The Top Fixed Interest Savings Discussion Area

bristolleedsfan

BooJewels said:

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 Interest may be credited to your account or to the bank account from which the deposit was originally made, subject to the Terms applying to the receiving account."

https://hodgebank.co.uk/savings/personal-savings/personal-fixed-rate-account-bonds/

Scroll down the page 

SJMALBA

@BooJewels  I have a 2 year fix with Hodge, and interest is paid monthly to my nominated account.

Interestingly, given that they don't (currently) offer EA, 'money in' is instant!

From the 'Fixed Rate Savings Accounts' section in their Ts & Cs:

refluxer

Close Brothers now at 5.85% for 1, 2 and 3 years.

Minimum of £10k though and interest can only be paid away, annually.

https://www.closesavings.co.uk/personal/savings-accounts/fixed-rate-bond

LJ._2

Shedman said:

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....

It's not just disappointing, it is bonkers too because of the hassle to set up a new account when the past matured account tells the bank exactly who you are and your good history with them etc. Loyalty saves both the bank and customer a lot of hassle.

vickyholly

BooJewels said:

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."

Thanks for your help ... does anyone have any opinions on the RCI bank? BooJewels is there a reason you are not considering them?

BooJewels

vickyholly said:

BooJewels said:

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."

Thanks for your help ... does anyone have any opinions on the RCI bank? BooJewels is there a reason you are not considering them?

Don't listen to anything I say, I'm clearly an idiot.   Stuff is changing so fast that I just can't keep up with it.  I hadn't even heard of RCI bank until this morning. 

I'm not even going to fix my money now, I'm just going to spend it all on stupid stuff, it might be more fun than this stressing about every single fraction of a percent of interest.

vickyholly

BooJewels said:

vickyholly said:

BooJewels said:

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."

Thanks for your help ... does anyone have any opinions on the RCI bank? BooJewels is there a reason you are not considering them?

Don't listen to anything I say, I'm clearly an idiot.   Stuff is changing so fast that I just can't keep up with it.  I hadn't even heard of RCI bank until this morning. 

I'm not even going to fix my money now, I'm just going to spend it all on stupid stuff, it might be more fun than this stressing about every single fraction of a percent of interest.

Lol it is changing so much, i keep looking at the money saving experts savings main page, they seem to update often there. Ive never heard of RCI  either. I also opened an easy access  Kroo account the other day , because i need that too , and within an hour of doing it Chip raised their game, so i opened  CHIP account. ive not transferred any money yet . as waiting a few more days incase any better offers happen

janusd

vickyholly said:

BooJewels said:

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."

Thanks for your help ... does anyone have any opinions on the RCI bank?

I opened a notice account with them last week - was able to login as a new customer within 30 minutes and you get an email/sms when you make a deposit... their app works fine too... personally, I wouldn't have a problem taking out a fix with them.

BigBlueSky

Just opened a notice account with BLME.

Does anyone know how quickly they open the account and what they are like for same day deposits ?

BooJewels

vickyholly said:

BooJewels said:

vickyholly said:

BooJewels said:

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."

Thanks for your help ... does anyone have any opinions on the RCI bank? BooJewels is there a reason you are not considering them?

Don't listen to anything I say, I'm clearly an idiot.   Stuff is changing so fast that I just can't keep up with it.  I hadn't even heard of RCI bank until this morning. 

I'm not even going to fix my money now, I'm just going to spend it all on stupid stuff, it might be more fun than this stressing about every single fraction of a percent of interest.

Lol it is changing so much, i keep looking at the money saving experts savings main page, they seem to update often there. Ive never heard of RCI  either. I also opened an easy access  Kroo account the other day , because i need that too , and within an hour of doing it Chip raised their game, so i opened  CHIP account. ive not transferred any money yet . as waiting a few more days incase any better offers happen

I tend to choose EA accounts for organisational and other reasons above interest rate - like places I already hold accounts - home improvement stuff is one place, holiday stuff elsewhere etc.  I have a chunk to fix really, but am finding the process overwhelming at the moment - when you combine that with guilt and other raw emotions that accompany inheritance.