The Top Fixed Interest Savings Discussion Area

Bacman

With a fixed bond they state you can't get access to the funds, in the past one or two did allow a percentage but not sure if any providers do now. I'm in the same situation with one investment we made, never mind.

janusdesign

Over62 said:

The one year bond with Newcastle Building Society has now disappeared completely from their website.

I just made a further deposit into the account - the deposit appeared in the NBS account around 30 minutes after the transfer.

jimexbox

gwapenut said:

At the risk of contaminating this thread with useful information, here's a link to an account MSE News has highlighted.

Family Building Society 2-year tracker at base + 0.85%.

https://www.familybuildingsociety.co.uk/savings/bonds/product-detail/2-year-tracker-rate-bond-(11)

So strictly speaking it's as off-topic as much of the discussion, but I take the spirit of this thread to be more about guaranteed rates and/or limited or no access for a period of time and it fits here better than in the easy access thread,

That's an interesting savings option. Is 0.85% above base rates good or just okay?

jak22

I thought once it was normal for easy access to be above base rates - and maybe even above inflation - but after rates dropped so low now theyve only been increasing around the time of BoE announcements and not always by the same increase - most seem to be at or still below the current base rate.

So something tracking at 0.85% above does seem attractive.

A 1 yr fix will likely be 1.5% - 2% more above the variables but then this doesn't change so the variables will likely catch up but may not overtake by that same 2% in the year which is their attraction even when rates are rising,. 

intalex

Moneyfacts has Melton BS with 1ish and 2.5ish year bonds (specific maturity dates) with leading rates, but Melton's own website has the same products with different (lower) rates... have they come and gone, or still pending arrival??

ForumUser7

intalex said:

Moneyfacts has Melton BS with 1ish and 2.5ish year bonds (specific maturity dates) with leading rates, but Melton's own website has the same products with different (lower) rates... have they come and gone, or still pending arrival??

Likely pending arrival - this often happens with MoneyFacts, perhaps they receive some kind of private press release early. The same happened with the Cambridge BS Your Saver yesterday, and it has happened with Principality rates before too. The nice thing is it gives a little heads up if you check, so you know to check the providers website in the coming days.

intalex

Melton FDs with new rates were subsequently taken off by MoneyFacts and then restored as the branch/mail version only, so MAYBE configured for online overnight...

TheWoodler

Seems to be a mixed bag with Newcastle BS from reports above. It’s still not clear to me whether the closure of the issue or of the 14-day window has primacy.

Here’s my experience: I applied for and was accepted for the 4.1% bond, sent a test payment, and 24h later it’s bounced back into my main account. Before that I had sent a secure message to ask which was right given the payment’s non-appearance into the account (I can’t phone up) but too busy to answer, I expect. I can only conclude that even the test payment wasn’t fast enough and I’ve missed the funding window. They should make their Ts and Cs compatible though. 

2010

TheWoodler
NBS 4.1% was there a min amount deposit.
A test payment might have been too low.

kaMelo

TheWoodler said:

Seems to be a mixed bag with Newcastle BS from reports above. It’s still not clear to me whether the closure of the issue or of the 14-day window has primacy.

Here’s my experience: I applied for and was accepted for the 4.1% bond, sent a test payment, and 24h later it’s bounced back into my main account. Before that I had sent a secure message to ask which was right given the payment’s non-appearance into the account (I can’t phone up) but too busy to answer, I expect. I can only conclude that even the test payment wasn’t fast enough and I’ve missed the funding window. They should make their Ts and Cs compatible though. 

How much was your test payment? 
Reading the terms the minimum deposit required is £500, but, a little later on it confuses things by stating;
"A “Deposit” is defined as a minimum investment of £1."    
As clear as mud then.

Unusually there is no 14 day window to deposit into the account after it's been withdrawn, essentially the terms state once it's a closed issue no further deposits are possible.