Co-Op 1Year Fix 3.5%???

daveoc22

Just had an email from Which giving their latest 'hot money' deals and they say the best one year fix is with the Co-Op at 3.5%.

Trouble is I've followed their link to the Co-Op site and all it shows is a 3.21% one year fix, which has been there for a week or so.

Anyone know if the Co-Op are about to up their rate, or have Which just got it wrong?.

SnowMan

It is not a mistake, rate available from today I think

http://www.co-operativebank.co.uk/servlet/Satellite/1193206371565,CFSweb/Page/Bank-Savings?WT.svl=nav3

daveoc22

Ah, so it is---was still showing 3.21% earlier.

As I was going to go in next week at 3.21% i'm now a happy person:beer:

alanq

2-year and 3-year rates also increased to 3.75% and 4.00% resp.

jonmcclelland

It's a pretty decent deal. This is also true for Britannia.

opinions4u

Check out the emergency access clause.

Co-op usually have a "no withdrawals unless you're dead" condition on their term deposits.

cepheus

Has the 1yr fix 3.6% at Cahoot been pulled? tried to apply today but it failed.

This seems better for two year since at least penalty withdrawals are allowed BM Savings 2 Year Fixed Rate Bond

Ifts

cepheus wrote: »

Has the 1yr fix 3.6% at Cahoot been pulled? tried to apply today but it failed.

[STRIKE]I think it has, it was showing on Moneyfacts as a best buy for a 1yr fix but its now disappeared.[/STRIKE]
Sorry ignore that, its still showing on Cahoot's website: http://www.cahoot.com/cahoot_products/cahoot_savings/savings_account.html

Unless its something to do with this?:
https://forums.moneysavingexpert.com/discussion/3998483

This seems better for two year since at least penalty withdrawals are allowed BM Savings 2 Year Fixed Rate Bond

Just so you are aware, BM Savings have recently reduced their rates on fixed term bonds, the 2 year fix is now paying 3.65 Gross (annual interest)
http://www.bmsavings.co.uk/savings/fixed-term-savings/

I was going to go for the BM 3yr fixed rate bond @ 4% but that has gone down to 3.8% now, also Close Brothers have removed their 3yr fix @ 4%.
Looks like fixed term bond rates are going down

cepheus

Ifts wrote: »

Just so you are aware, BM Savings have recently reduced their rates on fixed term bonds, the 2 year fix is now paying 3.65 Gross (annual interest)
http://www.bmsavings.co.uk/savings/fixed-term-savings/

Damn I applied for the BM one two days ago hope it wasn't the reduced rate.

I think the Cahoot one is still being advertised, thinking of applying but not sure if they take the money straight away. I would the weekend and Monday to transfer money into my current account.

The application is very confusing asking if you wasn't to pay by direct debit then saying I have chosen standing order!

Ifts

cepheus wrote: »

Damn I applied for the BM one two days ago hope it wasn't the reduced rate.

If you filled in the application for the old rate before BM reduced their rates then they should honour the higher rate (going by previous experience with applying for BM accounts) for you.

I think the Cahoot one is still being advertised, thinking of applying but not sure if they take the money straight away.
I would the weekend and Monday to transfer money into my current account.
The application is very confusing asking if you wasn't to pay by direct debit then saying I have chosen standing order!

Yes you are correct it is still available: http://www.cahoot.com/cahoot_products/cahoot_savings/savings_account.html

Agree the application wording is a little confusing, this thread on here sheds some light on how to open it and how it operates:
Cahoot 1 year savings bond -explanation?

cepheus

If you filled in the application for the old rate before BM reduced their rates
then they should honour the higher rate (going by previous experience with
applying for BM accounts) for you.

Just received the form from BM it says 3.75% so looks like I was just in time!

Now sent it off!