Anyone rush to open a fixed rate account today?

pearl123

Yes, a 3 year 1.75% fixed with RCI Bank. Just in case this virus comes in waves, which I hope it does not. 

st182

I'm in this boat too. I'm an HL active saver, so put £1000 into a metro 1.49% fixed rate for 18 months. I get the feeling that may be the last for a while!

ANGLICANPAT

The HL active cash saver people are talking about with HL  -  Do HL not  charge for  one having  for instance  a fixed  2yr cash saver with  whatever bank in their list ?  What is the difference between  that and going direct to  whatever bank?

Mrbeethoven

ANGLICANPAT said:

The HL active cash saver people are talking about with HL  -  Do HL not  charge for  one having  for instance  a fixed  2yr cash saver with  whatever bank in their list ?  What is the difference between  that and going direct to  whatever bank?

No, they don't charge.

You might possibly find a very slightly better rate going direct (perhaps 0.1%) but definitely not for everything. Even if there is a 0.1% lower rate with HL I reckon it's worth it for easy switching without having to open new accounts and transfer money over upon maturity or when easy access rates change.

ColdIron

ANGLICANPAT said:

The HL active cash saver people are talking about with HL  -  Do HL not  charge for  one having  for instance  a fixed  2yr cash saver with  whatever bank in their list ?  What is the difference between  that and going direct to  whatever bank?

No. They charge the bank up to 0.25%, not you

Mrbeethoven

The United Trust Bank 1.5% 1 year fix on HL Active Savings, which I went into this morning, has now gone. The best 1 year fix left on there at the time of writing is Paragon Bank at 1.41% which is exactly the same as if you went direct to Paragon.

Shedman

Ford Money 1 year @ 1.55% and 2 year @1.65% still seem to be available.  Wife already a Ford Money account so she opened a 1 yr Fix....just got to decide where the money's going to come from but got 14 days to top it up.  

Mrbeethoven

Shedman said:

Ford Money 1 year @ 1.55% and 2 year @1.65% still seem to be available.  Wife already a Ford Money account so she opened a 1 yr Fix....just got to decide where the money's going to come from but got 14 days to top it up.  

That's a good'un. I did think about using that but I already have an HL Active Savings account. Despite closing down a number of my savings and investment accounts over the last two years, to make things easier to manage when cognitive decline starts kicking in, I still feel I have too many so I don't want to be opening more.

quirkydeptless

I was loading up on fixed rate savings last year when the regular save rates were dropping.

My 2ish% rates are feeling huge now 

Shedman

Mrbeethoven said: 

..Despite closing down a number of my savings and investment accounts over the last two years, to make things easier to manage when cognitive decline starts kicking in, I still feel I have too many so I don't want to be opening more.

Likewise I've been trying to rationalise accounts and document everything properly to make it easier for my better half to deal with things should I a) catch CV and be out of action for a while (or worse  ) or b) go gaga.  Unfortunately I don't seem to be succeeding as we seem to be opening more than we're closing at the moment