Atom Bank just launched new 1 year fixed saver @ 1.75%

SickGroove

Handy for those who prefer their interest paid monthly.

refluxer

With reference to your other post - to give you an idea of how rates are rising at the moment, Atom were paying 1.45% for a 1 Year Fixed Rate as recently as the 23rd March. These challenger banks do seem to be jostling for position at the top of the table at the moment, so rates are currently rising on a weekly (and sometimes daily) basis.

CheekyMikey

I’m holding fire putting some cash into a fixed rate at the moment. Better offers are appearing regularly and I think a 1 year at 2% is not far away. Of course, gotta pull the trigger at some point, but let’s see what April brings. Holding my cash in Chase at 1.5% for now.

ChilliBob

Well my 1:35% fix sucks then doesn't it? It's the only fix I have done and I think I'll hold off doing anymore really. 

alanwsg

Rather annoying when you still have an Atom fixed saver from last year at 0.75%
Only a couple of months to go though....

CheekyMikey

ChilliBob said:

Well my 1:35% fix sucks then doesn't it? It's the only fix I have done and I think I'll hold off doing anymore really. 

It doesn’t suck, still not a bad rate. But in a period where we know interest rates will be rising, it’s always a slight gamble to fix. Bear in mind though, the Chase rate is currently a complete outlier and is not necessarily what you should be benchmarking against. I think it could take other banks months, if at all this year, to offer an equivalent easy access rate, so fixing at 1.35% and above is not likely to be too disadvantageous, but if you have spare cash I’d wait a month to see what else appears.

refluxer

ChilliBob said:

Well my 1:35% fix sucks then doesn't it? It's the only fix I have done and I think I'll hold off doing anymore really. 

If it makes you feel any better, I have a number of fixed rate accounts paying a fair amount less than that, which were taken out at a time when rates looked to be heading to zero... or even beyond that to negative figures !

As none of us have a crystal ball, you can only make the best decision you can at the time. A 'savings ladder' spreads the risk a little and obviously makes much more sense when rates are rising rather than falling, so trends are a little easier to predict at the moment, than they were midway through the pandemic.

wiseonesomeofthetime

My First Save 1 Year fix just matured at a whopping loyalty rate (2021) of 0.80%

That money is now destined for 2022-23 S&S ISA though

Thumbs_Up

‘Fools rush in where angels fear to tread’

Monument was setting the rate at 1.8% only last week now off the market, it’s like feeding time with the piranhas at London Zoo. I’m holding my powder dry for now expect 2% for a 1 year fix coming to you soon.