The Top Fixed Interest Savings Discussion Area

Notepad_Phil

Yorkie1 said:

refluxer said:

dcs34 said:

ColdIron said:

NS&I reducing 1 year GGBs and GIBs from today

• 1-year British Savings Bonds (Guaranteed Growth) 4.04% gross/AER
• 1-year British Savings Bonds (Guaranteed Income) 3.97% gross/4.04% AER

https://nsandi-corporate.com/news-research/news/new-issues-nsis-1-year-fixed-term-bonds

I struggle to see the point of these when the current 1-year fix rate is a fair few bps above their rate, and it's not like its exempt from income tax like PBs.

I agree - I'm withdrawing my GGB that's about to mature and saving elsewhere this time but, for more cautious savers, the recently-offered 4.18% 1 year renewal rate is still better than anything you can get with the 'big names' on the high-street and even the current 4.04% offer puts it in the same ball-park as places like the Coop and some other (but localised) high-street building societies.

I have the same dilemma re. the GGBs (decision to be made tomorrow). 

As you say, the guaranteed 4.18% renewal rate is better than some around, but I can see for example the 4.5% 1 year and 4.4% 2 year fixes from Chetwood bank, which are obviously both higher.

Chetwood has FSCS protection; it's just a question of the crystal ball as to what interest rates are likely to be in a year's time! (Also, interest is added on each anniversary for the 2 year, so I assume it would be credited for tthe purposes of income tax calculations in that tax year even if not accessible ... ) 

Not sure what you mean by "in that tax year", but my understanding is that if the interest is not accessible then officially the total interest across both years would be taxable in the tax-year of the account's maturity. However many providers would still report the interest on an annual basis, so anyone not on self-assessment would likely find (unless they informed the hmrc) that the first year's interest was being taxed in tax-year 1 and the second year's interest was then taxed in tax-year 2.

poseidon1

Tandem Bank ( derived from acquisition of Harrods Bank), currently offering 1 year fix deposit at 4.37%.

https://www.tandem.co.uk/save

soulsaver

Reminder:

Note not much time to get it done, as its been running for nearly a month. 

Raisin £100 bonus for new customers opening a FTB with £10k min by COP today (30/09).

4.30% ish available from a choice of sources - so up to 5.33% in effect with the bonus on £10k. 

Receive a £100 bonus when you open a fixed rate bond with Raisin | Raisin

If you get trouble with the promo code, contact their CS:

Dear SoulSaver,
 
Thank you for your call.
 
We understand that you were unable to apply the required promo code during your registration. At this time, our records indicate that you have not yet met all the necessary conditions to qualify for the bonus*.

In order to be eligible for the bonus, you must open a savings account with a minimum deposit of £10,000 before 02/10 over a minimum period of 12 months.
 
Once you have met these conditions, please contact us 14 days after your deposit opens, and we will ensure that the bonus is applied to your account.
 
If you have any further questions, please get in touch.

Kind regards,
The Raisin UK Customer Service Team


*No, 'cos I'm not paying until I get confirmation I'm getting the £100 for doing so... Now I've got it, and a bit of leeway, it's funded.

allegro120

OakNorth is offering 12 months fixed at 4.45% https://oaknorth.co.uk/personal-savings/fixed-term/

Rheumatoid

Marcus 4.55% one year fix available 

jaypers

Rheumatoid said:

Marcus 4.55% one year fix available 

And what’s really interesting……….”you can’t make withdrawals but you can ask us to close your account early at any time. There is an early closure fee. If you close your account within the first 90 days, the fee will be equal to the interest you’ve earned so far. If you close your account after that point, the fee will be equal to the interest you earned during those first 90 days.”

Sea_Shell

Rheumatoid said:

Marcus 4.55% one year fix available 

It seems you can only have one of these held in sole name.   But you can also hold one jointly.

I opened one at the start of July 25, at the same rate, but can't have another.  

SickGroove

Sea_Shell said:

Rheumatoid said:

Marcus 4.55% one year fix available 

It seems you can only have one of these held in sole name.   But you can also hold one jointly.

I opened one at the start of July 25, at the same rate, but can't have another.  

How long did the one in July last for, as I need to wait until early November to open it as I've a fix elsewhere maturing in mid November?

Also, can interest be paid away monthly?

jak22

A quick check of the product page shows it's interest paid at maturity and there's a 14 day funding window. Atom might be a choice for monthly interest.

Sea_Shell

SickGroove said:

Sea_Shell said:

Rheumatoid said:

Marcus 4.55% one year fix available 

It seems you can only have one of these held in sole name.   But you can also hold one jointly.

I opened one at the start of July 25, at the same rate, but can't have another.  

How long did the one in July last for, as I need to wait until early November to open it as I've a fix elsewhere maturing in mid November?

Also, can interest be paid away monthly?

I can't remember exactly, but I don't think it was around for long, and got pulled pretty quickly.   Maybe have a look back through this thread and see when the previous one was launched.*

TBH, I wouldn't count on it still being available by early November. 

I can't remember if there was an option, on application, to have the interest paid away monthly.   If there was, I didn't tick it, and no interest is showing as being added.  


*ETA - https://forums.moneysavingexpert.com/discussion/comment/81517908/#Comment_81517908
Was launched end of June - But no mention of when it went NLA