The Top Fixed Interest Savings Discussion Area

vickyholly

Ive been holding out for 4% for a 5 year fix, am i setting my sights to low? Cant even imagine 6%...

Bigwheels1111

Im with you, Looking for 4-6% 5 year fixed paid annualy.

Im holding pots in easy acces until December or January.

3 more boe rises by December look likely.

Pompeydave1967

I’m on the fence here guys , I’ve got one of my pots finishing with atom £50k in 4 weeks time . It was fixed a year ago for a whopping 1.5% (very good at the time) but unsure where to put this one .Prob into Shawbrook 1.75% easy temporarily until Atom / charter etc etc come up with a bank of India equalling rate..here’s hoping.

vickyholly

Bigwheels1111 said:

Im with you, Looking for 4-6% 5 year fixed paid annualy.

Im holding pots in easy acces until December or January.

3 more boe rises by December look likely.

The 5 year fixes dont seem to budge much at all

Pompeydave1967

Prob a 1 yr fixed for me at the moment , just don’t want to leave £50k in a Shawbrook 1.75% easy  too long if 3% are on their way (excluding bank of India).

jimexbox

Pompeydave1967 said:

I’m on the fence here guys , I’ve got one of my pots finishing with atom £50k in 4 weeks time . It was fixed a year ago for a whopping 1.5% (very good at the time) but unsure where to put this one .Prob into Shawbrook 1.75% easy temporarily until Atom / charter etc etc come up with a bank of India equalling rate..here’s hoping.

Or zopa boosted pot, 31 day notice @ 1.95%. 

Pompeydave1967

jimexbox said:

Pompeydave1967 said:

I’m on the fence here guys , I’ve got one of my pots finishing with atom £50k in 4 weeks time . It was fixed a year ago for a whopping 1.5% (very good at the time) but unsure where to put this one .Prob into Shawbrook 1.75% easy temporarily until Atom / charter etc etc come up with a bank of India equalling rate..here’s hoping.

Or zopa boosted pot, 31 day notice @ 1.95%. 

That’s definitely a possibility jimexbox , thank you 

garyelder

Little news about American inflation not going up as much as they thought 
don’t expect our interest rates to go much as everyone thinks, people just can’t afford it
petrol to come down soon this will slow inflation petrol £1.65 a litre in Epping Essex 
so don’t expect 5% on savings 
this is my guess 

Pompeydave1967

garyelder said:

Little news about American inflation not going up as much as they thought 
don’t expect our interest rates to go much as everyone thinks, people just can’t afford it
petrol to come down soon this will slow inflation petrol £1.65 a litre in Epping Essex 
so don’t expect 5% on savings 
this is my guess 

I’m starting to believe this , promised recent rate increases have somewhat fallen short and it seems maybe fixing soon is the way to go.

Rollinghome

janusdesign said:

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.

The application form is wacky enough and the FAQs bafflingly ambiguous, but I'm afraid it was that final acknowledgement email that did it for me.

The account won't be created until after they have your cleared funds, so no login till then.  They want the funds by 1.00 pm or they won't be processed until the next working day.  The rate paid will be whatever their prevailing rate is when the funds are received and cleared, but they say they won't acknowledge receipt for two working days. (Which may be if you're lucky.) They say the full amount must be paid as a single transfer.

Funds sent first thing today (Thurs) might not arrive for up to two days under Faster Payment rules, and I would expect most banks to take a close look at a substantial one-time transfer with the payee stated as "Union Premier Bond", as specified. Does such an entity exist?  So seems impossible to be sure of the rate you'll get, and I can't see anything to say the rate can be rejected once you find out.

I gave them a call to see if I could clarify anything and was only able to leave a message.  As it stands, I'm with you, and would need some firm assurances to bother with them.