The Top Fixed Interest Savings Discussion Area

Millyonare

kidwell25 said:

Millyonare said:

Band7 said:

kidwell25 said:

I'm looking at 5 year fixes, and am happy to receive all the interest at the end of the fix. It looks like Close Bros (5.05%) require interest to be "paid away" each year. Am I right in thinking I'd therefore be getting a better rate with Secure Trust Bank at 5% which allows for compounding? 

It would depend on how much interest you can get on the paid-away interest but you'd probably be better off if you can compound it at 5%, and it's simpler to manage if it all stays in one account

Don't forget tax (if applicable).

The amount of tax you pay (or will pay) will determine ultimately the best account.

Thanks for the advice. Outside of ISAs (which I max out every year) I've around £120k in various savings accounts so will generate well above the £500 threshold per annum in either scenario I think so I'm not sure that's a consideration (unless I'm missing something obvious?)

You'll need to map the interest-rate and tax % scenarios in an Excel spreadsheet from 2022 to 2027, to find the most tax-efficient route. You may (or may not) find that spreading the payments over 5 single years ultimately pays less tax in totality than dumping it all in one go at the end of the 5-year term.

wiseonesomeofthetime

Moneyfacts website seems to be listing a 'best buy' that is no longer available.



Follow the link, to HL, and it shows Aldermore as its best offering over 18 months, at the lower 4.55%



Just for info really.

andyhicks88

It's listing several that aren't available and has been for days. Not sure what's going on with them at the moment, they don't seem to be doing a very good job of keeping track.

sham63

I think this 18 month 4.75% is still available….

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

trickydicky14

sham63 said:

I think this 18 month 4.75% is still available….

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

I opened one teatime yesterday and you have 14 days to fund account.

wiseonesomeofthetime

Secure Trust Bank have withdrawn their Fixed Rate Bonds and Notice Accounts this morning  🤔

happybagger

janusdesign said:

Charter showing the wrong rate when logging in to the site is not unusual (and has been discussed previously in the thread) - I wouldn't worry about it (it happened with me months ago)... they usually fix it within a day or two (and backdate the interest to the correct rate).

I've got an deposit showing but can't find an interest rate showing anywhere. Where does it show please? I've been across all the tabs. Like others, not keen on further deposits until I see the rate.
Cheers.

wiseonesomeofthetime

sham63 said:

I think this 18 month 4.75% is still available….

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

Opened and funded. Thanks

ashteadgirl

happybagger said:

janusdesign said:

Charter showing the wrong rate when logging in to the site is not unusual (and has been discussed previously in the thread) - I wouldn't worry about it (it happened with me months ago)... they usually fix it within a day or two (and backdate the interest to the correct rate).

I've got an deposit showing but can't find an interest rate showing anywhere. Where does it show please? I've been across all the tabs. Like others, not keen on further deposits until I see the rate.
Cheers.

Same here. I have sent first deposit but holding off sending anymore until i get a reply to the secure message i sent them asking for confirmation of interest rate and that all other accounts with them have this information .

Devonjem

Regarding Charter, my 4.95% 2 year fix was showing 4.60%.  Spoke to them this morning - they said it was a mistake and they would change it to the proper rate and backdate the interest.