The Top Fixed Interest Savings Discussion Area

trickydicky14

VNX said:

HTB with some nice rates

One year 5pc
18 month 5.07pc
Two year 5.15pc
Three year 5.10pc
Four year 5.05pc
five year 5pc

14 day cooling off / funding window if you find HTB and close it you get the interest already accrued returned along with your initial deposit 

it appears lenders see interest rates remaining at or around current levels for quite some time based on these offerings, great for savers (I appreciate inflation erodes savings mind you) not so great for those with healthy mortgages 

Its all a bit bitter sweet, a few years ago those with mortgages had access to incredibly low rates and savers hung out to dry. Mind you, given the option as a saver I would rather be in the past tense because inflation was low and my S&S was making a steady return.

It’s sad to think that these 5+% savings rates all they are doing is slowing down the speed we are falling but we all remain much poorer.  

allegro120

VNX said:

14 day cooling off / funding window if you find HTB and close it you get the interest already accrued returned along with your initial deposit 

Is this just with HTB, or a normal case with other banks?  I've recently opened and funded 3 fixed accounts (HTB, OakNorth and DF) and wouldn't mind to withdraw, funding window ends on 30th (next Tuesday). 

VNX

allegro120 said:

VNX said:

14 day cooling off / funding window if you find HTB and close it you get the interest already accrued returned along with your initial deposit 

Is this just with HTB, or a normal case with other banks?  I've recently opened and funded 3 fixed accounts (HTB, OakNorth and DF) and wouldn't mind to withdraw, funding window ends on 30th (next Tuesday). 

All banks differ. Some have a cooling off period some don’t.

also I know someone who withdrew and closed an account with OakNorth and the interest they had earned was not returned with the balance yet HTB do pay it 

SJMALBA

VNX said:https://oaknorth.co.uk/legal/terms-and-conditions/personal-savings/fixed-term-deposits/

allegro120 said:

VNX said:

14 day cooling off / funding window if you find HTB and close it you get the interest already accrued returned along with your initial deposit 

Is this just with HTB, or a normal case with other banks?  I've recently opened and funded 3 fixed accounts (HTB, OakNorth and DF) and wouldn't mind to withdraw, funding window ends on 30th (next Tuesday). 

All banks differ. Some have a cooling off period some don’t.

also I know someone who withdrew and closed an account with OakNorth and the interest they had earned was not returned with the balance yet HTB do pay it 

Yes, it varies.

From Oaknorth:

'4.3. If you exercise your right to cancel, we will return any money you have deposited with us back to your nominated bank account. In the event of such a cancellation, you will not receive any interest.'

https://oaknorth.co.uk/legal/terms-and-conditions/personal-savings/fixed-term-deposits/

Ifts

allegro120 said:

Is this just with HTB, or a normal case with other banks?  I've recently opened and funded 3 fixed accounts (HTB, OakNorth and DF) and wouldn't mind to withdraw, funding window ends on 30th (next Tuesday). 

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.

Barney1954

I contacted SmartSave a few days after the rates increased on a Fixed Term Savings account I applied for and received this reply.

"Our rates do change from time to time. We review this regularly based on the current market, so we wouldn't have been able to let you know of the rate change at the time of your application.

 Once your funds are deposited they're safely locked away for the fixed term. Your rate is also fixed and can't be changed from the day you open your account, to when it matures.

The 14 day cooling off period that you've referred to applies to credit products only. Savings products don't have a cooling off period and therefore you'll be unable to withdraw the funds under these circumstances."

bristolleedsfan

SmartsSave states on product page "no cooling off period"

14 days to fund is often an alternative to a 14 days cooling off period. (some offer both, as others have said it varies)

VNX

5.16pc two year with DF Capital

trickydicky14

National bank of Egypt One year fix 5.25% via Raisin.

Sea_Shell

trickydicky14 said:

National bank of Egypt One year fix 5.25% via Raisin.

Minimum £10k