The Top Fixed Interest Savings Discussion Area

jimexbox

peter021072 said:

It's the 2 year fix from Oxbury.

It might turn out to be academic as they've just messaged me back expecting me to manage the account from a smartphone which I don't have, only a old style mobile.  It seems a smartphone is an extra needless expense for a whole variety of tasks which could be just as easily managed from a PC or laptop from home. What is the obsession with tiny screens?

You only need a smartphone or tablet for two factor authentication, to log into your account. Although Oxburys ios app has access to actual accounts, not so android. 

A._Badger

peter021072 said:

It's the 2 year fix from Oxbury.

It might turn out to be academic as they've just messaged me back expecting me to manage the account from a smartphone which I don't have, only a old style mobile.  It seems a smartphone is an extra needless expense for a whole variety of tasks which could be just as easily managed from a PC or laptop from home. What is the obsession with tiny screens?

peter021072 said:

It's the 2 year fix from Oxbury.

It might turn out to be academic as they've just messaged me back expecting me to manage the account from a smartphone which I don't have, only a old style mobile.  It seems a smartphone is an extra needless expense for a whole variety of tasks which could be just as easily managed from a PC or laptop from home. What is the obsession with tiny screens?

Perhaps not the smartest move from Oxbury. I was just about about to invest with them when I noticed the need for an app. I have a smartphone but I limit the presence of apps on it because I believe the process to be insecure. I went elsewhere.

peter021072

For those who are interested:

The interest is paid annually to the Oxbury account on the date of the first deposit into the account. As such, if no funds were deposited until 6th April 2024, the interest would then be applied on 6th April 2025 and then 6th April 2026. 
 
Unfortunately, to access the Oxbury online dashboard a smart device, such as a phone or tablet is required, as the Oxbury app is used as a form of two-factor authentication. 

BooJewels

@peter021072 - have you got sorted with an alternative fix?  Ones I know of that don't need you to use an app that actually have fixes for sale at the moment are Charter Savings Bank (only 1 year), Ford Money ditto and Hodge are offering longer terms - from memory they require you to have a mobile to receive an OTP,  but I don't think it requires app use.  I think Charter are the best of those for 1 year.  There will be others of course, but they're ones I've looked at very recently as they offer monthly interest paid away which is my preference.

peter021072

BooJewels said:

@peter021072 - have you got sorted with an alternative fix?  Ones I know of that don't need you to use an app that actually have fixes for sale at the moment are Charter Savings Bank (only 1 year), Ford Money ditto and Hodge are offering longer terms - from memory they require you to have a mobile to receive an OTP,  but I don't think it requires app use.  I think Charter are the best of those for 1 year.  There will be others of course, but they're ones I've looked at very recently as they offer monthly interest paid away which is my preference.

Thanks, it would have to pay the interest in the next FY but one, so I might wait until the 6th April, it depends on the T&C.  I think Close Brothers is the best 1yr. I've got a good rate with Santander for a few months, so I'm not desperate, providing the rates are maintained.

RobinhoodSavings

Coventry are pulling their fixed bonds tonight. Expect lower rates. 

BooJewels

peter021072 said:

BooJewels said:

@peter021072 - have you got sorted with an alternative fix?  Ones I know of that don't need you to use an app that actually have fixes for sale at the moment are Charter Savings Bank (only 1 year), Ford Money ditto and Hodge are offering longer terms - from memory they require you to have a mobile to receive an OTP,  but I don't think it requires app use.  I think Charter are the best of those for 1 year.  There will be others of course, but they're ones I've looked at very recently as they offer monthly interest paid away which is my preference.

Thanks, it would have to pay the interest in the next FY but one, so I might wait until the 6th April, it depends on the T&C.  I think Close Brothers is the best 1yr. I've got a good rate with Santander for a few months, so I'm not desperate, providing the rates are maintained.

We're at the time of year where if you were to open an account now, but not fund it until later in your funding window and after 5th April, it's not likely to pay interest until the 2025 tax year.  But as rates and availability of fixes are changing frequently just now, you'll need to check the T&Cs carefully (such as when annual interest is paid and length of funding window) and watch rates regularly so that you don't miss out.  

pecunianonolet

RobinhoodSavings said:

Coventry are pulling their fixed bonds tonight. Expect lower rates. 

Current bond rates are not particularly competitive anyhow. Are ISA rates or other NLA accounts for existing customers at risk of being lowered too?

soulsaver

BooJewels said:

peter021072 said:

BooJewels said:

@peter021072 - have you got sorted with an alternative fix?  Ones I know of that don't need you to use an app that actually have fixes for sale at the moment are Charter Savings Bank (only 1 year), Ford Money ditto and Hodge are offering longer terms - from memory they require you to have a mobile to receive an OTP,  but I don't think it requires app use.  I think Charter are the best of those for 1 year.  There will be others of course, but they're ones I've looked at very recently as they offer monthly interest paid away which is my preference.

Thanks, it would have to pay the interest in the next FY but one, so I might wait until the 6th April, it depends on the T&C.  I think Close Brothers is the best 1yr. I've got a good rate with Santander for a few months, so I'm not desperate, providing the rates are maintained.

We're at the time of year where if you were to open an account now, but not fund it until later in your funding window and after 5th April, it's not likely to pay interest until the 2025 tax year.  But as rates and availability of fixes are changing frequently just now, you'll need to check the T&Cs carefully (such as when annual interest is paid and length of funding window) and watch rates regularly so that you don't miss out.  

If you open an account now and don't fund it - I can tell you now you won't receive interest until the 2025 tax year at the earliest...  without checking T&Cs..

EthicsGradient

The Oxbury 1 year fixed term account (5.26%) no longer appears on their page for non-members; and there, the 2 year rate has gone done to 5.07% (still top of MSE's 2 year list, but MoneyFactsCompare shows "iFast Global Bank" (never heard of them) at 5.10%).