The Top Fixed Interest Savings Discussion Area

wiseonesomeofthetime

Patr100 said:

First Save at 4.50% - 1 year 
min £5000
annual or monthly interest 

£1000 for annual interest 
£5000 for monthly 

Ted_E_Bear

Patr100 said:

janusdesign said:

turns out it was October this happened for me with Charter, thought it was longer than that!

https://forums.moneysavingexpert.com/discussion/comment/79540374/#Comment_79540374

It's now corrected on my online account - just topped it up again.

My account hasn't been changed, so it looks like it's being done only for those who complain, and not as a system wide fix.

Devonjem

I have sent messages complaining about it and have yet to have my rate changed.  Maybe they are doing it manually or in batches.

refluxer

Looks like Ford Money have pulled their 1 year Fixed Saver @ 4.45% and both Secure Trust and Close Brothers have done the same with theirs (were 4.40%)

Update (15/11/22) - the Ford Money 1 Year Fixed Saver @ 4.45% is still available to existing customers. 

andyhicks88

Has anyone had any experience with First Save? Not heard of them before.

refluxer

andyhicks88 said:

Has anyone had any experience with First Save? Not heard of them before.

Looks like they're linked to FBN Bank UK Ltd, which itself is a subsidiary of FirstBank of Nigeria.

Must admit I thought that First Save's website looked like something from the late 1990s and then I noticed it says "It is recommended that you apply and access the FirstSave website via Internet Explorer and / or on a Windows based PC when possible." 

Patr100

refluxer said:

andyhicks88 said:

Has anyone had any experience with First Save? Not heard of them before.

Looks like they're linked to FBN Bank UK Ltd, which itself is a subsidiary of FirstBank of Nigeria.

Must admit I thought that First Save's website looked like something from the late 1990s and then I noticed it says "It is recommended that you apply and access the FirstSave website via Internet Explorer and / or on a Windows based PC when possible." 

Do they pay 1990s interest rates?

refluxer

If interest rates are likely to continue rising in the short term (even if not at the rate previously anticipated), why are the shorter (1 year) fixed rates decreasing, yet the longer (3-5 year) fixes are not ?

Is this a natural trend or is it instead being caused artificially by savers panicking and grabbing the best short-term deals now ?

Celtic_Supersaver

The banks want your money as cheaply as they can get it.  Maybe there is a bit of cage rattling going on?  I will wait and see for the last 20% of my cash.  Luckily I did get JN at 4.75% for a 1 yr fix.  Charter Bank were so slow processing my application that their rates had been superseded and I invested elsewhere.

jimexbox

refluxer said:

If interest rates are likely to continue rising in the short term (even if not at the rate previously anticipated), why are the shorter (1 year) fixed rates decreasing, yet the longer (3-5 year) fixes are not ?

Is this a natural trend or is it instead being caused artificially by savers panicking and grabbing the best short-term deals now ?

I can see a 0.25 base points rise in December, then a pause on rate rises for a few months as recession bites.

Then a far slower rise in base rates in 2023 compared to this year. Hence the attractive one year fixes being pulled.