The Top Fixed Interest Savings Discussion Area

metrobus

Seems like there is a relatively low max holding in the Atom 2 year fix compared to other institutions.
It says £100K on the App but not accepting anywhere near that with me,maybe they will allow me more tomorrow.

wiseonesomeofthetime

metrobus said:

Seems like there is a relatively low max holding in the Atom 2 year fix compared to other institutions.
It says £100K on the App but not accepting anywhere near that with me,maybe they will allow me more tomorrow.

I would not deposit more than £85k with any financial institution tbh.

metrobus

No I wouldn’t either.
In fact no more than £77k with this Atom 2 year fix, considering I’ve opted for interest added monthly to the account .

Bigwheels1111

I would not put more than 80k in any account to keep the FSCS protection.
If rate is say 5%. On 8pm that would be 4k.
So 84k if anything goes wrong ie the bank goes under.
You would get money and interest, if you had 85k in the account you would loose the interest.

Silverbullet036

MoneySaver16 said:

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.

I manage all of our finances (my wifes and mine) She doesnt want to know the details or any of the 'boring' stuff. It's not boring to me it's a game I like to play. I have placed and manage a substantial sum in many institutions in her name. The only time she gets involved is when someone needs to speak to her directly.

I receive a pension whilst she works part time. I like to juggle all the accounts to make sure we use up every penny of tax free entitlements that we can make use of.

I eally cant see there being any problem with this whatsoever and who really needs to know anyway

alternate

I don;t think the term on the Coventry bonds is deceptive - they don't even market they as 1 year. 2 year, etc but it is odd that they don't see any value in appearing on the top rates lists.  A market leading rate from a well known BS would attract a lot of the people who just look on websites to see who is paying the most.

cricidmuslibale

alternate said:

I don;t think the term on the Coventry bonds is deceptive - they don't even market they as 1 year. 2 year, etc but it is odd that they don't see any value in appearing on the top rates lists.  A market leading rate from a well known BS would attract a lot of the people who just look on websites to see who is paying the most.

I absolutely see where you’re coming from but, as a regular Coventry saver for several years now, I can honestly tell you that it must be several years ago now when they last issued a batch of fixed rate bonds that lasted for only 12 months, 24 months, 36 months etc, like the vast majority of 1 year, 2 year, 3 year etc fixed rate savings accounts that are available elsewhere.

It seems reasonably clear to me that with this latest set of fixed rate bonds, Coventry have opted to have market leading (or joint market leading) interest rates for all three terms being offered but clearly don’t feel that they can offer these market leading rates without requiring the saver to commit to lending them their deposit money for a further 11 weeks or so beyond the normal term length in each case.

I believe that Coventry is now the 2nd largest building society in Great Britain, behind only Nationwide who behave more like a big bank in many ways these days. They (Coventry) are so well known and mostly trusted, or at least thought of as reliable and predictable in behavioural terms, by savers and borrowers alike that they probably can release savings and mortgage products which are slightly different to equivalent products offered by other building societies (and banks) and still attract more than enough funding in each case.

bristolleedsfan

alternate said:

I don;t think the term on the Coventry bonds is deceptive - they don't even market they as 1 year. 2 year, etc but it is odd that they don't see any value in appearing on the top rates lists.  A market leading rate from a well known BS would attract a lot of the people who just look on websites to see who is paying the most.

Screenshots have been posted on other threads showing Coventry B.S on Moneyfacts best buy tables 18 month/2 year/4 year/ All terms categories.....

TomDolan

looks like the Charter Savings 18month bond 4.45% has been pulled, not on website anymore but still available to existing Charter savings customers

intalex

TomDolan said:

looks like the Charter Savings 18month bond 4.45% has been pulled, not on website anymore but still available to existing Charter savings customers

Looks like all accounts but the 2-year fixed ISA have been taken off... I wonder if next batch will be lower or higher rates...