Aldermore new fixed rate accounts. Sept 2020

soulsaver

https://www.aldermore.co.uk/personal/personal-savings-accounts/fixed-rate-accounts/?utm_medium=email&utm_campaign=SR031+-+Personal+savings+-+Fixed+rate+re-launch&utm_source=CCRS

Term	Gross Annual Interest	Gross Monthly Interest	AER*
1 Year	1.00%	1.00%	1.00%
2 Year	1.25%	1.24%	1.25%
3 Year	1.30%	1.29%	1.30%
4 Year	1.32%	1.31%	1.32%
5 Year	1.35%	1.34%	1.35%

ISAs

1 Year	0.80%	0.80%	0.80%
2 Year	0.85%	0.85%	0.85%
3 Year	1.00%	1.00%	1.00%

eta: spacing (which is correct.. until saved..?? )

Albermarle

ISAs

1 Year	0.80%
2 Year	0.85%

In April the two year ISA paid 1.45 % 

wiseonesomeofthetime

Sad times and desperate measures if clawing at those rates.

Appreciate they are fixed, and that BoE have not ruled out negative interest rate in the future which would damage savings rates further, however, I for one would not be rushing to Aldermore with my deposits any time soon.

Speculator

rates have gone up since you posted.
Gone for the 3 year fix at 1.40%.
I am a new customer so can't check online yet to see if my deposit has reached my account.
Does anyone know if Aldermore will send a text to confirm receipt of deposit, similar to RCI bank?

Albermarle

If I remember correctly , they do not send a text but you get a quick confirmation by e mail . Pretty efficient bank/process in my experience.

wiseonesomeofthetime

I received an email from Aldermore last year confirming my opening deposit.

Matures next month. A, now lofty, 1.65% 1 year fix. 

And that was only opened for £15.75 cashback from TCB

Speculator

Wasn't going to open another fixed rate bond after piling into the 1.90% RCI 5 yr bd earlier this year. However, the NS&I & TSB rate cuts changed all that. 

wiseonesomeofthetime

That 5 year fix looks a really good choice at the moment!

bowlhead99

wiseonesomeofthetime said:

That 5 year fix looks a really good choice at the moment!

As it only pays between a sixth and a seventh more than the rate for a one year deal, it may be disappointing to have locked into it if market interest rates rise in a couple of years time.

Granted, government 5-year gilt yields are at under zero at the moment but five years feels like a long time to lock into 'all time low' interest rates.  If I was in the market for a fix product I probably wouldn't want as long as five years of it.

Bravepants

Yeah, I'm probably going to buy more Added Pension, or stick some cash in  Investment Trusts for the dividends!

Biggus_Dickus

Just for info:

I think? I’ve opened a  “1 Year Fixed Rate Account” at 1.26%

However, as soon as I’d finished the application, which takes just minutes, the website had changed and the rate is now 1.20%

The email confirming the application says this:

“We guarantee to pay the interest rate you’ve seen today provided a deposit is paid into the account within 14 calendar days of the account being opened.”

“You can see your new account details, including the interest rate, balance and maturity date (if applicable) by logging into Internet Banking using the ‘Personal Savings Account Log in’ at www.aldermore.co.uk/login-centre.”

However, there is no mention of the interest rate on their emails and I can’t login to see the interest rate until I receive my customer ID, which can take up to a week. I cannot fund this account until I’m sure of the interest rate.

50mins and counting on the phone waiting to speak to their help-desk. Sent an email as well.

Not the start I was hoping for...Ho-hum!