The Top Fixed Interest Savings Discussion Area

Alex9384

5.84% - 18 months bond at HTB

pokemaster

BooJewels said:

I realise it's not chart topping these days, but just spotted that Skipton have seemingly added an 18 month Fixed Rate Bond at 5.25% with a £5k minimum.  Rather more than the 1 year (3.9%) and 2 year (4%) either side of it, albeit they only require a £500 minimum.

ETA the link I forgot.

Also noticed this on the Skipton Fixed rates page (It's a Branch one, but also now limited access?) Don't think I've seen those rules before?

VNX

Oxbury 5.8% for all customers now one and two year 

smartsave will be 5.81 tomorrow then let’s see who jumps that 

Shedman

Very disappointed by Charter Savings Bank who continue to offer maturity options on maturing fixed rate accounts that are worse than those being offered to new customers e.g. MiL has just received maturity notification today (for account maturing on 14 July) but is only being offered 5.47% on a new 2 year fix compared to 5.67% for a new account.   So much for loyalty!  Most other banks offer a small renewal loyalty bonus.  Not only that but they don't increase the rate if the rate on the account improves before the actual renewal date, again unlike a number of other banks. 

Their answer just seems to be that you should just open the new (higher rate) account separately and then point the maturity option to that one but a) why should you need to do this when they could offer it as a maturity option anyway and b) when opening new accounts (even with same bank) using a POA it is not always straightforward, which is why we like to try and use the standard maturity options.  

Rant over....

BooJewels

vickyholly said:

BooJewels said:

@vickholly At the moment, the optimal interest rates seem to be on the 2 and 3 year fixes - the 5 years are generally at a lower rate. 

As I understand it, the interest rate is set by the organisation anticipating what the market might be doing in the future - during the life of the fix, so as inflation is targeted to fall significantly over the next few years, interest would likely do the same, so these places don't want to offer too high a rate for the longer term fixes.

I too am about to fix and want monthly interest paid out and I'm looking at Recognise Bank who are offering a 3 year at 5.7% with monthly interest - that would give you around a monthly average of £237.50 and Charter Savings Bank at 5.55% for monthly interest - payment of around £231.25.  Both will pay out to your nominated current account.  There are others, but they're the best at the moment that meet my own personal criteria.

Hi, yes ive been looking at those two banks too, but keep hesitating incase a 5yr fix increases

@vickyholly - I was just doing a round of my own personal shortlist with monthly paid away interest, as some haven't responded to the BoE increase yet and noticed that Aldermore are offering a 5 year fix at 5%, which is 4.89% on monthly paid away interest, which would give you £203.75 per month for 5 years - £12,225 over the life of the fix.  Might look at that one myself.  Just in case you haven't seen it.

JGB1955

BooJewels said:

@vickyholly - I was just doing a round of my own personal shortlist with monthly paid away interest, as some haven't responded to the BoE increase yet and noticed that Aldermore are offering a 5 year fix at 5%, which is 4.89% on monthly paid away interest, which would give you £203.75 per month for 5 years - £12,225 over the life of the fix.  Might look at that one myself.  Just in case you haven't seen it.

There are currently five accounts paying over 5% monthly over 5 years....

RCi                  5.55%/  5.41%
Hodge Bank     5.5% / 5.47%
Atom Bank       5.45% / 5.32%
Principality BS  5.2% / 5.08%
Tesco                5.15%/ 5.03%

BooJewels

JGB1955 said:

BooJewels said:

@vickyholly - I was just doing a round of my own personal shortlist with monthly paid away interest, as some haven't responded to the BoE increase yet and noticed that Aldermore are offering a 5 year fix at 5%, which is 4.89% on monthly paid away interest, which would give you £203.75 per month for 5 years - £12,225 over the life of the fix.  Might look at that one myself.  Just in case you haven't seen it.

There are currently five accounts paying over 5% monthly over 5 years....

RCi                  5.55%/  5.41%
Hodge Bank     5.5% / 5.47%
Atom Bank       5.45% / 5.32%
Principality BS  5.2% / 5.08%
Tesco                5.15%/ 5.03%

Vicky, as myself, requires the monthly interest to be paid out to an external account - I am not familiar with some of those, but know that Hodge and Principality at least don't.  Which was why I said it was my own personal shortlist with monthly paid away interest.  I'd personally discounted Atom as it's app based and for some reason I can't just remember, my phone wasn't suitable.

JGB1955

According to Moneyfacts, Hodge offer the choice of paying away or compounded.  Principality HAS to be paid away.  
To be fair, I haven't checked their individual websites.

bristolleedsfan

BooJewels said:

JGB1955 said:

BooJewels said:

@vickyholly - I was just doing a round of my own personal shortlist with monthly paid away interest, as some haven't responded to the BoE increase yet and noticed that Aldermore are offering a 5 year fix at 5%, which is 4.89% on monthly paid away interest, which would give you £203.75 per month for 5 years - £12,225 over the life of the fix.  Might look at that one myself.  Just in case you haven't seen it.

There are currently five accounts paying over 5% monthly over 5 years....

RCi                  5.55%/  5.41%
Hodge Bank     5.5% / 5.47%
Atom Bank       5.45% / 5.32%
Principality BS  5.2% / 5.08%
Tesco                5.15%/ 5.03%

Vicky, as myself, requires the monthly interest to be paid out to an external account - I am not familiar with some of those, but know that Hodge and Principality at least don't.  

Hodge Bank state  

• Opt to have interest paid annually or monthly, into either your savings account or your nominated bank account

BooJewels

bristolleedsfan said:

BooJewels said:

JGB1955 said:

BooJewels said:

@vickyholly - I was just doing a round of my own personal shortlist with monthly paid away interest, as some haven't responded to the BoE increase yet and noticed that Aldermore are offering a 5 year fix at 5%, which is 4.89% on monthly paid away interest, which would give you £203.75 per month for 5 years - £12,225 over the life of the fix.  Might look at that one myself.  Just in case you haven't seen it.

There are currently five accounts paying over 5% monthly over 5 years....

RCi                  5.55%/  5.41%
Hodge Bank     5.5% / 5.47%
Atom Bank       5.45% / 5.32%
Principality BS  5.2% / 5.08%
Tesco                5.15%/ 5.03%

Vicky, as myself, requires the monthly interest to be paid out to an external account - I am not familiar with some of those, but know that Hodge and Principality at least don't.  

Hodge Bank state  

• Opt to have interest paid annually or monthly, into either your savings account or your nominated bank account

I was about to reply to @JGB1955 too - I've just been checking Hodge and that comment has changed since I made my notes and that appears to be new, but the details are woolly in how it's worded - it doesn't mention paying monthly interest away in the details before applying.  I went through the process of starting to apply so that I could see the T&C document and it does say in there that it can be paid into your nominated account:  "Interest may be paid annually or monthly for fixed rate periods of over 12 months. If a preference is not indicated on the application form then interest will be paid on maturity/ annually, whichever is sooner. Interest may be credited to your account or to the bank account from which the deposit was originally made, subject to the Terms applying to the receiving account."