The Top Fixed Interest Savings Discussion Area

VNX

DF Capital new 18month bond at 5.05%

ColdIron

BreakingGlass said:

sparkiemalarkie said:

The Investec bond has a closing date of 23:59 today 25/05/23 and doesn't start until 30/05/23... so they have your money for 5 days before paying interest on it.

Who 'has your money'?  HL or Investec? 

The money isn't transferred to the partner bank until the 'Start Date', so HL (where it doesn't earn interest)

I opened the Investec account directly and AFAIK I am getting interest during the 'funding window'.

That is the case when you go direct, but not when you go via HL

The period before HL's Start Date isn't a funding window as such (Investec doesn't have your money) although you can use it as such but you would need to cancel the application and place another instruction. Of course you would need the product to still be available

ETA:  I just opened a chat with Investec and asked.  Response: Yes, you will receive interest during the 7 day funding window.

That's because you have gone direct, i.e. Investec does have your money

trickydicky14

VNX said:

DF Capital new 18month bond at 5.05%

The weirdest thing just happened. I opened an 18-month bond with DF a week ago @ 4.95% but as yet I have not funded it. Today, I logged into my DF account and they have opened another 18-month account at the new rate of 5.05%. I did not request this account but am not complaining. So, logically I’ll let the first account expire and fund the second one, most odd.

VNX

trickydicky14 said:

VNX said:

DF Capital new 18month bond at 5.05%

The weirdest thing just happened. I opened an 18-month bond with DF a week ago @ 4.95% but as yet I have not funded it. Today, I logged into my DF account and they have opened another 18-month account at the new rate of 5.05%. I did not request this account but am not complaining. So, logically I’ll let the first account expire and fund the second one, most odd.

I like DF capital, nice website and good to deal with 

SJMALBA

Another small increase from Charter:

1 Year - 4.96%
2 Year - 4.98%

https://www.chartersavingsbank.co.uk/Products/FixedRateBond

Disappointing, IMO. 

info_maniac

t1redmonkey said:

Those Investec 2 and 3 year rates are definitely outliers at the moment, far ahead of the competition.  Maybe just the first to move and others will soon follow but looks really attractive right now:

Just wondering why the HL Active Savings Accounts are not listed in the league tables either on Moneyfacts or on Savings Champion? Raisin are but HL are not.

Also, for the 2 year and 3 year options the Gross rate seems to be more than the AER:

2yrs AER 5.15% / Gross 5.28%
3yrs AER 5.18% / Gross 5.45%

I is possibly because the interest gets added annually and then compounded in the next year(s) - but I may be wrong here.

But, it is not something I see on the 2 or 3 year offerings of other providers:

info_maniac

Actually, looking closely I see that whenever is the interest is paid on "Maturity" the Gross rate is higher than the AER. And, when the interest is paid "Annually" the Gross rate and AER are same. 

But, I am really confused now as in most cases the "Annually" paid interest is getting paid into the fixed rate bond and is then getting compounded year 2 onwards.

bristolleedsfan

info_maniac said:

t1redmonkey said:

Those Investec 2 and 3 year rates are definitely outliers at the moment, far ahead of the competition.  Maybe just the first to move and others will soon follow but looks really attractive right now:

Just wondering why the HL Active Savings Accounts are not listed in the league tables either on Moneyfacts or on Savings Champion? Raisin are but HL are not.

Also, for the 2 year and 3 year options the Gross rate seems to be more than the AER:

2yrs AER 5.15% / Gross 5.28%
3yrs AER 5.18% / Gross 5.45%

I is possibly because the interest gets added annually and then compounded in the next year(s) - but I may be wrong here.

But, it is not something I see on the 2 or 3 year offerings of other providers:

Interest rate is  5.28% using example 2 year fix

5.15% is rate it would be if interest was compounded.

https://www.raisin.co.uk/term-deposit/inv002-investec-2-year-fixed-term-deposit/?#bank-product-details

Not unique, United Bank ( UBL) do the same thing on its fixed rate ISA if choose to have interest added to account which is paid at maturity.

StayinAlive

VNX said:

I like DF capital, nice website and good to deal with 

Anyone know of DF will accept deposits by cheque. Their KPI says "‘nominated account’ must be used as the source of any money deposited", which in my book should include cheques but it's not specifically mentioned.

bristolleedsfan

StayinAlive said:

VNX said:

I like DF capital, nice website and good to deal with 

Anyone know of DF will accept deposits by cheque. Their KPI says "‘nominated account’ must be used as the source of any money deposited", which in my book should include cheques but it's not specifically mentioned.

Deposit

How do I pay money in to my savings account?

Deposits can be made by Faster Payments or BACS by contacting your bank or building society. If you are looking to make payments via CHAPs please contact us on savings@dfcapital.co.uk before sending the payment and we will be happy to assist you.

https://www.dfcapital.bank/help/#deposit