The Top Fixed Interest Savings Discussion Area

Middle_of_the_Road

Bexx9 said:

I've just signed up with Raisin with the intention of applying to GB Bank for 1 year at 5.26%, going through the process at the deposit page it says "Deposit amount. Please note, no further top-ups are permitted on fixed rate bonds once the account has been funded"

I take that to mean whatever I deposit at that time, is it. I can't add more, even immediately after?

If so, that's a shame, as I'd like to add 25k but my account max transfer is 20k. Better than nothing but I'd like to add the full amount.

Are you referring to your bank's maximum daily faster payment? 
You can top up the raisin funding account and then fund the bond.

After you’ve applied, if you haven’t already done so, transfer the amount that you want to open your selected savings account with into your Raisin UK Account.

When the amount that you want to deposit is available in your Raisin UK Account, your application will automatically be sent to the partner bank for review. We’ll contact you once the partner bank has reviewed your application.

Bexx9

Middle_of_the_Road said:

Bexx9 said:

I've just signed up with Raisin with the intention of applying to GB Bank for 1 year at 5.26%, going through the process at the deposit page it says "Deposit amount. Please note, no further top-ups are permitted on fixed rate bonds once the account has been funded"

I take that to mean whatever I deposit at that time, is it. I can't add more, even immediately after?

If so, that's a shame, as I'd like to add 25k but my account max transfer is 20k. Better than nothing but I'd like to add the full amount.

Are you referring to your bank's maximum daily faster payment? 
You can top up the raisin funding account and then fund the bond.

After you’ve applied, if you haven’t already done so, transfer the amount that you want to open your selected savings account with into your Raisin UK Account.

When the amount that you want to deposit is available in your Raisin UK Account, your application will automatically be sent to the partner bank for review. We’ll contact you once the partner bank has reviewed your application.

Yeah the daily limit from my main bank. Oh so I can transfer 20k one day and then 5k the next to Raisin, then make the application? Or if I wanted to, I could say I wanted to open the application with 25k and it wouldn't send the application until there was 25k in Raisin?

I kind of wanted to apply with 1k just incase anything bad happened and then put more in but it is what it is

subjecttocontract

The way it works with Raisin is that you would apply to open a GBBank 1 year account and pledge to deposit £25K. You can pay that £25K into your holding account in as many bits as you like. Raisin won't transfer your deposits to GBBank until the full £25K has arrived in your holding account.

Sea_Shell

subjecttocontract said:

The way it works with Raisin is that you would apply to open a GBBank 1 year account and pledge to deposit £25K. You can pay that £25K into your holding account in as many bits as you like. Raisin won't transfer your deposits to GBBank until the full £25K has arrived in your holding account.

I was just going to say the same.     Also, be aware that your money doesn't earn any interest whilst being held in your holding account.    And there is usually a timeframe of 30-60 days to make enough deposits to cover the 'pledge' before they will cancel your application.    If the account is pulled or the rate dropped, that window may close earlier.  

fonesaver

Middle_of_the_Road said:

Skipton BS.
1 year fixed rate membership bond. 5%

Opened this account and funded with the minimum £500.  As the last date for deposits is 07/08, was wondering if anyone who opened the account is considering adding further funds. 

If the BOE cut the base rate next week, the account would probably beat the top easy access rates, which no doubt will be reduced.

I did the same but it has now been bettered by the Progressive BS online 1 yr bond @5.2%

mebu60

fonesaver said:

Middle_of_the_Road said:

Skipton BS.
1 year fixed rate membership bond. 5%

Opened this account and funded with the minimum £500.  As the last date for deposits is 07/08, was wondering if anyone who opened the account is considering adding further funds. 

If the BOE cut the base rate next week, the account would probably beat the top easy access rates, which no doubt will be reduced.

I did the same but it has now been bettered by the Progressive BS online 1 yr bond @5.2%

How long do you get to fund the Progressive bond? I have two fixed bonds elsewhere maturing late August. May have to move some EA funds in advance. 

mebu60

mebu60 said:

fonesaver said:

Middle_of_the_Road said:

Skipton BS.
1 year fixed rate membership bond. 5%

Opened this account and funded with the minimum £500.  As the last date for deposits is 07/08, was wondering if anyone who opened the account is considering adding further funds. 

If the BOE cut the base rate next week, the account would probably beat the top easy access rates, which no doubt will be reduced.

I did the same but it has now been bettered by the Progressive BS online 1 yr bond @5.2%

How long do you get to fund the Progressive bond? I have two fixed bonds elsewhere maturing late August. May have to move some EA funds in advance. 

14 days in answer to my own question. Not sure I can be bothered with the faff of selfies and photographic id. Might do Cynergy at 5.16% instead. Already have accounts with them inc EA from which I can transfer funds. 

kten

It's said GB bank 1yr fixed saving rate would be reduced by 2% from 2/8/2024.
Anyone heard about it? 

refluxer

kten said:

It's said GB bank 1yr fixed saving rate would be reduced by 2% from 2/8/2024.
Anyone heard about it? 

Looks like their fixed rate savings accounts are only available via Raisin at the moment and offers like that come and go, so it's not too surprising. The BoE is predicted to lower the base rate tomorrow and if that happens, it'll obviously have an effect on savings account interest rates in general.

Daz2009

Does anyone know how long they give you to fund the Rasin 1 year one ?
Can't see it in the t&c.
I have a couple of NS& I maturing early September