The Top Fixed Interest Savings Discussion Area

Ifts

cwep2 said:

You can always apply for a fix now, and choose not to fund it, you normally have two weeks to do so. If offered rates go up, apply for higher rate, rinse and repeat. This tactic is probably especially relevant if you are thinking about taking out a fixed rate bond right now.

This is the way to go 

Vanquis give you a 30 day window to fund it from account opening date.
Once first deposit is made, you have a further 5 days to make any more deposits.
Then if you do make your first deposit, they write to you to let you know they have received the opening deposit. And the letter also says:

 "If you decide, within 14 days of this letter, that it is not right for you at the moment, we will happily return your savings.".

In this 14 day window, if they bring out a better rate, they let you open the new fixed rate bond and they move the money (inc any interest) over for you. Or you can have it all returned to you, if you want to go elsewhere.

auser99

sparkiemalarkie said:

sparkiemalarkie said:

ColdIron said:

Investec offering 5.00% on a one year fix, min £5,000, also via HL

https://savings.investec.com/fixed-rate-saver

I managed to get a 2yr 5.07% yesterday with Investec on HL but it has already disappeared from the list - maybe to increase the rate.
There is an option for me to cancel for a few days yet if things get better

Yes I was right, the Investec interest rate for fixed bonds has been increased on HL
1yr@ 5%
2yr@ 5.15% / 5.28%
3yrs@ 5.18% / 5.45%

Not sure what the 2nd interest rate means though

Silly rookie question, but what is the role of HL? Are they anything like Raisin that act as some sort of 3rd party?
Just wondered why these rates aren't on the money saving top rate list? Yet even Raisin stuff is?

Doctor_Who

Yes, HL are like Raisin and offer a range of accounts from various banks etc. I use both, but rates at HL have been poor recently (until now). My issue with Investec is that all of the bonds pay interest on maturity, I'd much prefer monthly/annual interest for tax purposes.

Gollygumdrops

Barkin said:

Have you tried, and they've actually asked to see them? Or do you not have either? 

I've had/got several Investec accounts, but they've never asked to see anything. 

I do have a current passport, but not a photo card driving license. 

Hi Barkin, No I have not tried to open an account with Investec as they always  state in their ‘requirements’ to open an account that this is what they will need.   Like yourself I do have a passport but not a photo card driving licence, as I’ve not needed to change my (non-photo) driving licence for the last 30 odd years. But to have lived here for 60 plus years and now be required to prove who I am is an insult to me, so they do not get my custom, no matter what their interest rate is!  All their new accounts ask for photo id in their requirements.  Did you open your accounts before this was necessary and they allow you to open a new account on the basis that you had accounts with them previously? 

Barkin

I last renewed my relationship with them (no existing accounts, and starting from scratch) about 15 months ago.

I can't recall exactly what I had to provide. Could've been a passport number, could've been a photo of my passport, but I really don't remember.

Whatever it was, I did it all in about 10 minutes, without leaving my sofa. 

TheBanker

Gollygumdrops said:

Barkin said:

Have you tried, and they've actually asked to see them? Or do you not have either? 

I've had/got several Investec accounts, but they've never asked to see anything. 

I do have a current passport, but not a photo card driving license. 

Hi Barkin, No I have not tried to open an account with Investec as they always  state in their ‘requirements’ to open an account that this is what they will need.   Like yourself I do have a passport but not a photo card driving licence, as I’ve not needed to change my (non-photo) driving licence for the last 30 odd years. But to have lived here for 60 plus years and now be required to prove who I am is an insult to me, so they do not get my custom, no matter what their interest rate is!  All their new accounts ask for photo id in their requirements.  Did you open your accounts before this was necessary and they allow you to open a new account on the basis that you had accounts with them previously? 

The problem is that checking the electoral roll and whether your details match an active credit reference agency file prove that you exist, but they don't prove that the person who's opening the account is you. 

Arguably for savings accounts, restricting deposits and withdrawals from/to a nominated account which is proven to belong to you should be sufficient. But unfortunately I think showing physical ID will become more common, and you might struggle to access the full range of accounts if you choose not to do this.

Millyonare

Raisin app...

Investec = 5.15% fixed for 2 years.

Gollygumdrops

@The Banker
“The problem is that checking the electoral roll and whether your details match an active credit reference agency file prove that you exist, but they don't prove that the person who's opening the account is you. 

Arguably for savings accounts, restricting deposits and withdrawals from/to a nominated account which is proven to belong to you should be sufficient. But unfortunately I think showing physical ID will become more common, and you might struggle to access the full range.”

Do not worry,  The Banker.  I will happily “struggle to access the full range” if it means the globalist lot do not get me jumping through hoops and doffing my cap to them, just so they can steal all my identity and innermost details.  I suggest others do likewise before the 1% take full and complete control of our daily lives, thoughts and dreams.   

t1redmonkey

Looks like Atom have joined the 5% club; offering 1/2/3/5 year bonds at 5% all with an option of monthly interest as well.

TheBanker

Gollygumdrops said:

@The Banker
“The problem is that checking the electoral roll and whether your details match an active credit reference agency file prove that you exist, but they don't prove that the person who's opening the account is you. 

Arguably for savings accounts, restricting deposits and withdrawals from/to a nominated account which is proven to belong to you should be sufficient. But unfortunately I think showing physical ID will become more common, and you might struggle to access the full range.”

Do not worry,  The Banker.  I will happily “struggle to access the full range” if it means the globalist lot do not get me jumping through hoops and doffing my cap to them, just so they can steal all my identity and innermost details.  I suggest others do likewise before the 1% take full and complete control of our daily lives, thoughts and dreams.   

I can confirm that, having allowed First Direct sight of my passport last week, they have not yet taken control of my life or thoughts. I did dream about a 9% bond though so maybe you're right. I will be more careful in future.