The Top Fixed Interest Savings Discussion Area

bertsilver

t1redmonkey said:

BooJewels said:

t1redmonkey said:

Vanquis are good, opened my fixed bonds with them in November last year - you can change interest from monthly to annual (or vice versa) at any time, and also change whether it gets put back into the bond or is paid out to an external bank account.

I was just coming to ask this.  Do they definitely pay out monthly to your nominated account?  I've read the T&C etc but it uses woolly wording like "paid to you" - it doesn't distinguish between paid back into the fix, or paid outside it.  I'm in the market at the end of the month for some fixes and one of my personal criteria is monthly paid out externally.   Obviously the issue might have closed by then.

Yep, I opt to have mine paid monthly into an external bank account (initially had it reinvested for the first month but changed it over to pay out instead so I know the functionality works).  This is how it appears in the manage your account section, quite easy to change your preference:

How long do you have to fund it? 

t1redmonkey

bertsilver said:

t1redmonkey said:

BooJewels said:

t1redmonkey said:

Vanquis are good, opened my fixed bonds with them in November last year - you can change interest from monthly to annual (or vice versa) at any time, and also change whether it gets put back into the bond or is paid out to an external bank account.

I was just coming to ask this.  Do they definitely pay out monthly to your nominated account?  I've read the T&C etc but it uses woolly wording like "paid to you" - it doesn't distinguish between paid back into the fix, or paid outside it.  I'm in the market at the end of the month for some fixes and one of my personal criteria is monthly paid out externally.   Obviously the issue might have closed by then.

Yep, I opt to have mine paid monthly into an external bank account (initially had it reinvested for the first month but changed it over to pay out instead so I know the functionality works).  This is how it appears in the manage your account section, quite easy to change your preference:

How long do you have to fund it? 

Mine was opened last year, however on the product summary for these issues, it says 30 days of receiving your welcome letter: 

 

ChilliBob

t1redmonkey said:

Vanquis are good, opened my fixed bonds with them in November last year - you can change interest from monthly to annual (or vice versa) at any time, and also change whether it gets put back into the bond or is paid out to an external bank account.

Good to know, I opened a fix but didn't fund it as others had surpassed it, but based on the above its competitive again, I may jump in and open a fix

ForumUser7

With regards to this post in another thread:

@alternate said:

Cynergy made some minor changes to their T&C.  Nothing really of interest, however in the email about my fixed rate ISA it says that you can refuse the T&C and close the account "with no charge".  I wonder if that gives people locked in to a lower rate a chance to transfer out without paying the usual penalty that a fixed rate would entail.

https://forums.moneysavingexpert.com/discussion/comment/80062551/#Comment_80062551

Has anyone received a similar email about their Fixed Rate Bond (as opposed to their Fixed Rate ISAs) yet please?

alternate

ForumUser7 said:

With regards to this post in another thread:

@alternate said:

Cynergy made some minor changes to their T&C.  Nothing really of interest, however in the email about my fixed rate ISA it says that you can refuse the T&C and close the account "with no charge".  I wonder if that gives people locked in to a lower rate a chance to transfer out without paying the usual penalty that a fixed rate would entail.

https://forums.moneysavingexpert.com/discussion/comment/80062551/#Comment_80062551

Has anyone received a similar email about their Fixed Rate Bond (as opposed to their Fixed Rate ISAs) yet please?

Looks like it might be only cash ISA T&C that is changing

quote from the email 

To do this, we've divided our Cash ISA T&Cs into two parts:

1. Our general Personal Savings Account Terms & Conditions. These contain the T&Cs that are common to how we provide our savings services. For example, they explain how we'll stay in touch.
2. Our Cash ISA Product Terms and Conditions. These contain the T&Cs that are specific to how your Cash ISA savings account with us works.

VNX

DF Capital 4.99% on one year bond 

t1redmonkey

Just a heads up that there is new inflation data coming out on Wednesday, so if it shows a significant decrease we -may- see a lot of the better rates on fixed term bonds disappearing if banks think it'll make the BOE change course on their rate setting.  

May be worth opening one in advance of Wednesday (even if you don't fund it) if you're considering it, since you usually get a 2-4 week 'no obligation' funding window after doing so.

BooJewels

I've been considering doing just that - I'm in the market for some new fixes, but won't have the funds until next week.  I need to make some decisions, but don't want to feel rushed into it either. 

I'm not sure inflation is going to be down very much yet, but I'm certainly seeing 1 year bonds are largely at better rates than longer terms, so the banks don't seem to want to stick their necks out too far into the future.

VNX

t1redmonkey said:

Just a heads up that there is new inflation data coming out on Wednesday, so if it shows a significant decrease we -may- see a lot of the better rates on fixed term bonds disappearing if banks think it'll make the BOE change course on their rate setting.  

May be worth opening one in advance of Wednesday (even if you don't fund it) if you're considering it, since you usually get a 2-4 week 'no obligation' funding window after doing so.

Good advice. I know we have all been here before, being primed for (finally) seeing downward pressure on inflation figures and it not coming.

but at some point we will start to see the direction of travel in lower inflation (albeit probably slower and stickier than was previously expected) 

as you say best bet open whatever fixes one may want/need before the data and wait and see

trickydicky14

VNX said:

DF Capital 4.99% on one year bond 

I can only see issue 10 @ 4.90%