Fix Your Savings Rate NOW! Article Discussion

brooza

brooza wrote: »

Me (unless the rate changes between me signing up and the letter coming to me)

According to my online banking -
Fixed rate 6.82% Gross p.a.

8tpercent

Dan29 wrote: »

Careful with Halifax - when they drop the rate you get they sometimes don't update their website advertising until the next day.

Speaking of the Halifax... just keep an eye out on their offers....I Signed up for a special offer Halifax Guaranteed Saver Reward (which ended on 27th Oct and was at FIXED at 5.5%). Today, they have the SAME special offer at FIXED 6%. The only way to get the higher rate is to cancel the 5.5% account and re-setup a new one at 6%.. considering I only got the account two weeks ago, not happy

neilsedaka

I already have money in a Bradford & Bingley Internet Saver 3, so it was easy a few minutes ago to click the link in the My Accounts page to Fixed Term eBonds and open a 3 year eBond (issue 38) fixed at 6.00% within seconds. I know that 6.00% is nowhere near the best but I already already have several fixed rate accounts with other banks at over 7% and it was easy to do this one immediately.

brooza

8tpercent wrote: »

Speaking of the Halifax... just keep an eye out on their offers....I Signed up for a special offer Halifax Guaranteed Saver Reward (which ended on 27th Oct and was at FIXED at 5.5%). Today, they have the SAME special offer at FIXED 6%. The only way to get the higher rate is to cancel the 5.5% account and re-setup a new one at 6%.. considering I only got the account two weeks ago, not happy

I noticed that when I was in the branch earlier - they had posters up for both offers

brooza

neilsedaka wrote: »

I already have money in a Bradford & Bingley Internet Saver 3, so it was easy a few minutes ago to click the link in the My Accounts page to Fixed Term eBonds and open a 3 year eBond (issue 38) fixed at 6.00% within seconds. I know that 6.00% is nowhere near the best but I already already have several fixed rate accounts with other banks at over 7% and it was easy to do this one immediately.

That's similar to the Halifax one - 3 years fixed is 6%
[FONT=Arial, Helvetica]ate[FONT=Arial, Helvetica](AER)[/FONT][/FONT]
[FONT=Arial, Helvetica]3 mths - 7.00%[/FONT]
[FONT=Arial, Helvetica]6 mths - 6.00%[/FONT]
[FONT=Arial, Helvetica]9 mths - 6.50%[/FONT]
[FONT=Arial, Helvetica]1 yr - 6.50%[/FONT]
[FONT=Arial, Helvetica]2 yrs - 5.85%[/FONT]
[FONT=Arial, Helvetica]3 yrs - 6.00% [/FONT]
[FONT=Arial, Helvetica]4 yrs - 5.75%[/FONT]
[FONT=Arial, Helvetica]5 yrs - 5.70%[/FONT]

EDIT: Just noticed this in the details

[FONT=Arial, Helvetica]Minimum opening balance - £500
[FONT=Arial, Helvetica]Maximum balance - £9 million per account[/FONT]

[/FONT]

ashm1

I dunno should we fix? I think the discounting on the high street will be heavy this year so might be able to grab some bargains.

Alternatively if you think it's a long deflation where rates get pushed towards 0% then might make sense to fix.

Need to look at cashflow I guess.

antispam246

Just when I thought I had it all sorted I think in todays climate, it's best to put it all on red.

On a serious note, I made a post yesterday addressing the issue of checking current uup-to-date interest rates. There doesn't appear to be a site or anything as such dedicated to it, but just incase there is, I'd love anyone to direct me towards one.

This was what I was asking
http://forums.moneysavingexpert.com/showthread.html?p=15539705#post15539705

oshoshitzu

janetsr wrote: »

I applied for the Saga fixed rate savings - online - yesterday. They responded that the docs would be posted out to me. Will I still get the quoted interest rate or if they change today, am I too late?

I was going to open this account. Because the initial deposit has to be by cheque can I open it with £1 then do a bank transfer for a much larger amount?

JimmyTheWig

A while ago Egg were doing a "fixed rate for a year" account without requiring you to keep the money fixed in there. See http://forums.moneysavingexpert.com/showthread.html?t=1097723.

They're no longer doing it, but those of us who signed up will be smiling!

The point of this post, though, is are any other banks doing a similar product?

Reaper

oshoshitzu wrote: »

I was going to open this account. Because the initial deposit has to be by cheque can I open it with £1 then do a bank transfer for a much larger amount?

No because you can't add to it later. From their web site:
"No withdrawals or additional deposits will be allowed during the term of the account"