FirstSave - any experiences

chrisgeller

Looking at the savings table, and Firstsave seems to be at the top - 1.15% for a 2 year fixed bond.
Not great, but nothing much better out there.
I see they are part of the Bank of Nigeria. But are covered by the full FSCS.
Any experience with them?

colsten

I have a 1 year bond with them, maturing next March. As they are FSCS covered, I have no concerns.

You can get a bit more than 1.15% at BLME and Al Rayan, and 1.1% at Ford Money https://moneyfacts.co.uk/savings-accounts/2-year-fixed-rate-bonds/

veryintrigued

Been with them since 2014. All good.

Ifts

I have used FirstSave for fixed rate bonds several times over the years - All was good.
They are part of the Bank of Nigeria but like you say are covered by the FSCS.

DairyQueen

I have also used First Save for fixed rate bonds intermittently since 2012. No problems other than they remove the online account if you withdraw all funds on maturity. Their loyalty rollover rates are often good.

Their offers usually don't remain open for long. I have just applied for the two-year bond to park some of the funds recently removed from NS&I. 

colsten

My Firstsave matured today. I was invited to select my maturity option online a while ago. The rollover options weren't particularly exciting but as the money is earmarked for my 2021-22 ISA and SIPP anyway, I had requested a transfer to my Santander current account. The balance arrived, complete with interest, just before close of business today. I can't fault Firstsave.

wiseonesomeofthetime

Good to hear as mine matures on Friday 

veryintrigued

I've had two mature in the last week and the same sort of experience.

One matured on Sunday and the funds were in my CA on Monday PM but on Sunday I could see the interest which was paid on the First Save site.

The one which matured mid week (last week) I had no opportunity to see the interest - it got closed and then the funds arrived early afternoon the same day

The seven year 3.5% was a sad goodbye.

wiseonesomeofthetime

@veryintrigued - When your bonds matured, did the accounts disappear on the day of maturity?

Logged in this morning to see how much interest I had achieved and I have no accounts listed!

Not concerned yet, to be honest, as I have had some maturing regular savers at other providers act in a similar way on day of maturity.

veryintrigued

wiseonesomeofthetime said:

@veryintrigued - When your bonds matured, did the accounts disappear on the day of maturity?

Logged in this morning to see how much interest I had achieved and I have no accounts listed!

Not concerned yet, to be honest, as I have had some maturing regular savers at other providers act in a similar way on day of maturity.

The one which matured mid week disappeared on maturity day.

The one which which matured at the weekend disappeared on the first working day after maturity. Hence why I was able to view the interest in this one.

First Save do send a closing statement by post too.

colsten

veryintrigued said:

First Save do send a closing statement by post too.

Yes, a few days after account closure, you get half a tree of paper.