The Top Fixed Interest Savings Discussion Area

trickydicky14

1year now 3.5% via Raisin.

Millyonare

Anyone who is a brand-new customer, and has £10,000 to stash away, can today get an effective 1-year fixed rate of 4.1% with Raisin and Ahli Bank, via this MSE link.

Gotta be the best 1-year rate for some time.

Could go even higher in the coming weeks, of course, as the BoE jackup their rates.

Bigwheels1111

Now we need all the others to raise their rates to match or beat this.
Then more Boe base rate rises.

guli

Millyonare said:

Anyone who is a brand-new customer, and has £10,000 to stash away, can today get an effective 1-year fixed rate of 4.1% with Raisin and Ahli Bank, via this MSE link.

Gotta be the best 1-year rate for some time.

Could go even higher in the coming weeks, of course, as the BoE jackup their rates.

Did you mean 4.05% ?

Daliah

Bigwheels1111 said:

Now we need all the others to raise their rates to match or beat this.
Then more Boe base rate rises.

As a saver myself, I have sympathy for the desire for higher rates. But savers aren’t the only people affected by higher rates. I don’t think now is the time for raising the rates for mortgages and loans as it will literally kill people and small businesses, and drive inflation for all even more sky high.

pedrodelgado

Pompeydave1967 said:

Thumbs_Up said:

Tandem now 3.30% 1 year fix. Still not taking the bait.

What sort of rate would be right for you , I’m in a similar position , just opened a Shawbrook 1 yr fixed but also waiting for higher ones…getting itchy feet now !

It's a tricky one. Gotta weigh up how much you are losing a day or week by keeping the stash in say 1.8% easy access until you take the plunge with a 1yr fix compared to if you just put it in 3.5% now. It's £3.27/wk with a £10k amount. If you held off for a month you'd need 3.64% to equal the yearly interest of just putting it in 3.5% now. ATM if you have 1.8% easy access to hold it in it would be probably better to wait. Also take into consideration the longer you wait the later those funds will become ready for re investment. When do we think interest rates for savers will start to fall? that is the question to consider too. Rates may be falling by December 23 say , and you would have money trapped rather than have it out in September to re invest before rates drop. It's all conjecture and frankly small chips compared to inflation ,i know and i'm probably overthinking it. It's just not a nice feeling when you just lock away £10k and the next day the rates gone up by 0.2% and the week after it's gone up by 0.5% etc. I guess it's a better 'problem' to have than when we were getting 0.5% full stop. 

Frequentlyhere

Daliah said:

Bigwheels1111 said:

Now we need all the others to raise their rates to match or beat this.
Then more Boe base rate rises.

As a saver myself, I have sympathy for the desire for higher rates. But savers aren’t the only people affected by higher rates. I don’t think now is the time for raising the rates for mortgages and loans as it will literally kill people and small businesses, and drive inflation for all even more sky high.

Whilst I take your point that few want more expensive mortgages, unless you're a big fan of Erdogan-onomics it's commonly accepted that raising interest rates overall lowers inflation.

Desk

I can’t find any link or other reference to this offer of 4.5 per cent for a one year fix. Was it just a fleeting offer? 

Seems like a big outlier to the other rates, but I could imagine we’d still quickly get there if Goldman Sachs’ predictions of inflation hitting at much as 22 per cent next year have any validity.

https://www.bloomberg.com/news/articles/2022-08-30/goldman-sachs-says-uk-inflation-is-at-risk-of-topping-22

Desk

Frequentlyhere

Desk said:

I can’t find any link or other reference to this offer of 4.5 per cent for a one year fix. Was it just a fleeting offer? 

Seems like a big outlier to the other rates, but I could imagine we’d still quickly get there if Goldman Sachs’ predictions of inflation hitting at much as 22 per cent next year have any validity.

https://www.bloomberg.com/news/articles/2022-08-30/goldman-sachs-says-uk-inflation-is-at-risk-of-topping-22

Desk

It's not 4.5%, I think just stretching the idea of a cash bonus on top of an admittedly big table-topping 3.5% fix via raisin (listed just below the normal 1 year rates on that MSE page). Also not applicable if you already have had a raisin account.

I've had one previously, they were rubbish I have to say. 

Pompeydave1967

Has gone a little quiet with any decent 1 yr fixes , I have ££ to invest Friday , hoping something better by then , 3.5% would be great !