commitment.

How many people are going to tie their money up in an account with low interest now.

All these blunders over the past year and people are still taking advice from here. Unbelieveable to be honest