The Top Fixed Interest Savings Discussion Area

refluxer

Vanquis state that monthly interest is paid on "the date of the month you initially funded your account".

Rollinghome

jimexbox said:

 I 'think' interest paid monthly on initial deposit, but not 100%.

You're right, corresponds with the day of the month opened.

SJMALBA

Vanquis monthly interest:

SickGroove

So if I opened it today but didn't fund it til 10th May, monthly interest would be applied on 10th of each month from June onwards? 

If so, would the maturity date still be a year today or 10/05/2024 as that was when the first deposit hit the account?

jaypers

Got an Atom fixed maturing in August and a Charter in November. Think it’s about a prime time to jump into a 2 year now. 

jimexbox

All these fixed bond rises point to inflation/base rates not dropping as rapidly as the BoE expected. No surprise there then. 

Rollinghome

jimexbox said:

All these fixed bond rises point to inflation/base rates not dropping as rapidly as the BoE expected. No surprise there then.

I suspect they never expected it to fall as fast as they suggested, but see it as helpful to talk it down.

The inverted yield on fixed rate savings terms offered by some banks suggests they do expect rates to fall but taking quite a while.

Thumbs_Up

The 5 year fixed @ 5% barrier won’t be broken anytime soon.

JGB1955

SickGroove said:

So if I opened it today but didn't fund it til 10th May, monthly interest would be applied on 10th of each month from June onwards? 

If so, would the maturity date still be a year today or 10/05/2024 as that was when the first deposit hit the account?

The maturity date will be on the anniversary of your first payment in.  I funded one of my accounts over 2 days and the earlier date has been used for working out the maturity date.  Yes, your interest would be paid on the 10th of each month.

EthicsGradient

Al Rayan is up to 4.85% for 2 year, and 4.9% for 3 year, expected profit rate.