The Top Fixed Interest Savings Discussion Area

cricidmuslibale

happybagger said:

Sent off requests for withdrawals from Regular Saver accounts to dump in Santander 2.75% whilst looking to open some 2 and 3 year fixes this weekend, as the funding window for them will cover the BoE rate decision and market response to it. If FR rates rise then it's still possible to back out.

To me, this sounds like a very good strategy for the time being. I don’t know whether others would agree with me on this or not but I’m a little bit wary of 1 year fixed rate accounts at present, because I suspect that in a year’s time the interest rates available on new short term fixes (and maturity accounts generally) will be considerably lower than those available at the moment. I see current 2 and 3 year fixed rate accounts as offering notably better medium term value for money, both in terms of the interest rates being offered on them and also in terms of possible replacement accounts in 2 to 3 years time.

Patr100

Feels like generally there is roughly a 2% difference between best deal "easy access" and 1 year fixed 
(currently 2.75% / 4.60%) - but one needs to be quick specially  for some slightly higher 1 year deals  (were nearer 4.75 at one point but withdrawn.) .
Always a question of whether savings banks (approx 0.50% * higher than BoE base rate),  factor increases before of after BoE rates .
* or whatever the appropriate basis  points term is (50bp), you know what I mean.

alternate

Depends on if you think inflation will be under control in 12 months.  BoE can tinker with the interest rate and stop printing money but other things like Russia and the energy market are out of their control.

Patr100

t1redmonkey said:

t1redmonkey said:

5% on a 2 year if you go via Hargreaves active savings: https://www.hl.co.uk/investment-services/active-savings/latest-rates-and-products

The BLME fixed term accounts are updated with the new rates on their own website now, some of the other ones are pretty good as well.  E.g. The 1 year is 4.6%, and the 18 month one is 4.85%, 2 year as mentioned above is also good at 5%. https://www.blme.com/products-and-services/savings/premier-deposit-account/

• All applications must be made online. You will not be able to view your account online. 

  
  

No thanks.

Bogof_OAP

Not sure if this is the right place to ask, but any suggestions for up to £50K fixed rate bond, don't mind tying up for five years, would prefer monthly interest, and must be safe (as possible given the unknowns and unforeseeables)?  Preferably a "high street" name, or including well established online only.  

Currently getting something like 0.5% in NatWest easy access, after many years of even less than that.  Been lazy about doing anything about it but it's getting ridiculous now.

TomDolan

Bogof_OAP said:

Not sure if this is the right place to ask, but any suggestions for up to £50K fixed rate bond, don't mind tying up for five years, would prefer monthly interest, and must be safe (as possible given the unknowns and unforeseeables)?  Preferably a "high street" name, or including well established online only.  

Currently getting something like 0.5% in NatWest easy access, after many years of even less than that.  Been lazy about doing anything about it but it's getting ridiculous now.

check here: https://moneyfacts.co.uk/savings-accounts/fixed-rate-bonds/?quick-links-first=false

refluxer

@Bogof_OAP Just bear in mind that there is a BoE meeting on Thursday (3rd Nov) where another rate rise is expected and if that happens, then it could have an effect on savings rates too.

Bigwheels1111

Bogof_OAP said:

Not sure if this is the right place to ask, but any suggestions for up to £50K fixed rate bond, don't mind tying up for five years, would prefer monthly interest, and must be safe (as possible given the unknowns and unforeseeables)?  Preferably a "high street" name, or including well established online only.  

Currently getting something like 0.5% in NatWest easy access, after many years of even less than that.  Been lazy about doing anything about it but it's getting ridiculous now.

As of today i would go with Gatehouse Bank.4.98% Gross p.a. - Monthly Profit £207.50 ish a month on 50k.

I have money in Gatehouse and they have been fine.

Profit paid on the first of every month like clockwork.

Bogof_OAP

Ooh thanks everyone, that's really useful stuff.  I will bear in mind the BoE meeting on 3rd and not rush into anything before that.  

I haven't heard of Gatehouse but that looks exceptionally good for current times.  Do they share a banking licence with anyone else?

refluxer

Bogof_OAP said:

I haven't heard of Gatehouse but that looks exceptionally good for current times.  Do they share a banking licence with anyone else?

Doesn't look like it. See the 'Which banks are linked?' checker on this page.