The Top Fixed Interest Savings Discussion Area

Patr100

Frequentlyhere said:

Patr100 said:

SmartSave1 Year Fixed Rate Saver now at  2.73%

min £10,000

I was told by their CS on social media that the reason my application as an existing customer was failing was because the system only lets you have one account ( of course it doesn't actually tell you that..).

Though that seems totally bizarre to me, why would they want to limit you to just one bond?

To maximise their customer base?

SJMALBA

Charter Savings Bank has a 1-Year bond @ 2.71%

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

WillowLea1962

Apologies if already mentioned but Tandem 1-Year fixed saver rate is now 2.70% AER 

Patr100

Gatehouse (min £1000) & Tandem (min £1)
now both have 1 year rates at 2.75%

garyelder

I’m ready for the next interest rate rise on 4th August, no more locking in until then
maybe 0.5% rise, that was mentioned on the world news this morning  
I can see the bank of mum and dad helping out my kids  

pearl123

garyelder said:

I’m ready for the next interest rate rise on 4th August, no more locking in until then
maybe 0.5% rise, that was mentioned on the world news this morning  
I can see the bank of mum and dad helping out my kids  

I agree. I think it's worth waiting. 

bertsilver

Ford money 1 year fix now 2.58%

ranciduk

Shawbrook have now withdrawn their 6 month bond completely 

subjecttocontract

Why would anyone consider putting savings into a fixed interest account when we have finally, after many years, reached a period of rising interest rates ? 

Sea_Shell

subjecttocontract said:

Why would anyone consider putting savings into a fixed interest account when we have finally, after many years, reached a period of rising interest rates ? 

IMO, its a balancing act, between securing a good rate now (for any given period) against what rate you might be able to get tomorrow, whilst losing interest on the money where it currently is.

So say you have £X in the best instant access account, but you don't need it all to be instant access, so you put £X into a one year account earning 1% more.    By the end of that year you reassess.    

Jam today or possibly more Jam tomorrow?