The Top Fixed Interest Savings Discussion Area

wiseonesomeofthetime

Oooooh!!!

Patr100

RG2015 said:

Patr100 said:

RobinhoodSavings said:

Don't fix anything yet. Keep it on hold until the end of next week. 

Why, What's happening then?

See their post from yesterday.

https://forums.moneysavingexpert.com/discussion/6362339/stay-tuned-new-high-rate-savings-accounts-coming-the-end-of-next-week/p1

So an anonymous poster who only joined two  weeks ago has "sources".
I'll remain to be convinced that this will come to much but happy to be proved otherwise.

sparkiemalarkie

Tesco Bank have a 1yr Fixed Rate Bond @ 2.35%  minimum deposit £2000
Monthly or annual interest
Monthly interest can be paid into a different account

hth

sx

BACKTOBACK

sparkiemalarkie said:

Tesco Bank have a 1yr Fixed Rate Bond @ 2.35%  minimum deposit £2000
Monthly or annual interest
Monthly interest can be paid into a different account

hth

sx

What would happen if you took this account with monthly interest. Then if you needed the money before the one year term?

Would there be penalties, would you be prevented from withdrawing the money?

Say after six months could you keep all the interest and withdrawal the money in full? 

soulsaver

BACKTOBACK said:

sparkiemalarkie said:

Tesco Bank have a 1yr Fixed Rate Bond @ 2.35%  minimum deposit £2000
Monthly or annual interest
Monthly interest can be paid into a different account

hth

sx

What would happen if you took this account with monthly interest. Then if you needed the money before the one year term?

Would there be penalties, would you be prevented from withdrawing the money?

Say after six months could you keep all the interest and withdrawal the money in full? 

Maybe worth you reading the terms? 

BACKTOBACK

asking on a forum quicker and easier

Notepad_Phil

BACKTOBACK said:

asking on a forum quicker and easier

It might be easier but I'm pretty sure it hasn't been quicker for you.

From the t&c's see below - note that most non-ISA fixed accounts are at least as strict as Tesco are

No. You can’t take your money out until your fixed rate term ends. If you need to access your money due to exceptional circumstances, we will pay the balance on your account to you and the account will be closed. You will not be charged for this. The following are examples of what we think are ‘exceptional circumstances’ – death, diagnosis of a terminal illness, bankruptcy, insolvency or sequestration. We may ask you to provide evidence of your circumstances.

refluxer

BACKTOBACK said:

What would happen if you took this account with monthly interest. Then if you needed the money before the one year term?

Would there be penalties, would you be prevented from withdrawing the money?

Say after six months could you keep all the interest and withdrawal the money in full? 

No - as Notepad_Phil mentioned above, you can't generally withdraw your deposit from any (non-ISA) Fixed Rate saver before the term is up. The higher rates are given to you in return for guaranteeing they can keep your money for the specified length of time.

Patr100

Ahli United Bank (UK)  hits 2.55% 
Paid on maturity.

janusdesign

Patr100 said:

Ahli United Bank (UK)  hits 2.55% 
Paid on maturity.

only available via Raisin I believe.