The Top Fixed Interest Savings Discussion Area

bristolleedsfan

pedrodelgado said:

UTB 5 yr is 5.05 not 5.0 as it says on mse. Opened one yesterday will hold off funding it though, got the 5.05 locked in, have 14 days to fund or it gets closed.

Gatehouse Bank 5.10% - 5 year

t1redmonkey

5% on a Vanquis Fixed Rate Bond, monthly or annual interest: 2 Year Fixed Rate Bonds | High Interest Savings Bonds | Vanquis Bank Savings (vanquissavings.co.uk)

Patr100

t1redmonkey said:

5% on a Vanquis Fixed Rate Bond, monthly or annual interest: 2 Year Fixed Rate Bonds | High Interest Savings Bonds | Vanquis Bank Savings (vanquissavings.co.uk)

"One payment by bank transfer"? 
Conflicting information given:

 In accordance with General Condition 2.1, your deposit must be made in sterling by a single cheque or a single or series of electronic payments from your Nominated Account in the case of a sole Account, from the Nominated Account being a bank or building society account in your name or in the case of a joint account from the Nominated Account on which either of you are named.

rothers

Patr100 said:

t1redmonkey said:

5% on a Vanquis Fixed Rate Bond, monthly or annual interest: 2 Year Fixed Rate Bonds | High Interest Savings Bonds | Vanquis Bank Savings (vanquissavings.co.uk)

"One payment by bank transfer"? 
Only one payment allowed to fund? They do allow you to open more than one account but only allowing one single payment is a no no-no me.

Can I ask your reasoning for that please?

duckson

Why do we think there will be a drop in rates offered considering the BoE BR rise and rises to come?

t1redmonkey

duckson said:

Why do we think there will be a drop in rates offered considering the BoE BR rise and rises to come?

Because the BOE themselves came out yesterday and said they think the markets have got it wrong with regards to where interest rates will peak longer term, and were generally just sounding like they'd be reluctant to raise rates too aggressively going forwards.

Patr100

rothers said:

Patr100 said:

t1redmonkey said:

5% on a Vanquis Fixed Rate Bond, monthly or annual interest: 2 Year Fixed Rate Bonds | High Interest Savings Bonds | Vanquis Bank Savings (vanquissavings.co.uk)

"One payment by bank transfer"? 
Only one payment allowed to fund? They do allow you to open more than one account but only allowing one single payment is a no no-no me.

Can I ask your reasoning for that please?

1. I want to make an initial £1 payment to confirm and ensure payment details are correct and working and speed of transfer.

2. I then will have an amount (over my daily Faster Payments limit) in order to fund the account to the maximum of 85K FSC protection limit (allowing for interest)

3. I do not want to have to make further arrangements with my nominated account to transfer a larger single amount to a new payee , if that was required.
Most other savings banks allow you you to make as many FP payments as you can, within a certain time frame.

4, As I said, the information provided by the Bank is conflicting. That hardly produces  confidence.

Steve_xx

t1redmonkey said:

duckson said:

Why do we think there will be a drop in rates offered considering the BoE BR rise and rises to come?

Because the BOE themselves came out yesterday and said they think the markets have got it wrong with regards to where interest rates will peak longer term, and were generally just sounding like they'd be reluctant to raise rates too aggressively going forwards.

However,  lest we forget that the Bank of England invariably get it wrong

t1redmonkey

Steve_xx said:

t1redmonkey said:

duckson said:

Why do we think there will be a drop in rates offered considering the BoE BR rise and rises to come?

Because the BOE themselves came out yesterday and said they think the markets have got it wrong with regards to where interest rates will peak longer term, and were generally just sounding like they'd be reluctant to raise rates too aggressively going forwards.

However,  lest we forget that the Bank of England invariably get it wrong

Indeed, they may well get it wrong!  But at the same time, understandably a lot of banks will want to reassess what they are currently offering (or were planning to offer in the near future) on their longer term fixed rates as a result of what the BOE are saying.

duckson

t1redmonkey said:

duckson said:

Why do we think there will be a drop in rates offered considering the BoE BR rise and rises to come?

Because the BOE themselves came out yesterday and said they think the markets have got it wrong with regards to where interest rates will peak longer term, and were generally just sounding like they'd be reluctant to raise rates too aggressively going forwards.

Leaves a bit of a decision for me as I have some Premium bond money I want to get into a 1yr fixed saver and my 18yr old son could do with moving his into a longer term (3-5yr) fix as it’s first house money (he already has a S&S LISA with AJBell which is fully funded).