The Top Fixed Interest Savings Discussion Area

alternate

Ted_E_Bear said:

Assuming the BofE raises base rate by 0.5% in December, it's demoralising to think I'm locking away for 2 years at less than 1.5% above base rate, and that fixed rates are already being cut. Last week, the market expectation was that UK base rate would go to 5%, and based on that, I was hoping for at least 7% fixed rates next year, but that seems impossible now.

I am, not sure 7% was ever realistic.  There will be a cap on how high fixes (especially 1 year) can go.  As others have pointed out - the rates are more about swap rates than the base rate.

I am sure many on here can remember way further back but I remember before the 2008 credit crunch when the base rate was over 5% - 1 year fixes did not pay much higher.  You could maybe get nearer 7% for 5 yr+ (even 7yr fixes were fairly popular back then).  And that was with the expectation that rates would be stable for years in to the future.

DaveyCee

alternate said:

DaveyCee said:

Could somebody quickly clarify something for me please......?

When a fixed account application refers to your 'Initial deposit', does that mean I need to deposit the minimum amount required during the application process or within the 14 days deposit window after opening the fixed account?

Thanks
D

Usually you don't need to deposit anything during application.  Sometimes they don't fully open the account if you don't pay anything in (or meet any minimum deposit) within the window.

Usually if an account says "initial deposit: it means you can make additional deposits during the window.  A rare few still require one deposit only.

Sorry, one other question......

Does the account become active from the date you apply or after the 14 day deposit window? I'm just wondering - if I signed up today would I get paid on the 11th of each month or the 25th. End of the month feels a bit easier to keep a track of things with a monthly interest payout.

Thanks
D

barryd999

All the 4.5% 1yr fixed seem to have gone, all the links on moneysaving expert 1yr savings have either expired, full or only open to existing customers.

You snooze you lose I guess.  In the end I just opened up a 1yr fixed with Investec at 4.37 as I already have an account with them.

refluxer

Looks like Charter have withdrawn their 4.95% 2 year bond

DaveyCee

refluxer said:

Looks like Charter have withdrawn their 4.95% 2 year bond

Literally just gone in the last 30 mins as I looked at it recently.

janusdesign

refluxer said:

Looks like Charter have withdrawn their 4.95% 2 year bond

perhaps it's only withdrawn to new customers? I can login and open a 2-yr fix @ 2.95% if I wanted to.

Krakkkers

Never saw any product on Charter website at that rate and been looking most days, fixed at 4.7 for 2 years a few days ago, where were you looking?

janusdesign

I can see it when logging in and choosing to open another account - if I choose fixed rate bonds, I see this...

and the 3 links work and go to application forms.

Krakkkers

Is that chartersavingsbank?

refluxer

Krakkkers said:

Never saw any product on Charter website at that rate and been looking most days, fixed at 4.7 for 2 years a few days ago, where were you looking?

The 4.95% / 2 year Charter fixed rate account has only been available for the last day or so - it was there when I checked this morning. It's actually still listed as the second-highest paying 2 year account on the Savings Champion site (as well as on MSE) although it will presumably disappear fairly soon.

[Edit - was listed !]