The Top Fixed Interest Savings Discussion Area

Noneforit999

sparkiemalarkie said:

refluxer said:

Old_Slaphead said:

Close Bros........1 yr FR 4.25%.....

Wow, that lasted about 6 hours - now withdrawn

It's still available on HL

sx

Seems to have gone from HL again now.

ST73

changearound1 said:

According to the Nationwide website Fixed Rate Online Bonds have annual interest which 'can only be paid into the bond, not into another account.'

This is contrary to what it says on Moneyfacts and should be considered before opening an account.

Please forgive my ignorance, I’m am still new to this and looking at opening a fixed term for my savings. Why does this matter if you can withdraw it anyway after a year? 

Bigwheels1111

ST73 said:

changearound1 said:

According to the Nationwide website Fixed Rate Online Bonds have annual interest which 'can only be paid into the bond, not into another account.'

This is contrary to what it says on Moneyfacts and should be considered before opening an account.

Please forgive my ignorance, I’m am still new to this and looking at opening a fixed term for my savings. Why does this matter if you can withdraw it anyway after a year? 

Tax, Say you have 25k saved.
At 4% that would be 1k, which is tax free for most.
If it paid out after 3 year it would be just over 3k and tax on 2k, £400 tax.
Very basic workings.

If paid once a year no tax.

Daliah

ST73 said:

changearound1 said:

According to the Nationwide website Fixed Rate Online Bonds have annual interest which 'can only be paid into the bond, not into another account.'

This is contrary to what it says on Moneyfacts and should be considered before opening an account.

Please forgive my ignorance, I’m am still new to this and looking at opening a fixed term for my savings. Why does this matter if you can withdraw it anyway after a year? 

Some people might prefer monthly interest, paid into a current account, so they can spend it on a monthly basis

ST73

Bigwheels1111 said:

ST73 said:

changearound1 said:

According to the Nationwide website Fixed Rate Online Bonds have annual interest which 'can only be paid into the bond, not into another account.'

This is contrary to what it says on Moneyfacts and should be considered before opening an account.

Please forgive my ignorance, I’m am still new to this and looking at opening a fixed term for my savings. Why does this matter if you can withdraw it anyway after a year? 

Tax, Say you have 25k saved.
At 4% that would be 1k, which is tax free for most.
If it paid out after 3 year it would be just over 3k and tax on 2k, £400 tax.
Very basic workings.

If paid once a year no tax.

Aaah I see, Mr Taxman again!  Ok thank-you 

alternate

refluxer said:

Old_Slaphead said:

Close Bros........1 yr FR 4.25%.....

Wow, that lasted about 6 hours - now withdrawn

I have used Close Brothers a few times over the years (even back when they were postal only) and the issues never seem to last long.  I think they are pretty small and only raise small chunks of capital when they need it.

soulsaver

alternate said:

refluxer said:

Old_Slaphead said:

Close Bros........1 yr FR 4.25%.....

Wow, that lasted about 6 hours - now withdrawn

I have used Close Brothers a few times over the years (even back when they were postal only) and the issues never seem to last long.  I think they are pretty small and only raise small chunks of capital when they need it.

Small? Close Brothers Group plc Share Price (CBG) Ordinary 25p Shares | CBG (hl.co.uk)

alternate

soulsaver said:

alternate said:

refluxer said:

Old_Slaphead said:

Close Bros........1 yr FR 4.25%.....

Wow, that lasted about 6 hours - now withdrawn

I have used Close Brothers a few times over the years (even back when they were postal only) and the issues never seem to last long.  I think they are pretty small and only raise small chunks of capital when they need it.

Small? Close Brothers Group plc Share Price (CBG) Ordinary 25p Shares | CBG (hl.co.uk)

I was specifically referencing their retail banking arm.  Although I will admit they seem to be growing that business faster then I realized.

typistretired

Bigwheels1111 said:

ST73 said:I

changearound1 said:

According to the Nationwide website Fixed Rate Online Bonds have annual interest which 'can only be paid into the bond, not into another account.'

This is contrary to what it says on Moneyfacts and should be considered before opening an account.

Please forgive my ignorance, I’m am still new to this and looking at opening a fixed term for my savings. Why does this matter if you can withdraw it anyway after a year? 

Tax, Say you have 25k saved.
At 4% that would be 1k, which is tax free for most.
If it paid out after 3 year it would be just over 3k and tax on 2k, £400 tax.
Very basic workings.

If paid once a year no tax.

If you have a 3 year saver they usually add the interest yearly not after 3 years

ZeroSum

Opened one of Nationwides fixes last night & still not showing on my online banking. Went to report missing account & apparently new accounts can take upto 5 days. What a joke that is!!!!! Are they still using systems from the 1990's or something?