The Top Fixed Interest Savings Discussion Area

auser99

VNX said:

gesdt50 said:

The National Bank of Egypt UK via Raisin(online 'savings marketplace') offering 5.25% is obivoulsly good though been limited to taking out sums of £500 a time would be very time comsuming

I find especially of late best to wait, almost always recently some obscure bank via raisin pops up with a really good rate but give it time and a more mainstream bank directly ends up offering the same rate 

Definitely, i'd probably prefer to have a lower interest account somewhere like Shawbrook or Kent that i've had before, rather than a totally random 3rd party link up.

smithers1981

Apologies previous post  old news 

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Licking my lips with NatWest, a bank that’s to big to fail, I’ve  giving up with NS&I now, they had a opportunity to get my dosh.

The T/C’s are a bit ambiguous, how I read it you can take back you money up to the cut-off point, paying a penalty, but once past that point it’s lock in for 1 or 2 years.

Hand on heart i can see better rates coming within months though.  

 

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t1redmonkey said:

auser99 said:

Deleted_User said:

Painful seeing all these good rates after spending 10 years saving a deposit on peanut rates! 

Can't wait to save again!

But on the flipside, inflation is way higher now, then it was during those poor interest times.

Yep think I'd rather have less inflation + lower rates personally.

Since I hardly spend any money, I have a opposite view.

t1redmonkey

Thumbs_Up said:

t1redmonkey said:

auser99 said:

Deleted_User said:

Painful seeing all these good rates after spending 10 years saving a deposit on peanut rates! 

Can't wait to save again!

But on the flipside, inflation is way higher now, then it was during those poor interest times.

Yep think I'd rather have less inflation + lower rates personally.

Since I hardly spend any money, I have a opposite view.

Well neither do I, but can't say it's great that inflation is outperforming savings rates, don't think many can be happy with that.

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t1redmonkey said:

Thumbs_Up said:

t1redmonkey said:

auser99 said:

Deleted_User said:

Painful seeing all these good rates after spending 10 years saving a deposit on peanut rates! 

Can't wait to save again!

But on the flipside, inflation is way higher now, then it was during those poor interest times.

Yep think I'd rather have less inflation + lower rates personally.

Since I hardly spend any money, I have a opposite view.

Well neither do I, but can't say it's great that inflation is outperforming savings rates, don't think many can be happy with that.

So if you hardly spend any money how does inflation personally effect you? The BoE make’s the right noises, but I thought that how governments try to eradicate Hugh debt, high inflation.   

Expotter

Thumbs_Up said:

t1redmonkey said:

Thumbs_Up said:

t1redmonkey said:

auser99 said:

Deleted_User said:

Painful seeing all these good rates after spending 10 years saving a deposit on peanut rates! 

Can't wait to save again!

But on the flipside, inflation is way higher now, then it was during those poor interest times.

Yep think I'd rather have less inflation + lower rates personally.

Since I hardly spend any money, I have a opposite view.

Well neither do I, but can't say it's great that inflation is outperforming savings rates, don't think many can be happy with that.

So if you hardly spend any money how does inflation personally effect you? The BoE make’s the right noises, but I thought that how governments try to eradicate Hugh debt, high inflation.   

Presumably, the only point of saving money is so you can spend it in the future or to give it to someone else to spend in the future. Either way, the higher the inflation (assuming savings rates are lower) the less your money will buy, its value is being eroded as we speak. You might feel you're alright now, but whenever that money is spent it'll buy a lot less than it would now.

happybagger

But inflation is a historic figure. We lost about 8% last year, 10% inflation and about 2% interest.

Cash *might* do better over the coming 12 months, with rates over 5%, we won't know where inflation will be in June 2024 but that's the figure that will show whether our spending power increased or not.

And of course, we all have our own personal inflation rate based on our own spending patterns. As a low energy user but high mileage driver my inflation rate has fallen a lot over the last 12 months.

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Ok, fun interlude, Now back to “ The Top Fixed Interest Savings Discussion Area”

Futuristic

I saw this mentioned in one of the threads here, its quite interesting account if you have large amounts but dont want to be 100% "locked" for a year with a fixed £100 fee to withdraw (since its HSBC you "could" go over 85k)
 
https://www.firstdirect.com/savings-and-investments/savings/fixed-rate-savings/