The Top Fixed Interest Savings Discussion Area

fabsaver

gesdt50 said:

t1redmonkey said:

The Natwest/RBS ones are interesting, as they give the possibility to close early, kind of rare with these types of accounts.

They state "Early closure charges may apply. " under What is the interest rate so hiddenin the small T&c's

Details of the early closure charges are in the Information Sheet document:
https://www.natwest.com/content/dam/natwest/personal/permanent/savings/documents/nw-pers-savings-ftsa-issues-202-203-information-sheets-01-06-2023.pdf

"The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest"

oz0707

The terms look pretty agreeable on that Natwest fixed term account, similar to ISA conditions. 

intalex

Futuristic said:

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/

A very interesting option this... if one was to deposit £85k then £100 interest would be earned in just 10 days.

By my calculations, a principal investment of £85k made now, one would earn about the same (after £100 break penalty) by end-July as they would in an easy access at 3.85% AER (or mid-August if easy access rates reach 4.00% AER).

oz0707

intalex said:

Futuristic said:

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/

A very interesting option this... if one was to deposit £85k then £100 interest would be earned in just 10 days.

By my calculations, a principal investment of £85k made now, one would earn about the same (after £100 break penalty) by end-July as they would in an easy access at 3.85% AER (or mid-August if easy access rates reach 4.00% AER).

you need the first direct current account though. They are a very good bank customer service wise tbf, I had a savings account with them around 2010. Wonder if that rules me out for the £175 switch bonus

ranciduk

Has anyone had a TSB fixed bond before?

how do you get your maturity instructions? Do they actually send you a letter in the post , or an email??

Sea_Shell

With regards the Shawbrook 1 yr fix accounts.  (or any other length for that matter)

Once opened, if they remain unfunded*, then that issue is subsequently withdrawn and the funding period expires, do they just sit showing in your on-line banking with £0 balance, or do they disappear, or do you have to formally close them?     Is that easy to do?   Secure message?



*Because something better came along

VNX

Sea_Shell said:

With regards the Shawbrook 1 yr fix accounts.  (or any other length for that matter)

Once opened, if they remain unfunded*, then that issue is subsequently withdrawn and the funding period expires, do they just sit showing in your on-line banking with £0 balance, or do they disappear, or do you have to formally close them?     Is that easy to do?   Secure message?



*Because something better came along

Depends on the lender.

Sea_Shell

VNX said:

Sea_Shell said:

With regards the Shawbrook 1 yr fix accounts.  (or any other length for that matter)

Once opened, if they remain unfunded*, then that issue is subsequently withdrawn and the funding period expires, do they just sit showing in your on-line banking with £0 balance, or do they disappear, or do you have to formally close them?     Is that easy to do?   Secure message?



*Because something better came along

Depends on the lender.

Well yes.  That's why I was asking specifically about Shawbrook and their fixed term accounts (of any length).

I think you may have misread "length" for "lender". 😉.    

ranciduk

I’m guessing a quick secure message asking them to close that account would do it

subjecttocontract

Al Rayan offering a 6 month fix at 4.66%