The Top Fixed Interest Savings Discussion Area

andyhicks88

With Ford Money, I wonder if a new customer could set up an easy access account or something and then become eligible for the "existing customer" fixed rate account rates?

refluxer

andyhicks88 said:

With Ford Money, I wonder if a new customer could set up an easy access account or something and then become eligible for the "existing customer" fixed rate account rates?

That's certainly a possibility. Their Flexible Saver seems to be available currently and pays a decent rate for an account with unlimited withdrawals.

You can also transfer from the Flexible Saver to a Fixed Saver.

TomDolan

andyhicks88 said:

With Ford Money, I wonder if a new customer could set up an easy access account or something and then become eligible for the "existing customer" fixed rate account rates?

I have just opened the flexible saver and can apply for the fixed saver 1,2,5yrs term

AmityNeon

Those accounts are essentially available to all, as applying for a standard savings account is far simpler and less onerous than a current account, and there is no 12-month requirement for existing customers.

BarGin

If I am able to open a Ford Money fixed interest account and I choose monthly interest, is that paid monthly into my linked current account?

Old_Slaphead

Yes it can be. Or to their Flexible Saver which is Easy Access.

peter021072

I've applied to open accounts with Shawbrook and Hampshire Trust banks, but I intend to fund using a lower deposit (around 60-70%) then I stated on their form when applying last week.

Does anyone know if investors have to fund the exact amount they stated when they applied, and if the banks will close the account if not funded in full?

Band7

peter021072 said:

I've applied to open accounts with Shawbrook and Hampshire Trust banks, but I intend to fund using a lower deposit (around 60-70%) then I stated on their form when applying last week.

Does anyone know if investors have to fund the exact amount they stated when they applied, and if the banks will close the account if not funded in full?

Don’t worry, it won’t matter. The amount you gave them in the application is for information only.

BTW, at Shawbrook and HTB, you are not investing but saving. Investments have very different T&Cs and risks levels compared with savings

andyhicks88

Do you think the boe rate rise tomorrow will lead to any rises with fixed rates or will they probably keep going their downwards trend?

Johnjdc

andyhicks88 said:

Do you think the boe rate rise tomorrow will lead to any rises with fixed rates or will they probably keep going their downwards trend?

BoE rate rise, if it even happens, will have no effect whatsoever on fixed rate. 0.5% is factored in. They may do 0.25% in which case the market will take that as a signal of a lower peak and fixed rates might fall. In the unlikely event that they do .75% they might go up, but I think the lower than expected inflation this morning has put paid to any slim chance of that. Gilts have been edging up so I'd expect the best 1-2 year fixed rates to stay within the 4.25 to 4.75% range for the foreseeable unless anything significant happens.