The Top Fixed Interest Savings Discussion Area

ZeroSum

Pompeydave1967 said:

intalex said:

Atom launched new fixed rates this morning, though left the instant access rate untouched...

Better late than nothing but will be left behind again when rates increase tomorrow .

Banks know the rate is going up & is already priced into their rates.

ZeroSum

alternate said:

I broadly agree with the philosophy of "dont keep holding out for rate rises as you are missing current returns", but with the next meeting tomorrow I would wait the extra day.

Banks don't work on BoE announcements, they work on the market projections. If the markets think the rate is increasing before it actually does, then savings rates increase before the announcement is made

alternate

steveksullivan said:

alternate said:

I broadly agree with the philosophy of "dont keep holding out for rate rises as you are missing current returns", but with the next meeting tomorrow I would wait the extra day.

Except it won't be just one day ..... not many rates increased day one last time and rates have been moving for the whole six weeks since ....  I still dont know which rates rise as a reaction to any rate rises and how much of any forecast rate rise is already priced in ..... i.e. are the rates rising (literally) today 'late', or speculation on what will happen tomorrow?

 I have been sitting on money that matured around the time of the last rate rise and still dont know when to jump !!

I think I'm just going to have to pick a date in about a fortnight and commit to it .....

Interested to know what others are doing though....???

True but you will at least know the direction of travel.  If it is a small increase then it is likely priced in to current rates.  If it is a big jump though ...

kaMelo

Don't think of it as all or nothing,  put a little in multiple accounts. As someone said earlier, the difference  between easy access is the important rate. By keep holding out for increases you are losing in the meantime.

From November I've got fixed accounts maturing every month, whilst the one maturing in November is less than easy access rate @2%, it will have been more than that for the majority of it's time, same for Dec, Jan etc.

Think of it as an average across the account length,  whilst the rate may be less than the top fixed rate today they will all beat what return you would have received by waiting for increases and leaving the money in an easy access.

Patr100

Oxbury Bank tries feebly to get ahead of the pack just before the BoE announcement
with 3.48%
min £1000

EthicsGradient

United Trust Bank are offering 3.6% on a 15 month fixed term deal, minimum £5,000. Via the Moneyfacts site, which can be good for finding the less usual terms.

intalex

intalex said:

Atom launched new fixed rates this morning, though left the instant access rate untouched...

Atom 2-year fix upped to 4% AER (3.93% Gross for the monthly) - only the 2-year term

Frequentlyhere

intalex said:

intalex said:

Atom launched new fixed rates this morning, though left the instant access rate untouched...

Atom 2-year fix upped to 4% AER (3.93% Gross for the monthly) - only the 2-year term

You just have to step back and shake your head sometimes. almost unimaginable levels from just a little while ago. I'm looking at my chunky zopa 1.35% 1-year fix not maturing until January and grimacing a little!

janusdesign

Frequentlyhere said:

intalex said:

intalex said:

Atom launched new fixed rates this morning, though left the instant access rate untouched...

Atom 2-year fix upped to 4% AER (3.93% Gross for the monthly) - only the 2-year term

You just have to step back and shake your head sometimes. almost unimaginable levels from just a little while ago. I'm looking at my chunky zopa 1.35% 1-year fix not maturing until January and grimacing a little!

if it makes you feel any better, i'm looking at my Oaknorth account @ 1.25% not maturing until August next year... grimace is a good word!

Thumbs_Up

janusdesign said:

Frequentlyhere said:

intalex said:

intalex said:

Atom launched new fixed rates this morning, though left the instant access rate untouched...

Atom 2-year fix upped to 4% AER (3.93% Gross for the monthly) - only the 2-year term

You just have to step back and shake your head sometimes. almost unimaginable levels from just a little while ago. I'm looking at my chunky zopa 1.35% 1-year fix not maturing until January and grimacing a little!

if it makes you feel any better, i'm looking at my Oaknorth account @ 1.25% not maturing until August next year... grimace is a good word!

I thought you was one of the savvy one’s on here...Gulp.