The Top Fixed Interest Savings Discussion Area

dali21

dali21 said:

bristolleedsfan said:

janusdesign said:

Devonjem said:

Yes - I did earlier today.

doh - it never occurred to me to check and withdraw £5k from the Charter 2.25% to my nominated account and funded the fix from there... though the £5k hasn't even hit the nominated account yet.

the weird thing is the charter fix is showing a rate of 3.49% - no idea why as I think it should show 4.23%, but have sent them a secure message.

Good spot, funded mine Thursday, was showing correct rate yesterday, now showing 3.49% 

I have the same issue.  Opened 6 October and funded 7 October.  My annual gross rate should be 4.31% but it's showing 3.55% which was the previous 1 year fixed rate.  Have sent a secure message but also on hold on the phone to them now.  Will update when I have a response.

Update: after a 45 minutes wait - the CS agent I spoke to said it would be passed onto management to have a look at.  This will be picked up on Monday and I should allow 48 hours for a response.   

So a bit of a wait but hopefully, they will recognise when I applied it was for the 4.31% gross bond.

alternate

dali21 said:

dali21 said:

bristolleedsfan said:

janusdesign said:

Devonjem said:

Yes - I did earlier today.

doh - it never occurred to me to check and withdraw £5k from the Charter 2.25% to my nominated account and funded the fix from there... though the £5k hasn't even hit the nominated account yet.

the weird thing is the charter fix is showing a rate of 3.49% - no idea why as I think it should show 4.23%, but have sent them a secure message.

Good spot, funded mine Thursday, was showing correct rate yesterday, now showing 3.49% 

I have the same issue.  Opened 6 October and funded 7 October.  My annual gross rate should be 4.31% but it's showing 3.55% which was the previous 1 year fixed rate.  Have sent a secure message but also on hold on the phone to them now.  Will update when I have a response.

Update: after a 45 minutes wait - the CS agent I spoke to said it would be passed onto management to have a look at.  This will be picked up on Monday and I should allow 48 hours for a response.   

So a bit of a wait but hopefully, they will recognise when I applied it was for the 4.31% gross bond.

This is going to sound dumb but whereabouts does it say the rate.  I cant see it.

cloud_dog

Eirambler said:

What would be the best instant access savings account at the moment that pays interest monthly (or at worst quarterly) that we could put £20-30k into. We are looking at potentially doing an extension to the house next year, so anything that only pays interest annually like the Nationwide 2.1% offer won't be any use to us.

I know Marcus at 1.8% pays out monthly, just wondering if there is anything else with similar ease of use but a higher rate that we would actually gain the interest from over the next few months. Or are we better off just topping up our Premium Bond pot?

Thanks.

I know you can select monthly interest with Ford Money (1.95%).

A nice feature with FM (and one or two others), is that you can set up a future dated withdrawal, and you can make this a repeating payment if you wish.  We found it quite a useful feature.

EDIT:  Apologies for straying away from FR discussion 

dali21

alternate said:.

This is going to sound dumb but whereabouts does it say the rate.  I cant see it.

It should be visible on the main account summary page.  However it doesn't show the rate until you have funded it.
Which is why I got a shock when I saw mine showing 3.55% instead of the expected 4.31%.

alternate

dali21 said:

alternate said:.

This is going to sound dumb but whereabouts does it say the rate.  I cant see it.

It should be visible on the main account summary page.  However it doesn't show the rate until you have funded it.
Which is why I got a shock when I saw mine showing 3.55% instead of the expected 4.31%.

okay thanks, showing nothing anywhere but the initial deposit only went in today.  I guess it hasn't updated yet.  I went for monthly if that makes any difference.

Heinzbean

I had an Aldermore account which matured on 23rd of September and was going to lock me in at 2.96%.1 Year fix.  i noticed in the paper work that i had 14 days to change my mind. So i just closed the account (on the 13th day) and opened a Virgin money account at 4% 1 year fix.Aldermore would have given me 2.96%x £85000 = £2516 per year or £209.66 per month....

