The Top Fixed Interest Savings Discussion Area

Pompeydave1967

All seem to be outdoing each other by 0.01% each time

dgcymraeg

I did post a question but maybe can ask on here-which of the current banks with highest interest rates would anyone recommend for ease of opening /closing account and good customer service?

jak22

Although nothing happens quickly, I'm surprised how few have increased after the 0.5% rise - the largest jump for years and two months after the previous rise - with many of the accounts that were popular of late still below the base rate. Fixed should be around 3.2% + by now to keep a good gap above 1.8% variable. Maybe they can see another 0.5% rise coming next month and are hoping we dont notice.

refluxer

Pompeydave1967 said:

All seem to be outdoing each other by 0.01% each time

Yes - an obvious move simply designed to get to the top of the table by giving the least away possible. I'm surprised no-one has yet stuck their necks out @ 3% for a one year fix as that would be more of a headline-grabber. Ah well - only 3 more 0.01% increases to go...

janusdesign

dgcymraeg said:

I did post a question but maybe can ask on here-which of the current banks with highest interest rates would anyone recommend for ease of opening /closing account and good customer service?

personally, I like Allica's customer service (replies from a real person reading the question not just c&p a standard reply), but whether you would consider 2.88% / 3.20% to be one of the highest rates I don't know... HTB were good too, though i'm not keen on OakNorth CS.

it's a difficult one to answer, because if you open a fixed rate account, and have no issues opening it or on maturity, then you would have very limited interaction with customer services to comment on...

refluxer

dgcymraeg said:

I did post a question but maybe can ask on here-which of the current banks with highest interest rates would anyone recommend for ease of opening /closing account and good customer service?

Customer service is less important for a fixed rate account as once it's set up and funded, you won't need to look at it again until a few weeks before the fixed period is up. But, saying that, I've opened fixed rate accounts with OakNorth, Paragon, Ford Money and Atom in recent years without any problems - accounts have been easy to set up as a new customer, maturity instructions have been clear and payments have been paid out appropriately.

Patr100

First to break the 3% mark!:
Hampshire Trust Bank1 Year Bond (Issue 54) 3.01%
Min £1

Bigwheels1111

Patr100 said:

First to break the 3% mark!:
Hampshire Trust Bank1 Year Bond (Issue 54) 3.01%
Min £1

Second, India bank was 3.2% last week.

Patr100

Bigwheels1111 said:

Patr100 said:

First to break the 3% mark!:
Hampshire Trust Bank1 Year Bond (Issue 54) 3.01%
Min £1

Second, India bank was 3.2% last week.

Seems to have dropped to 2.85%
https://www.unionbankofindiauk.co.uk/personal-banking/interest-rates

https://forums.moneysavingexpert.com/discussion/6377812/union-bank-of-india-3-2-1-year-fix

janusdesign

they sent out an email yesterday....

"Dear Valued Customer,

Please note: Customers who have submitted their applications from 05.08.2022 to 11.08.2022, will receive the below set interest rates.

We kindly request those customers to transfer their funds into the Union Premium Bond at their earliest convenience.

TENURE	INTEREST RATE
1 YEAR	3.20%
2 YEARS	3.30%
3 YEARS	3.30%
4 YEARS	3.35%
5 YEARS	3.40%