The Top Fixed Interest Savings Discussion Area

DaveyCee

My money is tucked away elsewhere and doesn't drop-in until the 18th. I was trying to remain patient, but sadly it looks like I've missed out on the better odds. I thought I might just make it.

Plenty of 1yr fixes being scrapped even though they are still advertised on MF & MSE.

Vanquis/Ikano/Charter have all gone.

I'm thinking of applying for a 1yr (4.4) or (4.35) tomorrow and holding onto it for 14 days until I can deposit into it. I can't see it getting any better from here on and I don't want to lose the best of the rest.

(I'm looking for 1yr monthly pay-out)

Anybody with a crystal ball persuade me otherwise?

Patr100

I was hoping for 5% for the jump to a fix but that looks unlikely.
However the current rates give me more of a decent extra income for me because  I am fortunate to have more than one large pot to split up  - I really can't complain or be greedy.
Look at it this way if you fix for a year.
If rates have dropped by the time you renew you've done well.
If they have increased by that time you probably renew at a higher rate.
If they stay roughly the same, you haven't lost out much.
Also if inflation is lower in a years time (as expected), whatever you have is not eroded so much so lower rates work a bit harder.

Patr100

Bobblehat said:

Patr100 said:

Rheumatoid said:

As Rheumatoid said ...... 4.84% for monthly paid away.

Ultra-quick to open as an existing customer. I needed the monthly interest as income too

Anyone got their account user ID to log in yet?

 "How to access your account To access your account you'll need a User ID, which we’ll email to you. Once you’re logged in, you’ll be able to view your welcome documents in the secure messages of your online account which will include the General Savings Conditions along with a copy of the FSCS information leaflet."

 I haven't - only got the confirmation with the sortcode etc

DaveyCee

Patr100 said:

I was hoping for 5% for the jump to a fix but that looks unlikely.
However the current rates give me more of a decent extra income for me because  I am fortunate to have more than one large pot to split up  - I really can't complain or be greedy.
Look at it this way if you fix for a year.
If rates have dropped by the time you renew you've done well.
If they have increased by that time you probably renew at a higher rate.
If they stay roughly the same, you haven't lost out much.
Also if inflation is lower in a years time (as expected), whatever you have is not eroded so much so lower rates work a bit harder.

I was wondering if the Autumn statement on the 17th might influence anything more..... Probably not worth the risk holding on.

Bobblehat

Patr100 said:

Bobblehat said:

Patr100 said:

Rheumatoid said:

As Rheumatoid said ...... 4.84% for monthly paid away.

Ultra-quick to open as an existing customer. I needed the monthly interest as income too

Anyone got their account user ID to log in yet?

 "How to access your account To access your account you'll need a User ID, which we’ll email to you. Once you’re logged in, you’ll be able to view your welcome documents in the secure messages of your online account which will include the General Savings Conditions along with a copy of the FSCS information leaflet."

 I haven't - only got the confirmation with the sortcode etc

I'm an existing customer so the new account showed up after logging out and back in again.

happybagger

Patr100 said:

I was hoping for 5% for the jump to a fix but that looks unlikely.

I still think retail rates have a bit to go up yet. Not much, but definitely up.
UK inflation numbers are due next Wednesday. They're unlikely to show a surprise like the US, given our fuel and energy increases over the last 12 months.

Bobblehat

One thing to note about Charter Fixed rate(s) .... looking on the website I only see the 2 year fix. If I log in, and view "Open new account" ... I see this .....



Seems existing customers have more choice?

jak22

Timing of fixes is always quite tricky but on the other hand it's not a competition to get the perfect highest interest rate. Everyone's situation is different and for many it's just a way of fixing an amount of monthly income they're happy with - 5% for 2 or 3 years isnt near inflation but it might be comparable to dividend income for example.

Some will have been putting amounts into 1yr fixes as rates rise and may have done better than variables that way - current easy access rates arent that great at less that BoE base rate - and some might be wondering if fixes might not go much higher right now.

Millyonare

With China starting to talk about deflation, and US inflation now on a sharp downward slope, it's surely only a matter of time before the same downtrends arrive in the UK and EU. We live in a globalised world.

Dyor, etc.

rothers

Bobblehat said:

One thing to note about Charter Fixed rate(s) .... looking on the website I only see the 2 year fix. If I log in, and view "Open new account" ... I see this .....



Seems existing customers have more choice?

When I go on the website it says that no more deposits can be made after the initial deposit, does that mean that I can’t put £1 in then the rest?