The Top Fixed Interest Savings Discussion Area

BigBlueSky

Mr_blibby said:

BigBlueSky said:

Can't decide between the Vanquis and Al Rayan both offering 5.30%.

I've had both for a long time - No prob with Al Rayan, but Vanquis seem lots easier to mange online, monthly payments if that's important for you, change nominated account online, 14 day cooling off in case anything better pops up...

Thanks.  I've used Al Rayan for their Everyday Saver account before and it has worked well.  I think I'll go ahead with the Vanquis one.  The 14 day cooling off sounds good at the moment especially with rates increasing at the moment.

Expotter

Included in Vanquis T&C, 

"5. Each Account will be a limited issue, and will therefore be subject to availability. If the issue becomes fully subscribed between the date we receive your application and the date we receive your deposit and/or any necessary proof of identity and residency documents, we will no open an Account for you and will return the amount of your deposit without interest. We may discontinue or stop opening new accounts without telling you."

So if I'm reading this correctly, for anyone planning to open one just in case, even though it allows 30 days for funding, it doesn't necessarily mean it will always allow a late deposit.

Thumbs_Up

BigBlueSky said:

Can't decide between the Vanquis and Al Rayan both offering 5.30%.

I’ll help to decide for you, Vanquish with a click of a mouse button you can change around interest payments either monthly or annually throughout the fixed period. Not many banks offer that, Btw i bank with both.

 

JGB1955

Thumbs_Up said:

Vanquis got me for a 3 year fix @ 4.95%, now outside the 14 day cooling off period. Dam, double dam.

I've already changed a 1 year fix at 4.71% to a 2 year at 4.95% (within the 14 day cooling off period).  Just wondering if I can rinse and repeat and get the 5.3%.... not sure how many cooling off periods you can have!

alternate

baldeagle09 said:

Al Rayan 5.30% - 1 year fixed rate.  This doesn't feature in MSE's top fixed-term savings accounts either standard or non-standard. Is there a reason for this?

because it isn't interest.  It is 99% the same as interest but that 1% means some comparison sites segregate it out.

Mr_blibby

JGB1955 said:

Thumbs_Up said:

Vanquis got me for a 3 year fix @ 4.95%, now outside the 14 day cooling off period. Dam, double dam.

I've already changed a 1 year fix at 4.71% to a 2 year at 4.95% (within the 14 day cooling off period).  Just wondering if I can rinse and repeat and get the 5.3%.... not sure how many cooling off periods you can have!

if you opened a new account and you are in the 14 day period then I dont see why not - their confirmation letter is account specific, so worth a try

JGB1955

Mr_blibby said:

JGB1955 said:

Thumbs_Up said:

Vanquis got me for a 3 year fix @ 4.95%, now outside the 14 day cooling off period. Dam, double dam.

I've already changed a 1 year fix at 4.71% to a 2 year at 4.95% (within the 14 day cooling off period).  Just wondering if I can rinse and repeat and get the 5.3%.... not sure how many cooling off periods you can have!

if you opened a new account and you are in the 14 day period then I dont see why not - their confirmation letter is account specific, so worth a try

Well, I've opened the 'new' account and will let you know how I get on. 

t1redmonkey

JGB1955 said:

Thumbs_Up said:

Vanquis got me for a 3 year fix @ 4.95%, now outside the 14 day cooling off period. Dam, double dam.

I've already changed a 1 year fix at 4.71% to a 2 year at 4.95% (within the 14 day cooling off period).  Just wondering if I can rinse and repeat and get the 5.3%.... not sure how many cooling off periods you can have!

Would reset every time I believe, since you are agreeing to a new set of Ts and Cs whenever you apply for a new rate, meaning the 14 day clock starts over.

Futuristic

baldeagle09 said:

Al Rayan 5.30% - 1 year fixed rate.  This doesn't feature in MSE's top fixed-term savings accounts either standard or non-standard. Is there a reason for this?

Use money facts, they are quicker to update and has everything. Sometimes need to click sort by rate order instead of promoted ones.

https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/?quick-links-first=false

jaypers

Charter now updated……

1 Year 5.23%
18 Months 5.25%
2 Year 5.30%