The Top Fixed Interest Savings Discussion Area

alternate

Charter is 5k initial deposit (no 1 pound testers) and then you can add more funds while the issue is open.  At least that is how I read it.

Daliah

EthicsGradient said:

ICICI is offering 3.35% for a 6 month bond direct from them ( https://www.icicibank.co.uk/en/personal/savings-accounts/fixed-rate-savings-account/hisave-fixed-rate-account ) (plus a 0.1% loyalty bonus for existing customers with a maturing fixed rate bond), or 3.6% for a 9 month one via Raisin. The latter appears in the Moneyfacts list (not in MSE, but MSE doesn't do 9 month as a specific length), but the former in neither. The rate was set, they say, on 3rd Oct. Minimum £1,000, and FSCS protected, so seems to beat the 6 month ones listed on MSE. Can anyone see a problem with it?

ICICI is one bank I won't go near again, whatever their interest rates. It's several years since I had an account with them but it was loaded with so many problems that I am still traumatised.

Noneforit999

I guess now it depends on how long you are prepared to wait to see if anybody else offers a slightly better deal in the near future.

If we assume the recent rate rise has largely filtered through, 4-4.5% seems about the baseline so unless rates rise again for the end of the year, it would seem prudent to stick something into a 1 year fixed and leave some for a potential rise in the new year?

If I have say £60k to save, I would be best to stick say £20k into a 1 year fixed now, leave £40k in an easy access then when rates rise again (assuming they do) then stick another 20k into another 1 year fixed at the higher rate and leave 20k in easy access for emergencies and to dip into etc?

jaypers

Noneforit999 said:

I guess now it depends on how long you are prepared to wait to see if anybody else offers a slightly better deal in the near future.

If we assume the recent rate rise has largely filtered through, 4-4.5% seems about the baseline so unless rates rise again for the end of the year, it would seem prudent to stick something into a 1 year fixed and leave some for a potential rise in the new year?

If I have say £60k to save, I would be best to stick say £20k into a 1 year fixed now, leave £40k in an easy access then when rates rise again (assuming they do) then stick another 20k into another 1 year fixed at the higher rate and leave 20k in easy access for emergencies and to dip into etc?

I’m pretty much doing this. Put £20k in an Atom 1 Year in August at 3.2%………next one scheduled to take out in November but I’m tempted to jump in now on the Charter 1 Year at 4.31%. 

peter021072

My Zopa fixed savings account has just matured today, so I'm thinking of investing or sticking it in the 1 year fixed savings at 4%, only slightly below the best on offer.  Of course every choice is a gamble relative to inflation!  I will wait until next week to decide, when there might be more savings accounts on offer. 

Expotter

Vanquis Bank 1 year fixed rate bond 4.25%

https://www.vanquissavings.co.uk/1-year-fixed-rate-bonds/

alternate

I opened the Charter.  5K to open and then you have 14 days for further deposits.  So you can stick 5k in and you have nearly 2 weeks to see if anyone comes along with a better rate.

Expotter

alternate said:

I opened the Charter.  5K to open and then you have 14 days for further deposits.  So you can stick 5k in and you have nearly 2 weeks to see if anyone comes along with a better rate.

It does say, however
" Once the Account is opened, and provided the product has not been closed to new deposits, you have a limited period in which you can make deposits into the Account:

• For Online Accounts that is up to 14 days, beginning on the day you apply for your Fixed Rate Bond."

I take that to mean that if it closes before 14 days, you'll only have until before it's closed, so it could be anytime really.
I opened one today and sent the deposit in the afternoon, so it won't be credited until Monday. I'm not sure what would happen if they withdraw it before then.

bristolleedsfan

alternate said:

I opened the Charter.  5K to open and then you have 14 days for further deposits.  So you can stick 5k in and you have nearly 2 weeks to see if anyone comes along with a better rate.

Email after signup refers to initial deposit as well as further deposits

Important – you have 14 days to make your deposit

We need to receive your deposit within 14 days of the date of your application.

If we don’t receive it within this time, we’ll assume you no longer require this account.

After we receive your initial deposit, you can send multiple, separate deposits if you wish, as long as we receive them within 14 days of the application.

jaypers

Can you fund the Charter Fixed Account directly from a Charter Easy Access?