The Top Fixed Interest Savings Discussion Area

pw23

Just about to commit to a new one year fix for my remaining savings, 13 K) and can someone confirm that Smart save at 5.15% is the best rate available at  Present ?

 I have read that the rates are likely to go down further from here so want to secure one today

I thought that Al Ryan normally provide the most competitive  Rate, but currently the best one year is just 5.05%. There

ColdIron

Looks like it

https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/?quick-links-first=false

Virgin have a 1 year fix at 5.25%, better rate and no tax if you have remaining allowance

https://uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_10/

RG2015

pw23 said:

Just about to commit to a new one year fix for my remaining savings, 13 K) and can someone confirm that Smart save at 5.15% is the best rate available at  Present ?

 I have read that the rates are likely to go down further from here so want to secure one today

I thought that Al Ryan normally provide the most competitive  Rate, but currently the best one year is just 5.05%. There

If you are eligible the Virgin Money exclusive 1 year fixed ISA is paying 5.25%

https://moneyfactscompare.co.uk/isa/fixed-rate-isas/?quick-links-first=false

Frequentlyhere

What about going for a 90 day notice account?  5.5% with Vanquis.

On the plus side less tie in and a higher rate. On the downside it is variable.

auser99

Frequentlyhere said:

What about going for a 90 day notice account?  5.5% with Vanquis.

On the plus side less tie in and a higher rate. On the downside it is variable.

Forgive me a quick post without time to research it, but does the 5.5% rate give you 90 days before they change the rate?
Is that standard with these sort of accounts, or can you be locked in for 90 days, when they change it day 1?

soulsaver

auser99 said:

Frequentlyhere said:

What about going for a 90 day notice account?  5.5% with Vanquis.

On the plus side less tie in and a higher rate. On the downside it is variable.

Forgive me a quick post without time to research it, but does the 5.5% rate give you 90 days before they change the rate?
Is that standard with these sort of accounts, or can you be locked in for 90 days, when they change it day 1?

They commit to give you 30 days notice of a reduction - you appear to be committed to be locked in for another 60 days at their lower rate... discussed here

jaypers

With fixed rates generally hovering around the 5% mark at the moment (similar to EA), what are people generally doing at the moment? I’ve probably got more than I need in EA so trying to work out best way forward…….

1) Hedge my bets on Easy Access, which are sure to drop more soon.
2) Lock in a couple of Fixed deals now before they drop some more.
3) Notice Accounts, which are also likely to drop too.

I am also going to use Investment ISA for my 2024/25 allowance rather than cash this time I think.

ColdIron

With the direction of travel for rates being downward, locking in is an obvious choice, especially if you feel you have 'more than I need in EA', The risk of fixing is that rates rise, a risk that seems to be receding

mebu60

jaypers said:

With fixed rates generally hovering around the 5% mark at the moment (similar to EA), what are people generally doing at the moment? I’ve probably got more than I need in EA so trying to work out best way forward…….

1) Hedge my bets on Easy Access, which are sure to drop more soon.
2) Lock in a couple of Fixed deals now before they drop some more.
3) Notice Accounts, which are also likely to drop too.

I am also going to use Investment ISA for my 2024/25 allowance rather than cash this time I think.

I've just rolled over a maturing 1 year fix at 5.35%. Next one due April and another in May. Not rushing to fix at current rates unless and until EA rates fall. No great premium at the moment for tying up funds. Obviously fixed rates could fall alongside EA. Next BoE 21/3. Enough institutions still offering >5% EA, hope it continues.

Will probably do Cash ISA again in April. Can always transfer into S&S at a later date. 

Sea_Shell

Why don't more providers offer parallel accounts, just either ISA or non ISA?

Is it a cost to administer thing?