Virgin = 4% X £85000 = £3400  per year or £ 283.33 Per month . Well and truly worth the effort. Charter banks fixed accounts had disappeared offline for a few days. Worrying whether to just open accounts now or will the rates rise further. Nice to now my crappiest account is paying 2.23% limited access account...which i can withdraw the whole lot at any time.

gt94sss2

Eirambler said:

What would be the best instant access savings account at the moment that pays interest monthly (or at worst quarterly) that we could put £20-30k into. We are looking at potentially doing an extension to the house next year, so anything that only pays interest annually like the Nationwide 2.1% offer won't be any use to us.

You can still opt for an instant access savings account paying annual interest instead of monthly -  assuming you plan on to close the account when you need the money next year - a bank will pay you any interest due until the closing date.

Heinzbean

Eirambler

Coventry building society  limited access pays interest monthly. mines at 2.23%

limited access is just the amount of withdrawals you can make.

alternate

Heinzbean said:

I had an Aldermore account which matured on 23rd of September and was going to lock me in at 2.96%.1 Year fix.  i noticed in the paper work that i had 14 days to change my mind. So i just closed the account (on the 13th day) and opened a Virgin money account at 4% 1 year fix.Aldermore would have given me 2.96%x £85000 = £2516 per year or £209.66 per month....

Virgin = 4% X £85000 = £3400  per year or £ 283.33 Per month . Well and truly worth the effort. Charter banks fixed accounts had disappeared offline for a few days. Worrying whether to just open accounts now or will the rates rise further. Nice to now my crappiest account is paying 2.23% limited access account...which i can withdraw the whole lot at any time.

Fixed bonds that mature in to another fixed bond by default should be banned.  Default, did not give instructions, should always be easy access.  Even if the EA is an insulting rate.  Right up there with auto renewing insurance as default.

I had one bond with DF Capital lately that offered to roll me on to a new fix after 8 months into a 1 year fix.  That was quite clever.  The rate was a lot better so I was happy and they got to lock you in for a longer period so I imagine they were happy.  Never seen that before.

Rollinghome

alternate said:

dali21 said:

dali21 said:

bristolleedsfan said:

janusdesign said:

Devonjem said:

Yes - I did earlier today.

doh - it never occurred to me to check and withdraw £5k from the Charter 2.25% to my nominated account and funded the fix from there... though the £5k hasn't even hit the nominated account yet.

the weird thing is the charter fix is showing a rate of 3.49% - no idea why as I think it should show 4.23%, but have sent them a secure message.

Good spot, funded mine Thursday, was showing correct rate yesterday, now showing 3.49% 

I have the same issue.  Opened 6 October and funded 7 October.  My annual gross rate should be 4.31% but it's showing 3.55% which was the previous 1 year fixed rate.  Have sent a secure message but also on hold on the phone to them now.  Will update when I have a response.

Update: after a 45 minutes wait - the CS agent I spoke to said it would be passed onto management to have a look at.  This will be picked up on Monday and I should allow 48 hours for a response.   

So a bit of a wait but hopefully, they will recognise when I applied it was for the 4.31% gross bond.

This is going to sound dumb but whereabouts does it say the rate.  I cant see it.

It's here:  https://www.chartersavingsbank.co.uk/Products/FixedRateBond  Both for annual and monthly interest. But no confirmation in their emails afaics.

Click the + links for:

Summary Box    

    Account Name
    Charter Bank 1 Year Fixed Rate Bond
    Apply now    
    What is the interest rate?
    Monthly Interest
    Balance         Gross1     AER 2
    £5,000 - £1,000,000     4.23%     4.31%
    Interest will be paid one month after your initial deposit into your Account and on that day in every month after that.
    Interest is calculated daily at the interest rate at the end of that day.
    You can choose to have your interest paid into your 1 Year Fixed Rate Bond Account, another Charter Savings Bank account held by you (subject to the specific conditions of that account) or your Nominated Account.