The Top Fixed Interest Savings Discussion Area

EthicsGradient

I don't see how compounding enters into it. It's a one year product, and there's no indication anywhere that interest is added in any form of accounting other than at maturity after the year. The information sheet you get when logged into Raisin (I'm already a customer) says "4.55% Gross/AER" (and also "The estimated balance after 12 months on a deposit of £1,000 is £1,045.50."), and the page you link to says "4.70% AER / Gross". It's just a question of which one to trust. Since they're advertising the 4.7% a lot, I guess we can force them to honour that, even if they really want it to be just 4.55%.

masonic

I'd guess there has been a rate increase and the paperwork has not been updated.

EthicsGradient

masonic said:

I'd guess there has been a rate increase and the paperwork has not been updated.

That was my initial guess, though the 25th March date would imply that the 4.55% rate lasted very little time (or they'd updated the information sheet for some other reason, and then later increased the rate).

I've applied for it, anyway, and the dashboard is showing the 4.7% figure.

Kim_13

StayinAlive said:

Family Building Society 1 year Bond @ 4.57% AER.

Anyone opened an a/c with them recently and could share experience? Time taken, id proof, postage required etc.

I opened a Market Tracker ISA last tax year and wasn't asked for anything (although I opened by cheque having had an application pack sent out (prepaid envelope included if I recall correctly) after my online application got stuck. Had it all up and running within a week or so.

More recently opened the non-ISA version and was only asked for proof of nominated account (they will accept a PDF uploaded via their website, and I didn't need to be logged in to do this.) This was a Chase account; unsure if they would require anything for a high street current account.

s71hj

EthicsGradient said:

I don't see how compounding enters into it. It's a one year product, and there's no indication anywhere that interest is added in any form of accounting other than at maturity after the year. The information sheet you get when logged into Raisin (I'm already a customer) says "4.55% Gross/AER" (and also "The estimated balance after 12 months on a deposit of £1,000 is £1,045.50."), and the page you link to says "4.70% AER / Gross". It's just a question of which one to trust. Since they're advertising the 4.7% a lot, I guess we can force them to honour that, even if they really want it to be just 4.55%.

Is there any pay in window after opening or does it need to be funded straight away?

secretwookie3

Another 4.65% 1 year option. LHV Bank. App based. 

soulsaver

secretwookie3 said:

Another 4.65% 1 year option. LHV Bank. App based. 

Savings · Personal · LHV Bank

janusdesign

just a heads up that Zopa have updated their terms today and will shortly be offering fixed rate pots in their Smart Saver product...

Introducing Fixed Term pots

We’re planning to introduce new Fixed Term pots into our app as part of your Smart Saver. These will work differently to Access and Boosted pots, letting you lock your money away for 1 to 5 years and earn a fixed interest rate. We’ve added all the details to the Smart Saver terms.

slinger2

janusdesign said:

just a heads up that Zopa have updated their terms today and will shortly be offering fixed rate pots in their Smart Saver product...

Introducing Fixed Term pots

We’re planning to introduce new Fixed Term pots into our app as part of your Smart Saver. These will work differently to Access and Boosted pots, letting you lock your money away for 1 to 5 years and earn a fixed interest rate. We’ve added all the details to the Smart Saver terms.

Yes. It's been a bit of an oddity that they've been offering fixed rate ISAs for a while, but not similar non-ISAs.

StayinAlive

Close Brothers.

Can someone confirm whether account opening/management can all be done via Website/Online Banking, (i.e. without any app involvement)?