The Top Fixed Interest Savings Discussion Area

SeriousHoax

ToastLady said:

SeriousHoax said:

OK, thanks. I'll do that now. Will I have to fund the easy access account before I can get the 2 yeat fix.

I don't think so, but there is no harm in funding it with £1.

Well, that was very fast. I signed up with oxbury & I've also downloaded the App + done the QR code thing on a different device. The 2-year bond is still there at 6.01%, so i got that.

ToastLady

SeriousHoax said:

ToastLady said:

SeriousHoax said:

OK, thanks. I'll do that now. Will I have to fund the easy access account before I can get the 2 yeat fix.

I don't think so, but there is no harm in funding it with £1.

Well, that was very fast. I signed up with oxbury & I've also downloaded the App + done the QR code thing on a different device. The 2-year bond is still there at 6.01%, so i got that.

Excellent, glad you are sorted. Agree with you, signing up and getting it all sorted, I found very easy and pain free. 
Handy to know that the QR code app works on another device too, so thank you for that.

happybagger

I opened a Vanquis bond a year ago, interest should have been paid out on 8th, hasn't arrived in my nominated account after close of play today 10th yet Vanquis online shows it as "paid out" on 8th. Their t&c's say normal withdrawals are by end of next working day so not sure why this wasn't in my account at the end of the 9th. A secure message today has not yet been answered.

Anyone any experience of their "interest paid out" system?

Ted_01

@ happybagger

I opened a 3 year with Vanquis at 5% a year ago, yesterday the interest arrived at my linked account. First time I've had a decent interest pay out in about 10 years.

wmb194

happybagger said:

I opened a Vanquis bond a year ago, interest should have been paid out on 8th, hasn't arrived in my nominated account after close of play today 10th yet Vanquis online shows it as "paid out" on 8th. Their t&c's say normal withdrawals are by end of next working day so not sure why this wasn't in my account at the end of the 9th. A secure message today has not yet been answered.

Anyone any experience of their "interest paid out" system?

Bond interest from Vanquis is paid out on Bacs timescales but this month there's been a +1 day to this* so expect to see it in your account on Monday.

*I have a few savings bonds with that are paying out monthly.

refluxer

Thanks to those involved in the heads-up and discussion about the Oxbury bonds still being available to existing customers - I'd been thinking about opening a 90-day notice account soon anyway, so that gave me the incentive to open one with Oxbury and grab their 1 and 2 year 6.01% bonds as well.

Yesterday was the first time I'd checked the current state of play with fixed rate bonds and I was shocked to see just how many banks had dropped their rates this week - I currently have easy access accounts paying more than some big name (and normally competitive) banks like Shawbrook are offering for their 1 year bonds, which must surely be a sign of the way they think things are heading.

SickGroove

So, in the current climate, would you fix for 1, 2 or 3 years?

fuzzzzy

Does Oxbury allow you to pay the interest away annually on the 2 year fix?

refluxer

fuzzzzy said:

Does Oxbury allow you to pay the interest away annually on the 2 year fix?

The T&Cs for the 2 year bond state that 'interest will be paid annually with reference to the date of receipt of your first deposit and credited to your savings account' so it doesn't look like having it paid away is an option.

refluxer

SickGroove said:

So, in the current climate, would you fix for 1, 2 or 3 years?

I've always adopted a 'savings ladder'-type of approach to my cash savings and prefer not to have all my eggs in one basket so, in the last few months, I've taken out different fixed rate accounts for all of those durations in an attempt to cover all bases and scenarios as best as I can.