The Top Fixed Interest Savings Discussion Area

refluxer

Bogof_OAP said:

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.  

While it's looking likely that there will be a rate rise, it's harder to say what effect this will have on savings rates - especially for longer fixes like 5 years. The general trend has definitely been upwards this year but fixed rates will have to top-out at some stage. FWIW - 5 year fixed rates hit 5% earlier this month IIRC, so have only been available for a matter of weeks (not months).

Band7

Bogof_OAP said:

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.  

Don't expect instant reaction from savings providers - they might take a week or two before they react, if they react.

alternate

They will react instantly ... to put mortgage rates up

Bogof_OAP

NatWest must read these boards - just had a text message saying they are increasing the interest rate to a whopping 1%.  Not sure that's going to sway me to stay.

alternate

I highly doubt Natwest employees have internet access.  They only just upgraded to those new fangled facsimile machines.

alternate

Oxbury Bank

Personal 1 Year Bond Account 4.65% Fixed Rate - Issue 18

Fixed Rate

4.65% AER

Deposit Amounts

Min: £1,000 – Max: £500,000

14 day funding window

M4rtyman

Quick question about the Fixed accounts (1yr/2yr etc) that give you the option of Monthly/Annual interest payments ...

Normally, I've just dumped my cash into 1yr accounts and withdrawn the balance and profit at maturity, a year later. When some fixed accounts show 'Monthly' interest option (RCI just now), is that paid into a linked account so you can access THAT straight away? If not, and it is just paid into the fixed account, which you can't access, then what is the point of Monthly over Annual/Maturity?

dcs34

M4rtyman said:

Quick question about the Fixed accounts (1yr/2yr etc) that give you the option of Monthly/Annual interest payments ...

Normally, I've just dumped my cash into 1yr accounts and withdrawn the balance and profit at maturity, a year later. When some fixed accounts show 'Monthly' interest option (RCI just now), is that paid into a linked account so you can access THAT straight away? If not, and it is just paid into the fixed account, which you can't access, then what is the point of Monthly over Annual/Maturity?

Tax / personal allowance benefits - smoothing out interest over two tax years rather than a single amount in the second year?

M4rtyman

But if you can't access it in a certain tax year - have you actually earned it?

wmb194

M4rtyman said:

But if you can't access it in a certain tax year - have you actually earned it?

If you were given the option to have it paid away, yes.