The Top Fixed Interest Savings Discussion Area

EthicsGradient

For those already with SmartSave: while they're not offering fixed term accounts to new customers, they are giving existing customers with maturing accounts the option of a new one, at quite reasonable rates. For 2 years, they pay 4.51%, and this is kept inside the account (there's no option to have it paid out), and so this is not taxable until maturity. This fits me very well (the best 2 year on maturity account I can find elsewhere is 4.36% at UBL).

There is, of course, the SmartSave oddity that they only allow you to have one account at a time open with them.

happybagger

@EthicsGradient Secure Trust and Vanquis both offer 4.55% on 2 years(ish)

EthicsGradient

happybagger said:

@EthicsGradient Secure Trust and Vanquis both offer 4.55% on 2 years(ish)

They do, but both appear to pay interest out yearly or monthly - which, if you've used your £1,000 or £500 allowance, may mean it gets taxed.

happybagger

If it's added into the bond rather than paid out (I checked STB and it can be compounded) then as it isn't accessible it is arguably not taxed until the bond matures

(I say arguably because it has been the subject of much debate on here but that is what the rules say)

mebu60

mebu60 said:

Kudos to Cynergy. Opened 1 year bond 10 March at 4.58%. They have emailed to say as still in funding window when there is a higher rate they are honouring that, 4.6%. Issue number jumps from 245 to 248. 

Double kudos to Cynergy, just ticked up to 4.65%, now issue 252. Sadly my funding window closes on Monday!

francoghezzi

Gatehouse

My apologies if already mentioned ... Gatehouse is offering a 4.65% fixed Woodland Saver for 1, 2, 3, 4 or 5 years. Same rate of interest (4,65%), or better 'profit' when it comes to Gatehouse, that can be added to the account yearly or monthly. There is also an option for a 18 months fixed (4.65%) and a 6 months at 4.62%. Not an expert by any means, but I think these rates are quite interesting

SickGroove

I've a maturing fixed rate bond with Charter coming up early May & already have a fixed rate bond with Gatehouse with monthly interest paid away....

I'm thinking of putting my maturing Charter funds into one of these new ones on the same basis of my current one...

I believe you have 30 days to fund once applied for & can send numerous deposits within that 30 day period...

5 year option very tempting at that rate tbh but not sure how long these rates will stick around as can't apply until around 5th April 2025 to make sure I've time to put my maturing Charter funds into it.

trickydicky14

SickGroove said:

I've a maturing fixed rate bond with Charter coming up early May & already have a fixed rate bond with Gatehouse with monthly interest paid away....

I'm thinking of putting my maturing Charter funds into one of these new ones on the same basis of my current one...

I believe you have 30 days to fund once applied for & can send numerous deposits within that 30 day period...

5 year option very tempting at that rate tbh but not sure how long these rates will stick around as can't apply until around 5th April 2025 to make sure I've time to put my maturing Charter funds into it.

If you open it and find you can't fund it they will just close it, so what have you got to loose if you open it now. If you do wait you may well loose.

EthicsGradient

Has anyone opened the QIB 1 year fixed (technically 'expected profit') account via Raisin recently? It's listed on MSE, and Moneyfacts, as 4.7%, and that's what the Raisin front page says. Go to  the product details there, and there's a link to the Product Information Sheet, dated 21.03.2025. But that says "What is the expected profit rate? 4.55% Gross/AER" (and that is a sheet specific to Raisin).

Which one is right?

Bigwheels1111

EthicsGradient said:

Has anyone opened the QIB 1 year fixed (technically 'expected profit') account via Raisin recently? It's listed on MSE, and Moneyfacts, as 4.7%, and that's what the Raisin front page says. Go to  the product details there, and there's a link to the Product Information Sheet, dated 21.03.2025. But that says "What is the expected profit rate? 4.55% Gross/AER" (and that is a sheet specific to Raisin).

Which one is right?

QIB are Ok, had 2 accounts with them in the last 3 year.

The rate will be 4.7% when its paid out at the end of the year, all to do with compounding.

https://www.raisin.co.uk/bank/qib/QIB001/?xnpe_tifc=h.xJxuQsOFENhuHDxdP.49pNbf4ra9UAbuUZOuPLbJSdxIerxIYZMDH8xeSZ4DUSxFBNhF_jhfeNbfPuxIV84zTT&utm_source=exponea&utm_medium=email&utm_campaign=20250404_cw14_uk_regs_market_leading_mk_email_b&xnpe_cmp=.eJwTUhAzWnLcddFj1rd71yx7wly-7eysiy-it_kuyl61RytN6f5Ew3PBQo-m_7npGBWhr5-Un1KpX5KYlJOqXwJhF-mXpEBEog0NYjFFkUWiDWOhSk1joWpSMsv0E7N44qNMN8QYr4zWMrxg3sDEDABrLjxH.ltsxdWrmMdcSjw

What would the estimated balance be after 12 months based on a £1000.00 deposit?

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The estimated balance after 12 months on a deposit of £1000.00 is £1,047.00. This projection is for illustrative purposes only and does not take into account individual circumstances.

Others will explain it.

If this will be your first account with Raisin, get a refer a friend bonus of £50 if you save £5000 or more.

https://www.raisin.co.uk/refer-a-friend/