The Top Fixed Interest Savings Discussion Area

slinger2

RCI Bank have pushed up their 2, 3 and 4 years fixes to 5.05%, 4.90% and 4.25%. Other rates seem unchanged. The 2-year fix at 5.05% is pretty competitive

https://www.rcibank.co.uk/support-centre/legal-centre/your-agreement

polymaff

Notepad_Phil said:

If you pay the interest away then the interest will definitely fall into the two tax years.

But if you keep it in the account, and the t&cs say that you cannot access the interest under any circumstance until the account matures, then 'officially' all the interest would fall into the 25/26 tax year, but it's likely that the HMRC won't know this as it's likely that Secure Trust will send interest details to the HMRC on the 31st December and at maturity, so in those circumstances it's likely that unless you prompt the HMRC they would count it as interest in two tax years.

A lot of use of 'likely' in the paragraph above, but that's the world we live in with fixed term accounts where you cannot access the money within and t&cs are not explicit and interest goes across multiple tax years and you are keeping the interest in the account - if you want to know definitely then I would pay the interest away.

I got a letter from NS&I today reminding me that multiple-year Guaranteed Growth Bonds pay all of the interest accumulated in the final tax year.  Might be a good policy for other institutions to make it clear.

Not that NS&I are experts - and HMRC's documentation is a mite ambiguous.

That said, my GGB is a one year bond, so the warning is not applicable ;}

FishInGlass

slinger2 said:

RCI Bank have pushed up their 2, 3 and 4 years fixes to 5.05%, 4.90% and 4.25%. Other rates seem unchanged. The 2-year fix at 5.05% is pretty competitive

https://www.rcibank.co.uk/support-centre/legal-centre/your-agreement

I thought that the 3 year at 4.90% sounded too good to be true. It seems like it has dropped to 4.70% already. Still pretty competitive though.

pokemaster

Allica Bank 12-Month Fixed Term Savings Account (Issue 60) - 5.17%

Allica Bank 6-Month Fixed Term Savings Account (Issue 29) - 5.25%

Allica Bank 18-Month Fixed Term Savings Account (Issue 11) - 4.81%

Source: Money Facts

slinger2

FishInGlass said:

slinger2 said:

RCI Bank have pushed up their 2, 3 and 4 years fixes to 5.05%, 4.90% and 4.25%. Other rates seem unchanged. The 2-year fix at 5.05% is pretty competitive

https://www.rcibank.co.uk/support-centre/legal-centre/your-agreement

I thought that the 3 year at 4.90% sounded too good to be true. It seems like it has dropped to 4.70% already. Still pretty competitive though.

Maybe a typo by me

TooOrangeyForCrows

pokemaster said:

Allica Bank 12-Month Fixed Term Savings Account (Issue 60) - 5.17%

Allica Bank 6-Month Fixed Term Savings Account (Issue 29) - 5.25%

Allica Bank 18-Month Fixed Term Savings Account (Issue 11) - 4.81%

Source: Money Facts

I was just checking here to see rates as my current fixed saver has just matured.

Just opened an Allica bank 6 month one. Though "you snooze you lose" is so true. It has already gone down to 5.18% from the homepage's 5.25% 

pokemaster

Rate:5.18% paid at £10K

AER:5.25% paid at £10K

According to Money Facts

GalacticaActual

Nationwide Building Society have today launched a Member Exclusive Online Bond* paying 5.50% AER/gross a year (fixed) for 18 months on a maximum of £10,000.

Eligibility criteria applies:

https://www.nationwide.co.uk/savings/member-exclusive-online-bond/

Edited:

* also a Branch version too.

SonOfPearl

GalacticaActual said:

Nationwide Building Society have today launched a Member Exclusive Online Bond* paying 5.50% AER/gross a year (fixed) for 18 months on a maximum of £10,000.

Eligibility criteria applies:

https://www.nationwide.co.uk/savings/member-exclusive-online-bond/

Edited:

* also a Branch version too.

I came here to say the same thing. I've already opened and funded mine in a few minutes. 

gravel_2

Might have to nab that.