UBL Bank

colsten

Keeping cash in savings accounts, instant access or fixed term, sis saving, not investing. Investing is when you commit your money for upwards of 5 years in funds etc. Investments typically outperform cash savings in the long run.

YorkshireTraveller

Well it looks as though UBL have dropped their 3 year bond rate to 2.1% as of today.

Chorley Building Society have a 2 year bond paying 2.75% so it's an ill wind and all that!

Ifts

Yorkshire_Traveller wrote: »

Well it looks as though UBL have dropped their 3 year bond rate to 2.1% as of today.

Chorley Building Society have a 2 year bond paying 2.75% so it's an ill wind and all that!

I think the 3 year bond @ 2.7% from UBL disappeared from the best buy tables yesterday (I had a look yesterday on http://moneyfacts.co.uk/savings/fixed-rate-bonds/ and it was not showing), but like you say the 2 year fix paying 2.7% from Chorley BS is better than the old 3 year fix from UBL.

Worked out well for you but go for the Chorley BS asap, something tells me it ain't going to be around for long offering that rate on a 2 year fix.

Chorley BS also have a Members 2 Year Fixed Rate Bond (Issue 1) @ 3% -
(Available to existing members of Chorley Building Society over the age of 18. We define our ‘members’ as anyone who has held a Savings or Mortgage account with the Society since 31st December 2013).


I know in an earlier post you said it was impractical for you to go down the Current account route, but just want to say I have the Santander 123 account and it pays 3% on up to £20K, all you will need to do to qualify is 2 direct debits (easy to set up via Tesco Bank, thats what I did just set up 2 £1 direct debits from my 2 Tesco's accounts) each month and fund the account with £500 each month - you can leave the balance at £20K and once a month just pay in the £500 (easy to do via Faster Payment from an external account) which can/should be taken straight back out as the 3% is only payable on up to £20K balance.

Ifts

Ifts wrote: »

Worked out well for you but go for the Chorley BS asap, something tells me it ain't going to be around for long offering that rate on a 2 year fix.

Chorley Building Society 2 year Fixed Rate Bond Issue 1 now withdrawn:

Important Notice:

A message from Steve Penlington, our Chief Executive;


Thank you for your interest in Chorley Building Society.

Due to the overwhelming success of our 2 year Fixed Rate Bond Issue 1 we have now taken the decision to withdraw the product. Please look around our website to see the wide range of other products we currently have available and we hope to welcome you as a new member in the near future.

Blimey that wasn't around for long!