The Top Fixed Interest Savings Discussion Area

Krakkkers

Why is it called expected profit rate, i don't like the sound of "expected"

bristolleedsfan

Krakkkers said:

Why is it called expected profit rate, i don't like the sound of "expected"

https://www.alrayanbank.co.uk/guide-expected-profit


https://gatehousebank.com/faqs

What does expected profit mean?

The expected profit rate is the rate of profit we expect to deliver to you from the returns generated by investing the funds you deposit with us. The profit we share with you is the expected profit rate we offer at the time you open your account. We monitor your account on a daily basis to make sure the expected profit rate will be achieved. To date, we have always generated and paid our customers the expected profit rate. For more information

P933alilli

I wonder if savings rates will stay around 4-5% for a few months or will they now start falling? I have fixed rate bonds maturing in February and June next year, earning a measly 1% and 1.5% interest respectively! I'll be gutted if rates drop like a stone and i miss the window of higher ones!

Patr100

Only slightly off topic but Virgin Money now have an ISA 2 year fix at 4.36% which could be useful if you are avoiding  tax on savings so the effective rate will be higher compared to taxable rates.

soulsaver

Patr100 said:

Only slightly off topic but Virgin Money now have an ISA 2 year fix at 4.36% which could be useful if you are avoiding  tax on savings so the effective rate will be higher compared to taxable rates.

4.36% is comparable to 5.45% less tax @BR. a whopping 7.27% at higher

alternate

Collyflower1 said:

I wonder if savings rates will stay around 4-5% for a few months or will they now start falling? I have fixed rate bonds maturing in February and June next year, earning a measly 1% and 1.5% interest respectively! I'll be gutted if rates drop like a stone and i miss the window of higher ones!

Since you can't do anything until February, I wouldn't bother worrying about it.

happybagger

SBI UK have had a 2 year fixed rate ISA available at 4.65% (their 3 and 5 year fixes are also 4.65%) for about a week now, it does show up in the Moneyfacts list but not the likes of Savingschampion. Anyone any thoughts why? They are covered under FSCS and I've had fixed rate accounts in the past.

My parents have been asking me to look around at short term FR ISAs

Band7

looks like an oversight by MSE.

bristolleedsfan

happybagger said:

SBI UK have had a 2 year fixed rate ISA available at 4.65% (their 3 and 5 year fixes are also 4.65%) for about a week now, it does show up in the Moneyfacts list but not the likes of Savingschampion. Anyone any thoughts why? They are covered under FSCS and I've had fixed rate accounts in the past.

My parents have been asking me to look around at short term FR ISAs

They state can only apply at a Branch, no postal applications, even existing customers are not able to apply online 

t1redmonkey

happybagger said:

SBI UK have had a 2 year fixed rate ISA available at 4.65% (their 3 and 5 year fixes are also 4.65%) for about a week now, it does show up in the Moneyfacts list but not the likes of Savingschampion. Anyone any thoughts why? They are covered under FSCS and I've had fixed rate accounts in the past.

My parents have been asking me to look around at short term FR ISAs

Yes as @bristolleedsfan says, you have to go to a branch to open it (and they don't have loads of branches).  Obviously if you do happen to live near one then it can be worth going with them but it won't be an option for lots of people.