We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Top Fixed Interest Savings Discussion Area

16465676970399

Comments

  • So I have a large chunk of money in an easy access account which I want to move into 1 year fixed accounts. Is the best strategy to divide it into say 8 equal pots and open the highest rate fixed saver available each month for 8 months? Or maybe I should spread it over 12 months but that means some of it will sit in the easy access account for quite a while. I have an emergency fund, money put aside for an ISA and want to save not invest.
  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    You could move some of your money into Notice accounts whilst you are building your 1 year fixed accounts ladder. There’s a separate thread about these accounts, and you can find the latest rates on  https://moneyfacts.co.uk/savings-accounts/best-notice-accounts/
  • Daliah said:
    You could move some of your money into Notice accounts whilst you are building your 1 year fixed accounts ladder. There’s a separate thread about these accounts, and you can find the latest rates on  https://moneyfacts.co.uk/savings-accounts/best-notice-accounts/
    Good idea thanks. This made me consider a 6 month fix for a chunk of it so I have opened a 6 month fix with Atom at 2.65% which beats the notice accounts at the moment. I can then look at an ISA and other fixed rate savings for each of us at that point. So the savings ladder is a good idea in principle? And yes I am aware of the effect of inflation but investing doesn’t suit for a number of reasons so I will have to take the hit.
  • MrPG
    MrPG Posts: 11 Forumite
    10 Posts
    UTB 15 month bond at 4.25% - 14 days to fund so I'll see how they perform getting their online offer sorted. 
    I was looking for an 18 month so this is attractive to me.
  • TomDolan
    TomDolan Posts: 78 Forumite
    Fourth Anniversary 10 Posts
    Investec have a new fixed rate, 4.15% AER One Year Fixed Rate Saver @ Investec - Min Deposit £5000





  • refluxer
    refluxer Posts: 3,253 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 4 October 2022 at 10:11AM
    Secure Trust Bank now @ 4.2% for 1 Year (maturity is 9th Nov 2023 so it's just over 13 months I guess) - minimum deposit is £1000 and interest is paid on 31st December and on maturity.

    https://www.securetrustbank.com/savings/fixed-rate-bonds/1-year-fixed-rate-bond
  • Atom Bank 4.11% option for interest monthly or upon maturity 
  • biscan25
    biscan25 Posts: 452 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Atom Bank 4.11% option for interest monthly or upon maturity 
    I went for this. Went for annual interest by accident :( That will cost me a bit.
    Pensions actuary, Runner, Dog parent, Homeowner
  • rl1
    rl1 Posts: 98 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    biscan25 said:
    Atom Bank 4.11% option for interest monthly or upon maturity 
    I went for this. Went for annual interest by accident :( That will cost me a bit.
    Could you please explain why it will cost you. I have never understood the difference. 
  • rl1 said:
    biscan25 said:
    Atom Bank 4.11% option for interest monthly or upon maturity 
    I went for this. Went for annual interest by accident :( That will cost me a bit.
    Could you please explain why it will cost you. I have never understood the difference. 
    Missing out of the compounded interest earned during those months.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.