The Top Fixed Interest Savings Discussion Area

PixelPound

Does it now look like these are on the way down? 

For 1yr fix it was 6.15%, seems to now be 6 with a few reducing further over the weekend.

Seems strange considering the multi year ones are holding up more and we are told at least two more BoE rises to come. 

Unclaimed0362

Not sure if this is the best thread for this but just wanted to share that there's currently available a 6-month fixed rate account matching the top rate (5.52% from Allicia Bank) but with a minimum deposit of £1000 rather than £10,000. QIB are offering 5.52% "expected profit" (Shari'a banking) on Raisin, apologies that I can't link directly this is a new account and my first time sharing.

Mr._H_2

Unclaimed0362 said:

Not sure if this is the best thread for this but just wanted to share that there's currently available a 6-month fixed rate account matching the top rate (5.52% from Allicia Bank) but with a minimum deposit of £1000 rather than £10,000. QIB are offering 5.52% "expected profit" (Shari'a banking) on Raisin, apologies that I can't link directly this is a new account and my first time sharing.

I'd say this is the perfect thread for this. Surely one of the main purposes of the thread is to provide a heads-up about new and/or overlooked accounts. It's how I grabbed a 6.15% 1 year fix just before the rates started going down.

VNX

nic_c said:

Does it now look like these are on the way down? 

For 1yr fix it was 6.15%, seems to now be 6 with a few reducing further over the weekend.

Seems strange considering the multi year ones are holding up more and we are told at least two more BoE rises to come. 

The thinking seems to be we are very near the peak now but that rates will remain high for some time hence why longer fixes are at same or similar levels to one year bonds. 

Who knows but I think longer fixes of four and five years at around 5.5/5. Should  turn out to be pretty good 

francoghezzi

VNX said:

nic_c said:

Does it now look like these are on the way down? 

For 1yr fix it was 6.15%, seems to now be 6 with a few reducing further over the weekend.

Seems strange considering the multi year ones are holding up more and we are told at least two more BoE rises to come. 

The thinking seems to be we are very near the peak now but that rates will remain high for some time hence why longer fixes are at same or similar levels to one year bonds. 

Who knows but I think longer fixes of four and five years at around 5.5/5. Should  turn out to be pretty good 

I fixed a couple of months ago with 4 and 5 year bond at around 5.75%, and I have never been happier. If you can lock money away for quite a long time that could be the right moment. Or at least this is my guess. No one has a crystal ball of course

PixelPound

francoghezzi said:

VNX said:

nic_c said:

Does it now look like these are on the way down? 

For 1yr fix it was 6.15%, seems to now be 6 with a few reducing further over the weekend.

Seems strange considering the multi year ones are holding up more and we are told at least two more BoE rises to come. 

The thinking seems to be we are very near the peak now but that rates will remain high for some time hence why longer fixes are at same or similar levels to one year bonds. 

Who knows but I think longer fixes of four and five years at around 5.5/5. Should  turn out to be pretty good 

I fixed a couple of months ago with 4 and 5 year bond at around 5.75%, and I have never been happier. If you can lock money away for quite a long time that could be the right moment. Or at least this is my guess. No one has a crystal ball of course

On the mortgage board, it's about whether rates will be down in under 2 years. 

If you can afford to, yes a longer fixed bond should most likely be good. Even if inflation takes a year or two to go sub 5%, your rate will be inflation busting at some point.

It will only be hindsight that will know whether it's good or not. 

Celtic_Supersaver

I am looking for a 1 year fix with monthly interest. You'd think Charter would be perfect but they are so slow.  Posted (nominated)  bank statement to them on Friday. They opened it yesterday, today it will go in a 5 - business days queue, Bank Holiday next Monday so not a business day. By the time they open me an account it will likely be 12/13 days since I applied.  
Anyone got any suggestions for a a similar deal without the shenanigans?

2010

Celtic_Supersaver said:

I am looking for a 1 year fix with monthly interest. You'd think Charter would be perfect but they are so slow.  Posted (nominated)  bank statement to them on Friday. They opened it yesterday, today it will go in a 5 - business days queue, Bank Holiday next Monday so not a business day. By the time they open me an account it will likely be 12/13 days since I applied.  
Anyone got any suggestions for a a similar deal without the shenanigans?

You`ll get it up and running today but the rate is 5.80%

https://www.paragonbank.co.uk/savings/one-year-fixed-rate

Silverbullet036

Celtic_Supersaver said:

I am looking for a 1 year fix with monthly interest. You'd think Charter would be perfect but they are so slow.  Posted (nominated)  bank statement to them on Friday. They opened it yesterday, today it will go in a 5 - business days queue, Bank Holiday next Monday so not a business day. By the time they open me an account it will likely be 12/13 days since I applied.  
Anyone got any suggestions for a a similar deal without the shenanigans?

I have just renewed a matured Ford Money fix @ 5.95% and they have the monthly interest option

BooJewels

@Celtic_Supersaver - Ford Money do monthly interest - 5.79% for 1 year, 5.89% for 18 months or 2 years.  But it rather depends on why Charter needed further proof - chances are that other organisations will encounter the same issue - Ford and Charter use the same IT system.  Hodge Bank also do a 1 year at 5.8% on monthly interest.  The others I know of aren't offering 1 years or are lower rates than those.