The Top Fixed Interest Savings Discussion Area

Patr100

refluxer said:

Patr100 said:

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account
but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would further delay moving on to a better offer elsewhere.
Then I will be looking for the best options for monthly income from the interest.

You'd like to think that the transfer into easy access would be on the day of maturity, in which case I would imagine that you'd be able to withdraw the funds on the same day or the next day at the latest ?

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

Yes I assume I can take it out fairly quickly but Charter which is also maturing for me later the same week use the exact same software for accounts and options , but give you the added option of direct transfer to nominated account. RCI just unnecessarily add another hoop to  keep customers with them due to inertia.
I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

refluxer

Patr100 said:

refluxer said:

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

The banks on that particular list have the option to pay monthly interest away as income, just as you require. 

'No withdrawals permitted' refers to the capital - having interest paid away doesn't count as a withdrawal.

Malchester

Patr100 said:

refluxer said:

Patr100 said:

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account
but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would further delay moving on to a better offer elsewhere.
Then I will be looking for the best options for monthly income from the interest.

You'd like to think that the transfer into easy access would be on the day of maturity, in which case I would imagine that you'd be able to withdraw the funds on the same day or the next day at the latest ?

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

Yes I assume I can take it out fairly quickly but Charter which is also maturing for me later the same week use the exact same software for accounts and options , but give you the added option of direct transfer to nominated account. RCI just unnecessarily add another hoop to  keep customers with them due to inertia.
I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

Moneyfactscompare is a far better comparison site (in my opinion) giving you are whole list of available accounts for each fixed term (rather than just one), with a number of search options for each one. 

Patr100

refluxer said:

Patr100 said:

refluxer said:

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

The banks on that particular list have the option to pay monthly interest away as income, just as you require. 

'No withdrawals permitted' refers to the capital - having interest paid away doesn't count as a withdrawal.

The list  has changed slightly since posting but yes you are right if you dig into the terms and conditions. I also missed that detail on the ATOM app which I already have from previous accounts with them.

Patr100

Malchester said:

Patr100 said:

refluxer said:

Patr100 said:

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account
but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would further delay moving on to a better offer elsewhere.
Then I will be looking for the best options for monthly income from the interest.

You'd like to think that the transfer into easy access would be on the day of maturity, in which case I would imagine that you'd be able to withdraw the funds on the same day or the next day at the latest ?

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

Yes I assume I can take it out fairly quickly but Charter which is also maturing for me later the same week use the exact same software for accounts and options , but give you the added option of direct transfer to nominated account. RCI just unnecessarily add another hoop to  keep customers with them due to inertia.
I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

Moneyfactscompare is a far better comparison site (in my opinion) giving you are whole list of available accounts for each fixed term (rather than just one), with a number of search options for each one. 

Yes, I already have that bookmarked and often check it is more comprehensive but currently has an annoying
"Never miss the latest news

Subscribe to our Weekend Moneyfactscompare, Savers Friend and Companies Friend Newsletters" 

overlay message that wont close even when you click the cross and prevents scrolling on the page.

Rudyson

Patr100 said:

Malchester said:

Patr100 said:

refluxer said:

Patr100 said:

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account
but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would further delay moving on to a better offer elsewhere.
Then I will be looking for the best options for monthly income from the interest.

You'd like to think that the transfer into easy access would be on the day of maturity, in which case I would imagine that you'd be able to withdraw the funds on the same day or the next day at the latest ?

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

Yes I assume I can take it out fairly quickly but Charter which is also maturing for me later the same week use the exact same software for accounts and options , but give you the added option of direct transfer to nominated account. RCI just unnecessarily add another hoop to  keep customers with them due to inertia.
I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

Moneyfactscompare is a far better comparison site (in my opinion) giving you are whole list of available accounts for each fixed term (rather than just one), with a number of search options for each one. 

Yes, I already have that bookmarked and often check it is more comprehensive but currently has an annoying
"Never miss the latest news

Subscribe to our Weekend Moneyfactscompare, Savers Friend and Companies Friend Newsletters" 

overlay message that wont close even when you click the cross and prevents scrolling on the page.

Irritating indeed, but refreshing the page gets rid of it

Patr100

Rudyson said:

Patr100 said:

Malchester said:

Patr100 said:

refluxer said:

Patr100 said:

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account
but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would further delay moving on to a better offer elsewhere.
Then I will be looking for the best options for monthly income from the interest.

You'd like to think that the transfer into easy access would be on the day of maturity, in which case I would imagine that you'd be able to withdraw the funds on the same day or the next day at the latest ?

Savings Champion have a handy list of the best 1-5 year fixed rate monthly income accounts here : https://savingschampion.co.uk/best-buys/personal/monthly-income-accounts

Yes I assume I can take it out fairly quickly but Charter which is also maturing for me later the same week use the exact same software for accounts and options , but give you the added option of direct transfer to nominated account. RCI just unnecessarily add another hoop to  keep customers with them due to inertia.
I have also seen the Saving Champ lists already but monthly interest is little use if cannot be paid out as income to spend which is what I am looking for , and their current top 5 list does not allow this so they are only monthly income  for tax purposes.
All are "No withdrawals permitted"

Moneyfactscompare is a far better comparison site (in my opinion) giving you are whole list of available accounts for each fixed term (rather than just one), with a number of search options for each one. 

Yes, I already have that bookmarked and often check it is more comprehensive but currently has an annoying
"Never miss the latest news

Subscribe to our Weekend Moneyfactscompare, Savers Friend and Companies Friend Newsletters" 

overlay message that wont close even when you click the cross and prevents scrolling on the page.

Irritating indeed, but refreshing the page gets rid of it

But then it soon comes back on the same page.

GlasgowExpat2

I’m looking to invest in the SmartSave 2 Year Fixed Rate Saver. It says “Interest is added to your savings balance the day after your fixed term ends or for multi-year accounts, the day after each year of your fixed term and compounds yearly.”  Does this mean any tax on the interest only becomes payable at maturity?

EthicsGradient

Since it is not accessible to the account holder (ie we can't use it to pay tax) until maturity, that is my understanding - I have a 3 year SmartSave account, and didn't declare its interest in its 1st year, but will declare it all in the 3rd.

intalex

A few rates edged up slightly, something happening to drive this?