The Top Fixed Interest Savings Discussion Area

RG2015

janusdesign said:

it seems the 3.5% 1-Yr fix via Raisin has been withdrawn.

Probably the first of many rate reductions. Banks were expecting the BoE to continue increasing the base rate significantly.

Even worse they actually believed Liz Truss’s campaigning rhetoric!

refluxer

RG2015 said:

janusdesign said:

it seems the 3.5% 1-Yr fix via Raisin has been withdrawn.

Probably the first of many rate reductions. Banks were expecting the BoE to continue increasing the base rate significantly.

The BoE's chief economist thinks that interest rate rises won't necessarily be reducing...

From https://www.telegraph.co.uk/business/2022/09/07/ftse-100-markets-live-news-energy-cost-living-boe/

Liz Truss’s plan to freeze energy bills is unlikely to prevent further interest rate rises, the Bank of England has warned.

Huw Pill, the Bank’s chief economist, said an outright price cap – one that didn’t involve direct payments to households – would help to reduce headline inflation.

But he warned this would be partially offset by higher spending by Britons with more money in their pockets.

Appearing in front of MPs this morning, Mr Pill was reluctant to speculate on whether inflation will still peak at its current forecast of 13.3pc next month.

However, he said the mooted energy support measures didn’t necessarily mean policymakers will hold off raising interest rates further from their current level of 1.75pc.

The Bank’s Monetary Policy Committee will decide on the path for interest rates at its meeting next week.

RG2015

refluxer said:

RG2015 said:

janusdesign said:

it seems the 3.5% 1-Yr fix via Raisin has been withdrawn.

Probably the first of many rate reductions. Banks were expecting the BoE to continue increasing the base rate significantly.

The BoE's chief economist thinks that interest rate rises won't necessarily be reducing...

It's not so much what the BoE thinks, rather what the markets and banks think.

If I was setting 1 to 5 year fixed rates I would be spooked by the new UK Government's possible policy decisions (and possible subsequent U-turns)

cloud_dog

Hal17 said:

Can I ask if anyone has recently opened the Shawbrook Fixed One Year Bond. It states a minimum contribution is £1,000 but it looks like you are only able to make one contribution. So it seems whatever sum you want to invest has to be transferred as a single contribution. Appreciate any help. Tried calling Shawbrook but long waiting time.

Shawbrook are quite good in this regard.  You can make a £1 test payment, and you can make as many contributions as you wish, whilst you are able to.  In fact (and this was confirmed a few pages ago), even after Shawbrook withdraw a fixed rate offer, an existing FR holder has another 7 days to add further funds (should they wish to).

ranciduk

Hal17 said:

Thank you all for your prompt replies - appreciate the feedback. 

In wouldn’t hang about!

shawbrook withdraw their issues on a seemingly daily basis

Get that dosh in your account quick before they take it down!

Hal17

Thanks to everyone who replied to my Shawbrook question.

Good call Ranciduk, I have opened two accounts and transferred some opening balances. Thanks for the nudge.

RG2015

Virgin Money 1 Year Fixed Rate E-Bond Issue 495 maturing 20 Sept 2023, min deposit £1, 3.32% AER.

As per Moneyfacts and Virgin Money website. This is on the original VM savings online platform not the new current account / linked account online and app.

Patr100

Bank of London and The Middle East 1 year now at 3.40%
(expected rate (sharia account)  - min £1000)
Apparently you open this one online but have to manage by post?
So not great in my opinion. Why at this point in the 21st century
do they have these archaic accounts?


A few slightly higher rates were suddenly dropped - remains to be seen how energy price cuts will affect inflation rate and long term estimates for annual rates.

Bigwheels1111

Blme now at 3.75%  for 5 or 7 years.

https://www.blme.com/products-and-services/savings/premier-deposit-account/?profitRateId=78e3eb88-882f-ed11-943a-005056011659

Patr100

LONDON, Sept 9 (Reuters) - The Bank of England on Friday postponed next week's interest rate decision following the death of Queen Elizabeth, it was rescheduling its next announcement on interest rates and other decisions until Sept. 22 from an original date of Sept 15.