The Top Fixed Interest Savings Discussion Area

jak22

Although sometimes banks raise the rate to match their new better rate if it goes up in the first 1 or 2 weeks they can't reduce it. But there's no issue numbers with their fixes so it's tricky. Only the Key Features doc mentions an interest rate - which it has to along with an estimated balance calculation.

The Key Features doc says "Can Charter Savings Bank change the interest rate?

No. The interest rate is fixed for 2 years from the date your initial deposit is credited to your Fixed Rate Bond (the fixed rate period)."

While still unfunded the account doesnt show an interest rate (whether its 4.6% or 4.95%) so even if it's locked-in when you fund it and not when opened you woudn't know it had dropped (which it shouldnt have done anyway). 

Millyonare

Keeping our powder dry for new savings accounts until the outcome of the pernicious upcoming budget on Thurs.

alternate

Millyonare said:

Keeping our powder dry for new savings accounts until the outcome of the pernicious upcoming budget on Thurs.

If it the widely advertised 50 billion in cuts and taxes then it is more likely to send rates down rather than up.  You could always open a backup account with a decent deposit window and decide on funding it after the budget.

Millyonare

alternate said:

Millyonare said:

Keeping our powder dry for new savings accounts until the outcome of the pernicious upcoming budget on Thurs.

If it the widely advertised 50 billion in cuts and taxes then it is more likely to send rates down rather than up.  You could always open a backup account with a decent deposit window and decide on funding it after the budget.

Yup, agreed, doing exactly that. Got ~10 savers ready to roll.

SCC2

Applied and funded Charter 4.95% as a new customer before it was withdrawn, my rate showing 4.6% as well. Hopefully a mistake.
Steve 

Ted_E_Bear

SCC2 said:

Applied and funded Charter 4.95% as a new customer before it was withdrawn, my rate showing 4.6% as well. Hopefully a mistake.
Steve 

Same here. Am somewhat concerned. Will get on to them in the morning.

sham63

DF Capital 4.75% 18 month fixed…..

https://www.dfcapital.co.uk/savings/fixed-rate-deposit/

SAC2334

My 6 month fixed Shawbrook Bank matures this week. They have options of a 9 month fixed at 4.0 % on maturity interest  or 3.93  % monthly interest. 

These 9 monthly rates  are not shown for new customers . With rates dropping slightly I m tempted with the 9 month fixed monthly interest at 3.93 % . Their 6 month is only 2.65 %

1 year  fixed are 4.35 % (4.27 % monthly interest ) 
Any advice on these rates ?

Patr100

Ok, re: Charter  year 4.95% - 2 year
I've just come off the phone to them.
Apparently due to a "system error"  the 4.60 showing was an old rate before it went to 4.95.
They are going to correct it for my account and backdate any lost interest.
I checked with them and they said the 4.95%  2 year is still available , but only to existing customers, hence why you can still apply for it when you  log in and go to offered products.
The correct rate isn't currently showing when I last logged but will look later before I do more top ups this week.

(also checked - will have to wait for something in the post to validate my nominated account online)

Patr100

SAC2334 said:

My 6 month fixed Shawbrook Bank matures this week. They have options of a 9 month fixed at 4.0 % on maturity interest  or 3.93  % monthly interest. 

These 9 monthly rates  are not shown for new customers . With rates dropping slightly I m tempted with the 9 month fixed monthly interest at 3.93 % . Their 6 month is only 2.65 %

1 year  fixed are 4.35 % (4.27 % monthly interest ) 
Any advice on these rates ?

You can get slightly better 1 year rates from Ikano 4.50 or Ford 4.45 but if your amount isn't high then the actual difference  in cash may not be that significant for you. I doubt we will see any new 1 year rates til after the Budget statement and they may be revised down not up.