Atom Fixed Savings

User3890

Im not seeing Atom in the MSE Top Savings Account guides even though they are 1.83% - any reason they aren't listed?

I wished id open one a few months ago when its around 2%.

Anyway, I was thinking of opening a 1 year fixed and a 6 month fixed.

ColdIron

Maybe because their rates are far from top and there are many better accounts?
That 1.83% rate is only if you lock your cash away for 3 or 5 years which is a terrible deal and you would be better off with Marcus at 1.50% easy access than fixing for 6 months at 1%
https://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html

Sally57

ColdIron wrote: »

Maybe because their rates are far from top and there are many better accounts?
That 1.83% rate is only if you lock your cash away for 3 or 5 years which is a terrible deal and you would be better off with Marcus at 1.50% easy access than fixing for 6 months at 1%
https://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html

For some reason the link to thisismoney doesn't include BLME in its charts but does have Al Rayan?

AnotherJoe

ColdIron wrote: »

Maybe because their rates are far from top and there are many better accounts?
That 1.83% rate is only if you lock your cash away for 3 or 5 years which is a terrible deal and you would be better off with Marcus at 1.50% easy access than fixing for 6 months at 1%
https://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html

Whilst true, you can also get pretty much the same, 1.80%, for 1 year with Atom. 0.03% isnt going to make any real difference.

Which is better than 1.5% with Marcus


I've got a couple fixed with Atom which expire early next year will be interesting to see whats around then. It does look as if Atom really dont give you anything significant for more than a 1 year fix. But if you are already with them then a new 1 year with a small decrement on what you could get elsewhere might be more tempting than having to jump through hoops to xfer. And no doubt they bank on that. No pun intended.

User3890

I've had a Marcus since launch and was thinking of putting half of that into something else with slightly higher interest rate and so I don't mind it being locked for 1 year, maybe 2 (rates might decline next year?).

The 6 month on Atom was better last time I looked but yes now its pointless - its better in Marcus.

18cc

Am I missing something here the Atom Bank 1 year bond is 2% I have just renewed mine at that rate.

ColdIron

Sally57 wrote: »

For some reason the link to thisismoney doesn't include BLME in its charts but does have Al Rayan?

Yes, I don't know why. I've just gone for the BLME 18 month 2.25% via HL. Cracking deal

User3890

Atom changed from 2 to 1.8 on 29 August 2019, I just missed it by 2 days.

ColdIron

18cc wrote: »

Am I missing something here the Atom Bank 1 year bond is 2% I have just renewed mine at that rate.

Maybe they offer preferential rates for renewal? Some like Investec always do this

AnotherJoe

ColdIron wrote: »

Yes, I don't know why. I've just gone for the BLME 18 month 2.25% via HL. Cracking deal

Is that via their relatively new active savings scheme?

I might check that out in the new year then.

quirkydeptless

AnotherJoe wrote: »

Is that via their relatively new active savings scheme?

I might check that out in the new year then.

Yes, but note that the BLME 18 month 2.25% ends tomorrow!