The Top Fixed Interest Savings Discussion Area

WillowLea1962

Who_invited_her said:

Can someone please explain the fixed rate ladder method? Is this to open a 1,2,3,4 and 5 year fixed rate product all at the same time then another 5 year fix every year that one of the initial products mature? Or is it to split your funds between several 1 year fixes staggered a month or more between each product to even out the risk of waiting for a higher rate versus earning interest now? Hope that makes sense

there are a few discussion threads on 'fixed rate ladder' if you put that phrase in the Search the forum box above

cricidmuslibale

Who_invited_her said:

Can someone please explain the fixed rate ladder method? Is this to open a 1,2,3,4 and 5 year fixed rate product all at the same time then another 5 year fix every year that one of the initial products mature? Or is it to split your funds between several 1 year fixes staggered a month or more between each product to even out the risk of waiting for a higher rate versus earning interest now? Hope that makes sense

It usually refers to splitting your funds between several 1 year (or longer if you wish) fixes staggered at regular intervals between each fix. This interval does not have to be as much as a month; with interest rates continually rising at present, it almost makes sense at the moment to be opening a new fixed rate savings account with a slightly higher interest rate every week!

micklemuckle

cricidmuslibale said:

ForumUser7 said:

I'm also seeing on MoneyFacts that Coventry Building Society is releasing some new fixed rate bonds:

Approx 1 year Fixed Rate Bond (284) 31.12.2023 @ 4.40% AER
Approx 2 year Fixed Rate Bond (286) 31.12.2024 @ 4.70% AER
Approx 3 year Fixed Rate Bond (288) 31.12.2025 @ 4.85% AER

These rates appear to be table toppers (for now at least)!

Yes they are good rates, particularly the 3 year and 2.5 months fixed rate, but beware of Coventry’s usual trick of adding a couple of months or more on to the usual fixed rate period in order to appear to be offering a very generous fixed rate!

But you still get 4.4% for the extra couple of months , right ?

alternate

micklemuckle said:

cricidmuslibale said:

ForumUser7 said:

I'm also seeing on MoneyFacts that Coventry Building Society is releasing some new fixed rate bonds:

Approx 1 year Fixed Rate Bond (284) 31.12.2023 @ 4.40% AER
Approx 2 year Fixed Rate Bond (286) 31.12.2024 @ 4.70% AER
Approx 3 year Fixed Rate Bond (288) 31.12.2025 @ 4.85% AER

These rates appear to be table toppers (for now at least)!

Yes they are good rates, particularly the 3 year and 2.5 months fixed rate, but beware of Coventry’s usual trick of adding a couple of months or more on to the usual fixed rate period in order to appear to be offering a very generous fixed rate!

But you still get 4.4% for the extra couple of months , right ?

yes  , , ;

metrobus

Can the Atom fixed term Accountd be funded directly from your Atom easy saver?
Thank you.

gt94sss2

metrobus said:

Can the Atom fixed term Accountd be funded directly from your Atom easy saver?

Not yet, its supposed to be on their list of enhancements...

metrobus

Thank you , how long would it take Atom to transfer cash into the nominated Acc please

refluxer

metrobus said:

Thank you , how long would it take Atom to transfer cash into the nominated Acc please

If you mean from the Atom Instant Saver, then it may depend on the receiving bank but transfers out of the Instant Saver are pretty-much instant to my Barclays current account.

metrobus

Thanks , I withdrew from the Atom instant saver to Nationwide and have now seen a banner on my NW app that withdrawls and deposits tonight between 8pm and 10pm will take up to 2 hours to be completed.

Edited. it has now arrived.

MoneySaver16

My other half is not interested in chasing rates - is it acceptable for me to manage their accounts with their permission? 

I mean setting up, transfers, using respective apps on my devices etc?

It makes sense to spread it out between our accounts for tax purposes but not sure where the line is with this.

We are married so I thought it was OK to transfer freely between us.