The Top Fixed Interest Savings Discussion Area

BooJewels

I was logged in to Ford earlier to see if the interest amount was noted, as I expect it tomorrow - and clicked the link to open a new account and I too saw the 1 and 2 year at the lower amount and the 18 month still available at the higher rate.  I did momentarily contemplate throwing some pennies into one, but I already borrowed out of my EA funds to open a 2 year in advance of a 1 year (at 3.15%) maturing soon. 

Old_Slaphead

refluxer said:

Frequentlyhere said:

Just a random big-up to Aldermore for offering me a 3 year fix at 6.2% for a savings renewal. That's a good way to retain a customer!

That's impressive, as they've lowered their rates today. Their 3 year fixed is now 5.45% so 6.20% sounds almost too good to be true !

Re Aldermore renewal - yes it's a good deal and so's (imho) the 5 year option @ 6%. And can make additions for 14 days after maturity.

Gers

One of Ford accounts matures on 19 Oct, I've already selected the new 1 year FR saver at 6.05% as a maturity option.

Growingold

Ford 18mth FRB shown for existing customers at 6.05% NLA

refluxer

There have been quite a few fixed rate reductions since yesterday, with some banks who'd previously reduced their longer-term (3-5 year) rates now also reducing their shorter (1-2 year) term rates.

United Trust, Kent Reliance, OakNorth, Aldermore and Hodge are the ones I've spotted who've reduced the rates on some or all of their fixed rate accounts in the last 24 hours.

At the rate some are falling, it's hard to see them catching back up to the recent peaks even if there is a small base rate increase at the next BoE meeting. Of course what happens beyond that is anyone's guess, though !

Nova1307

With more deals being pulled, I'm toying with the idea of going for a 3 year fix either with Cynergy or Firstsave (both offering 5.95%). It just seems like a no brainer. I already have Vanguard ETFs and the average annual return over the last three years is something like 2.5%. With recession looking likely I'm thinking guaranteed 5.95% return is a better bet unless of course there is a stock market crash in which case that would be a good time to invest but that scenario is by no means certain. 

I already have a six month bond with Cynergy which matures in December and so the FSCS limit is a consideration there although there would only be a two month overlap and so not a huge risk.

Firstsave seem to have dreadful reviews on Trustpilot. Does anyone have any recent experience with them? 

BooJewels

I took a 2 year fix with FirstSave in June and have had absolutely no issues with them.  They use the same online system as Ford and Charter (and others) and my monthly interest is paid exactly when expected. It's early days in my relationship with them, but I took a chance when others here said they'd had good service from them. At the moment I'd have no hesitation in taking another fix with them or recommending them to family.

Nova1307

Update: Just went to apply for the 3 year fix with Firstsave and it's no longer available. Hopefully moneyfacts will update soon. Looks like it's Cynergy.  

happybagger

JN bank have 3 years at 5.97% available here

(note that interest can not be paid out annually or monthly; only added to the account annually where it is compounded)

PowerSavingMode

My RCI bond matures at the end of this month and I am thinking of renewing it into the 3-year maturity bond at 6.10% they're offering, as the rate on the website is 5.85. I take it the former is a loyalty account.