The Top Fixed Interest Savings Discussion Area

nottsphil

slinger2 said:

nottsphil said:

ranciduk said:

Halifax have upped their 5 year fix to a staggering 0.75%

If anyone is interested!

I've been reading the first couple of pages of this thread and came across this. Anybody taking this out must be in despair right now because they're not even half way through the term. It shows the folly of the five year fix because nobody knows if inflation will take off again or whether war in Europe will escalate. 

What about those that bought the 0.5% Treasury Gilt 2061. 37 more years for them.

In layman's terms, interest rates on gilts are really insignificant, unless you were buying then selling in the ultra-low interest era. It's mostly about the much greater (and tax free) capital gain you can make.

nottsphil

mebu60 said:

I 

Next week I shall open the Gatehouse 6 Month Bond at 5.25% and fund it with the amount of tax for my 23/24 interest plus 24/25 payment on account that I will have to pay by the end of January :-( 

You could be up to £92 better off in six months time by opening a Hargreaves Lansdown Active Savings account today via the link in the savings guide. You'll get £100 cashback if you choose one of their offerings instead, two of which I have pictured. You can open an account without adding any money just yet and still qualify for the offer, provided that your account is topped up at a later date within the Qualifying Period to a balance of at least £10,000 and you use this money to instruct them to add at least £10,000 to one or more savings products. Both of these actions must be taken within sixty days of opening the account in order to qualify for the offer.

Alicon88

Hi All!

I want to transfer a lump of money to a new Family Building Society 1 year fixed rate account (5.23% AER).

I am about to open the account and in the terms it specifies: 

• Automatic reinvestment on maturity

Let's say in 1 year's time on maturity I want to withdraw the money, do you know what is the process?
Does it get reinvested straight away therefore money is blocked for another year maybe with a different rate?

Sorry for the dumb question, not very expert and would like to avoid stupid mistakes.

Many thanks

Ozzig

Alicon88 said:

Hi All!

I want to transfer a lump of money to a new Family Building Society 1 year fixed rate account (5.23% AER).

I am about to open the account and in the terms it specifies: 

• Automatic reinvestment on maturity

Let's say in 1 year's time on maturity I want to withdraw the money, do you know what is the process?
Does it get reinvested straight away therefore money is blocked for another year maybe with a different rate?

Sorry for the dumb question, not very expert and would like to avoid stupid mistakes.

Many thanks

Full terms appear to be here, but sounds like you have lots of opportunity to elect what happens on maturity ...

https://cdn-webv13.familybuildingsociety.co.uk/docs/librariesprovider3/pdfs/savings/product-features-leaflets/fbs-s068-0224-fixed-rate-bond-pfl_web-final396eeee16626405d8e1cc9fc7875d8c5.pdf?sfvrsn=9648ae79_18

Alicon88

Ozzig said:

Alicon88 said:

Hi All!

I want to transfer a lump of money to a new Family Building Society 1 year fixed rate account (5.23% AER).

I am about to open the account and in the terms it specifies: 

• Automatic reinvestment on maturity

Let's say in 1 year's time on maturity I want to withdraw the money, do you know what is the process?
Does it get reinvested straight away therefore money is blocked for another year maybe with a different rate?

Sorry for the dumb question, not very expert and would like to avoid stupid mistakes.

Many thanks

Full terms appear to be here, but sounds like you have lots of opportunity to elect what happens on maturity ...

https://cdn-webv13.familybuildingsociety.co.uk/docs/librariesprovider3/pdfs/savings/product-features-leaflets/fbs-s068-0224-fixed-rate-bond-pfl_web-final396eeee16626405d8e1cc9fc7875d8c5.pdf?sfvrsn=9648ae79_18

Thank you

Silverbullet036

Got a 1 year ftd loyalty rate from Al Rayan for re-investing of 5.25% rather than the 5.2% on general offer. I will take it

ToastLady

Silverbullet036 said:

Got a 1 year ftd loyalty rate from Al Rayan for re-investing of 5.25% rather than the 5.2% on general offer. I will take it

Good to know, thank you, as I've have one maturing with them soon. It's always good to know who gives you a loyalty rate.

VNX

nottsphil said:

ranciduk said:

Halifax have upped their 5 year fix to a staggering 0.75%

If anyone is interested!

I've been reading the first couple of pages of this thread and came across this. Anybody taking this out must be in despair right now because they're not even half way through the term. It shows the folly of the five year fix because nobody knows if inflation will take off again or whether war in Europe will escalate. 

Playing the fixing game is, just that. But back then we all knew interest rates were at historic lows why anyone would have taken out a long or even medium term fix baffles me.

I’ve got a five year fix @ 5.75% I took out last year if that turns out to be beaten in the next four years or so I won’t mind as it’s still a good five year rate 

slinger2

VNX said:

nottsphil said:

ranciduk said:

Halifax have upped their 5 year fix to a staggering 0.75%

If anyone is interested!

I've been reading the first couple of pages of this thread and came across this. Anybody taking this out must be in despair right now because they're not even half way through the term. It shows the folly of the five year fix because nobody knows if inflation will take off again or whether war in Europe will escalate. 

Playing the fixing game is, just that. But back then we all knew interest rates were at historic lows why anyone would have taken out a long or even medium term fix baffles me.

I’ve got a five year fix @ 5.75% I took out last year if that turns out to be beaten in the next four years or so I won’t mind as it’s still a good five year rate 

Worth noting that one of the great advantages of a Cash ISA is that you can always get your money. There might be a penalty but even a one year penalty on a 1% fixed rate Cash ISA is only 1%, and with a switch to a 5% issue you'll get that back in no time.

Obviously Cash ISA interest rates are somewhat lower than non-ISA products so that needs to be taken into account too.

Alicon88

Anyone had experience with Family Building Society?
I opened an account this weekend and yesterday afternoon (sunday) transferred my first lump of money (20,000 the minimum required) but as for today they didn't arrive yet on the FBS account..
shall I be worried 😟?
unfortunately I was at work all day so now the help lines are close and need something to relieve my anxiety 😟😄

thank you to anyone who can help me ☺️