Yorkshire Bank 4% fixed rate 2 year bond

Derivative

Anyone on this board managed to open one through branch?

I am thinking of going down there with my debit card and asking them to open the account there and then to save hassle with all the forms through the post - will I have any luck or is it all administered in an office somewhere else?

RetiredInThailand

I opened the 5 year version in-branch with no difficulty at all. I did it in person mostly for the ID/address requirements as it's so much easier when they can see the originals.

Derivative

RetiredInThailand wrote: »

I opened the 5 year version in-branch with no difficulty at all. I did it in person mostly for the ID/address requirements as it's so much easier when they can see the originals.

Thanks for the reply.

How did you pay them? I'm a little worried about leaving the deposit sitting around in my current account generating no interest.

RetiredInThailand

I gave them a cheque. It was cashed 3 days later (normal clearing time).

Derivative

Went in and as you said, asked for ID, sat in a room with manager for a bit, sorted. Thanks for the help.

Worked out that I 'lose' £1 interest per week by keeping £2k in my current account. Hardly worth worrying about, oops!

Gromitt

EdgEy wrote: »

Worked out that I 'lose' £1 interest per week by keeping £2k in my current account. Hardly worth worrying about, oops!

Make that 3K and open a Lloyds Vantage current account, and they'll give you 3% which is about £7.50 per month. I was thinking of making the 3K my 'baseline' (ie, so with all bills paid, its still >= 3K) to make the most of it.

Derivative

Gromitt wrote: »

Make that 3K and open a Lloyds Vantage current account, and they'll give you 3% which is about £7.50 per month. I was thinking of making the 3K my 'baseline' (ie, so with all bills paid, its still >= 3K) to make the most of it.

I had thought about using the Vantage account, but I don't pay bills often enough for it to really be worth the hassle of switching over.

I have a £500 interest free overdraft with Halifax, so all of my bills just go out of that and I move the money over from savings.

Thanks for the advice though.

A_Flock_Of_Sheep

It stitches your cash up for 2 years. If it was 4% instant access then I would be impressed.

Derivative

A_Flock_Of_Sheep wrote: »

It stitches your cash up for 2 years. If it was 4% instant access then I would be impressed.

Not posted this as an advert, simply wanted a bit of info.
Fixed term accounts are great for planning for known expenses. I am graduating in two years and know I will have no use for the money until then.

For Instant Access to beat this account, rates would have to go up to 4% immediately, or roughly 5% by this time next year. I don't believe that is very likely.

A_Flock_Of_Sheep

EdgEy wrote: »

Not posted this as an advert, simply wanted a bit of info.
Fixed term accounts are great for planning for known expenses. I am graduating in two years and know I will have no use for the money until then.

For Instant Access to beat this account, rates would have to go up to 4% immediately, or roughly 5% by this time next year. I don't believe that is very likely.

Pity. I wish you could get 10%+ like years ago on your instant access savings. I am sick of low interest rates and toadying to borrowers.

Derivative

A_Flock_Of_Sheep wrote: »

Pity. I wish you could get 10%+ like years ago on your instant access savings. I am sick of low interest rates and toadying to borrowers.

As a youngster what bothers me is not low interest rates now, but the fact I'll probably miss the boat on low mortgage rates.

4% on a deposit sucks, but 7-8% on a home would hurt more. Here's hoping for depressed prices in the next decade or so.

:P