The Top Fixed Interest Savings Discussion Area

VNX

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 Interest may be credited to your account or to the bank account from which the deposit was originally made, subject to the Terms applying to the receiving account."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

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.

Not funded mine yet but same experience, quite happy with RCI 

vickyholly

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.

I do similar, and i am feeling the same, i was even saying this to my counsellor this morning about the guilt and emotion .  I am only having to make these bloody decisions because my husband died last year. It almost feels like dirty money. but i know this is what he and i panned for if the worst happened. ( and the worst did) so it makes me feel abit better that we made the decisions together about inheritance. but he worked in credit control and was brilliant at all this , and now its just me.trying to do the right thing. Hugs to you . 

BooJewels

vickyholly said:

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.

I do similar, and i am feeling the same, i was even saying this to my counsellor this morning about the guilt and emotion .  I am only having to make these bloody decisions because my husband died last year. It almost feels like dirty money. but i know this is what he and i panned for if the worst happened. ( and the worst did) so it makes me feel abit better that we made the decisions together about inheritance. but he worked in credit control and was brilliant at all this , and now its just me.trying to do the right thing. Hugs to you . 

Thank you.  I remembered about your husband and figured that was behind it.  I too lost mine a bit before you and several other family members since. My sister has experienced some gentle jibes at work due to coming into a bit of money, but it's nowhere near as much fun as you think it might be - or as others think it is. It comes with great responsibility and guilt too.  I hope that you and your daughter are doing okay. 

vickyholly

BooJewels said:

vickyholly said:

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.

I do similar, and i am feeling the same, i was even saying this to my counsellor this morning about the guilt and emotion .  I am only having to make these bloody decisions because my husband died last year. It almost feels like dirty money. but i know this is what he and i panned for if the worst happened. ( and the worst did) so it makes me feel abit better that we made the decisions together about inheritance. but he worked in credit control and was brilliant at all this , and now its just me.trying to do the right thing. Hugs to you . 

Thank you.  I remembered about your husband and figured that was behind it.  I too lost mine a bit before you and several other family members since. My sister has experienced some gentle jibes at work due to coming into a bit of money, but it's nowhere near as much fun as you think it might be - or as others think it is. It comes with great responsibility and guilt too.  I hope that you and your daughter are doing okay. 

BooJewels said:

vickyholly said:

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.

I do similar, and i am feeling the same, i was even saying this to my counsellor this morning about the guilt and emotion .  I am only having to make these bloody decisions because my husband died last year. It almost feels like dirty money. but i know this is what he and i panned for if the worst happened. ( and the worst did) so it makes me feel abit better that we made the decisions together about inheritance. but he worked in credit control and was brilliant at all this , and now its just me.trying to do the right thing. Hugs to you . 

Thank you.  I remembered about your husband and figured that was behind it.  I too lost mine a bit before you and several other family members since. My sister has experienced some gentle jibes at work due to coming into a bit of money, but it's nowhere near as much fun as you think it might be - or as others think it is. It comes with great responsibility and guilt too.  I hope that you and your daughter are doing okay. 

Thanks, yes i remember you from the beginning of me trying to get my head round this all last year, and appreciate your help then and now. My daughter and i are rolling along, alot better head space than a year ago. but still tough. Wouldnt wish this on anyone. never in a million years thought id be a widow in my 40s , but thats just how random and !!!!!! life can be.  Just trying to make a future now, havent been back to work yet, hoping to next year.Hope youre doing  ok too? 

vickyholly

So im thinking unless a better comes up by the end of the week think im gonna do a 5 yr fix with RCI Bank.  Seems like the best option for me, and not heard anything awful about them

TiVo_Lad

vickyholly said:

So im thinking unless a better comes up by the end of the week think im gonna do a 5 yr fix with RCI Bank.  Seems like the best option for me, and not heard anything awful about them

If you haven't already, do consider the tax implications of interest if you're looking to fix over multiple tax years.

FishInGlass

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

I opened an easy access account with them in 2015, still has about £13 in it and then a 5yr fix in 2020. No issues so far but easy access withdrawal is next working day.

Beddie

FishInGlass said:

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

I opened an easy access account with them in 2015, still has about £13 in it and then a 5yr fix in 2020. No issues so far but easy access withdrawal is next working day.

RCI seem no better or worse than many other similar banks, so I can see no reason not to use them.

BooJewels

vickyholly said:

So im thinking unless a better comes up by the end of the week think im gonna do a 5 yr fix with RCI Bank.  Seems like the best option for me, and not heard anything awful about them

Just check the terms if you need interest paid away, I've read them and it doesn't sound to me like it can be paid away, which is one of my personal criteria - but my comprehension skills seem to have deserted me today.

In respect of your other post, I'm doing okay thanks - progressively improving my DIY skills, as I have to learn how to mend things that break.  Changed my first tap washer at the weekend - tap end of it was really easy, took 3 minutes - getting the hot water back on on the boiler took 40 minutes, every tool in my tool box until I found something that worked and a pulled muscle in my arm.

bristolleedsfan

Just in case helps anyone being as not the easiest to spot - Monthly interest can be paid to a linked account  - RCI Bank

https://www.rcibank.co.uk/sites/default/files/RCI Bank Managing Your Account - 16112021_15_13.pdf