Before I commit, is there a better rate available than 1.26% for a one year fixed savings account?

Zanderman

chris112 said:

chamelion said:

Consider blending for higher return (and risk)?
e.g. look at nexo (8% GBP) / crypto.com (12% TGBP on 3 month terms). 

I just done a bit of googling on Nexo And they're offering 10% GB interest, I have no experience of crypto currency but the old adage, if something looks too good to be true…
Does anyone have experience with this Crypto investment?

Don't even think about it!

RYD

colsten said:

RYD said:

Is Raisin safe? My bank is nervous of Faster Payment to them.

Yes they are safe to £85K.

What is "your bank" nervous about? 

They hadn't heard of Raisin

eskbanker

RYD said:

colsten said:

RYD said:

Is Raisin safe? My bank is nervous of Faster Payment to them.

Yes they are safe to £85K.

What is "your bank" nervous about? 

They hadn't heard of Raisin

What does that actually mean though - do you mean that you spoke to an employee who was unaware of the existence of a company of that name, or that a Confirmation of Payee check failed when you tried to set up an online payment (potentially using the wrong account name)?

EP456

Tandem offering 1.4%

*Annual Equivalent Rate or AER is a figure which shows what the interest rate on an account would be if interest was paid for a full year and compounded. Gross is the interest rate before tax is deducted. ** To be eligible for the 1.4% AER/Gross you must meet the following criteria; onboard to the Tandem app within 48 hours of receiving your beta download invite email and commit a sum of £5,000 minimum for one year to your 1 Year Fixed Saver account. Your interest will be paid out after 12 months. You will not be able to access your money until a period of 12 months has passed.

Tandem Bank Limited is a company registered in England and Wales (company registration number 00955491) with its registered office address at 40 Bernard Street, London, WC1N 1LE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204479. © 2020 Tandem Bank

chris112

EP456 said:

Tandem offering 1.4%

*Annual Equivalent Rate or AER is a figure which shows what the interest rate on an account would be if interest was paid for a full year and compounded. Gross is the interest rate before tax is deducted. ** To be eligible for the 1.4% AER/Gross you must meet the following criteria; onboard to the Tandem app within 48 hours of receiving your beta download invite email and commit a sum of £5,000 minimum for one year to your 1 Year Fixed Saver account. Your interest will be paid out after 12 months. You will not be able to access your money until a period of 12 months has passed.

Tandem Bank Limited is a company registered in England and Wales (company registration number 00955491) with its registered office address at 40 Bernard Street, London, WC1N 1LE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204479. © 2020 Tandem Bank

When did you get this 1.4% rate? according to their website the one year fixed saver is only paying 0.6%!
https://www.tandem.co.uk/fixed-saver

Zanderman

chris112 said:

EP456 said:

Tandem offering 1.4%

*Annual Equivalent Rate or AER is a figure which shows what the interest rate on an account would be if interest was paid for a full year and compounded. Gross is the interest rate before tax is deducted. ** To be eligible for the 1.4% AER/Gross you must meet the following criteria; onboard to the Tandem app within 48 hours of receiving your beta download invite email and commit a sum of £5,000 minimum for one year to your 1 Year Fixed Saver account. Your interest will be paid out after 12 months. You will not be able to access your money until a period of 12 months has passed.

Tandem Bank Limited is a company registered in England and Wales (company registration number 00955491) with its registered office address at 40 Bernard Street, London, WC1N 1LE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204479. © 2020 Tandem Bank

When did you get this 1.4% rate? according to their website the one year fixed saver is only paying 0.6%!
https://www.tandem.co.uk/fixed-saver

Read this thread - but don't get your hopes up:  https://forums.moneysavingexpert.com/discussion/6196854/tandem-3-fixed-rate-saver#latest

EP456

chris112 said:

EP456 said:

Tandem offering 1.4%

*Annual Equivalent Rate or AER is a figure which shows what the interest rate on an account would be if interest was paid for a full year and compounded. Gross is the interest rate before tax is deducted. ** To be eligible for the 1.4% AER/Gross you must meet the following criteria; onboard to the Tandem app within 48 hours of receiving your beta download invite email and commit a sum of £5,000 minimum for one year to your 1 Year Fixed Saver account. Your interest will be paid out after 12 months. You will not be able to access your money until a period of 12 months has passed.

Tandem Bank Limited is a company registered in England and Wales (company registration number 00955491) with its registered office address at 40 Bernard Street, London, WC1N 1LE. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204479. © 2020 Tandem Bank

When did you get this 1.4% rate? according to their website the one year fixed saver is only paying 0.6%!
https://www.tandem.co.uk/fixed-saver

I got the above email on Friday 03 October.  I initially applied via a link on MSE on 23 September,

sweetsand

I poste a thread today re Charter bank and someone stated rates dropped or offer was withdrawn. I think banks, saving orgs are fast dropping rates and with the NS&! crashing their rates for Nov, there may be hundreds of millions coming out of that.

Sailtheworld

sweetsand said:

I poste a thread today re Charter bank and someone stated rates dropped or offer was withdrawn. I think banks, saving orgs are fast dropping rates and with the NS&! crashing their rates for Nov, there may be hundreds of millions coming out of that.

There are ever diminishing returns for changing savings provider. Unless savers suddenly increase their appetite for risk or get into the spending habit it's more likely that the money will stay where it is.

chris112

I've just come across investec who are offering 1.8% in a one year fixed bond, looking on the forum they seem to be a reputable bank, so I wonder why no one is raving about this interest rate?

I was close to opening a one year 1.4% saver with Tandem bank but now I am reconsidering

Investec is required by the Financial Conduct Authority (FCA), the independent financial services regulator, to provide you with this important information to help you 

The aims of our 1 Year Fixed Rate Bond

To provide:

• A guaranteed level of growth if you leave your policy invested for one year.

• 1,8% Yield. Quarterly interest payments or compounded.

• Guarantee on Initial Investment being returned upon maturity.

Your investment in the plan

• You agree to pay a minimum lump sum investment of £10,000 / €10,000.

• Contributions can be made to the 1 Year Fixed Rate Bond after the initial Investment.

• You cannot withdraw your money during the one-year fixed period unless due to exceptional

circumstances, including diagnosis of a terminal illness, bankruptcy, solvency and sequestration.

Risks associated with the plan

• If you die during the term of your plan then your estate will receive a guaranteed lump sum.

• No early withdrawals from the plan are allowed, except in exceptional cases. Please see

section 4 of the Terms and Conditions for details.Issue Deadline• The Issue for this Bond will be closed once units are no longer available for subscription. All applications must be returned to us no later than two working days after your verbal acceptance on the compliance call