The Top Fixed Interest Savings Discussion Area

RG2015

janusdesign said:

Union Bank of India (UK) Ltd Fixed Rate Deposit 1-Yr fix @ 3.20%... quaintly old-fashioned in that you need to open the account in branch or by post.

Can be opened online.

ranciduk

Shawbrook have increased most of theirs

2 year now 3.12%

janusdesign

RG2015 said:

janusdesign said:

Union Bank of India (UK) Ltd Fixed Rate Deposit 1-Yr fix @ 3.20%... quaintly old-fashioned in that you need to open the account in branch or by post.

Can be opened online.

not to be a pedant, but I don't think the Fixed Rate deposit (the one I mentioned) can be - although the similar Premier bond can be opened online, and the only difference I can see between the two accounts are the deposit ranges (£1k to £1m for the deposit a/c; £5k to £340k for the premium bond - interest rate is the same on both at 3.2%).

https://www.unionpremierbond.unionbankofindiauk.co.uk/

the online process seems straightforward - they ask for photo ID, but I don't think you need to send them a photo, you can manually enter the passport (or I assume driving license) details (bottom two lines and issue/expiry details with regards to a uk passport).

note that you can't do a test payment - "Please make one remittance against one application. We will not accept multiple remittances against one application or one remittance against multiple applications.".

also, the online account is only created after you have submitted the funds.

"On receipt of clear funds we will create the Union Premier Bond and confirm the details in Email with your login credentials for login Union Premier Bond.

The Bond will start earning interest from the date of receipt of your cleared funds.

Rate of interest applicable on Bond would be the interest which will be prevailing at the time of receipt of cleared funds.

Please Note:-
1.Cutoff time for processing the application for Bond is 1.00PM  funds received after 1.00pm will be processed next working day.

2.The confirmation for the funds received shall take 2 working days.

Once again thank you for choosing Union Premier Bond.
We request you to arrange the remittance immediately. The remaining period for funding is 30 days from submission thereafter it will be cancelled. Funds received after 30 days days will not be applied to the Customer’s Bond Account and Returned.".

personally, I don't feel confident in this bank, so i'll wait for others to catch up on their rates.

WillowLea1962

Atom 1 year fix now up to 2.75% (was 2.60%) but that same rate 2.75% is also showing for 2, 3 and 5 year fixed deposits

steveksullivan

So ....was it the wrong move to wait for the BoE rate rise before fixing my matured funds? Most of the small rate rises being announced dont even match the best rate that was available BEFORE the rise ..... and the Indian banks headline rate is being reported as maybe a 'mistake'

Was the rate increase already 'priced in' before it happened  - or am I being too impatient?

......any ideas ??

ss55sss

You're being impatient.

Bigwheels1111

I would wait, until late December or January, I am.

I have 2 large pots of money stashed 1.8% and 1.74% easy access.

I know Im loosing out on a bit of interest now, But I want 5 year fixed at over 4% which after 3 more Boe rises by December should be around.

southone

Bigwheels1111 said:

I would wait, until late December or January, I am.

I have 2 large pots of money stashed 1.8% and 1.74% easy access.

I know Im loosing out on a bit of interest now, But I want 5 year fixed at over 4% which after 3 more Boe rises by December should be around.

Not too much longer to wait then Aldermore has already a 3.5% 5 year fix I am waiting for 6% LOL

Bigwheels1111

southone said:

Bigwheels1111 said:

I would wait, until late December or January, I am.

I have 2 large pots of money stashed 1.8% and 1.74% easy access.

I know Im loosing out on a bit of interest now, But I want 5 year fixed at over 4% which after 3 more Boe rises by December should be around.

Not too much longer to wait then Aldermore has already a 3.5% 5 year fix I am waiting for 6% LOL

6% would be nice, but I would have to pay some tax on that. About £600 but would be worth it.

wiseonesomeofthetime

Bigwheels1111 said:

southone said:

Bigwheels1111 said:

I would wait, until late December or January, I am.

I have 2 large pots of money stashed 1.8% and 1.74% easy access.

I know Im loosing out on a bit of interest now, But I want 5 year fixed at over 4% which after 3 more Boe rises by December should be around.

Not too much longer to wait then Aldermore has already a 3.5% 5 year fix I am waiting for 6% LOL

6% would be nice, but I would have to pay some tax on that. About £600 but would be worth it.

Would taking the interest annually, instead of on maturity, ease that burden, if available?