Notice Accounts

Bridlington1

One to possibly open speculatively whilst I remember:

Oak North have a 95 Day Notice Base Rate Tracker Account - Issue 1 at 5.2%. The account can be opened with £1 and tracks the base rate minus a 0.05% ``spread". Oak North can decrease the spread subject to the notice period plus 14 days, so 109 days in this case.

Rate changes caused by BOE base rate changes are applied from 1st of the next calendar month.

NameWithheld

Oxbury reducing rates.

90 day issue 10 down to 5.26% from 7 Aug
120 day issue 18 down to 5.00% from 6 Sep

slinger2

Also 90 day issue 11 down to 5.26% from 7 Aug. In line with the current offering

NameWithheld

Optimal date to give closure notice to maximise time at current rates is 9 May

RosieRooBear

Have given notice to close my Oxbury 120 notice account, easy to do online and can also specify the date you want it to close so no need to wait until 9th May to do it. 

gwapenut

NameWithheld said:

Oxbury reducing rates.

90 day issue 10 down to 5.26% from 7 Aug
120 day issue 18 down to 5.00% from 6 Sep

What are these issues paying before the rate cut? My 120 day notice is a much later account, issue 23 and pays 5.53%.

RosieRooBear

@gwapenut, issue 23 5.53% is the one I’ve got and is being reduced as above. You should have received an email today informing you. I believe they are reducing their whole range regardless of issue number

allegro120

Oxbury.  It was expected to come sooner or later. Now the new rates are confirmed I will keep funds in 90d and close120d. 

slinger2

See: https://oxbury-fs-plc.cdn.prismic.io/oxbury-fs-plc/Zh1VRzjCgu4jz1Jv_PersonalNoticeSummaryRates11.04.24.pdf

for old rates. The 120 day is no longer marketed. Can't really see why the new 120 day is so much lower than the 90 day rate.

allegro120

slinger2 said:

See: https://oxbury-fs-plc.cdn.prismic.io/oxbury-fs-plc/Zh1VRzjCgu4jz1Jv_PersonalNoticeSummaryRates11.04.24.pdf

for old rates. The 120 day is no longer marketed. Can't really see why the new 120 day is so much lower than the 90 day rate.

This is because of the current trend across the board (longer term = lower rate), you can see this pattern clearly if you look at fixed term bonds currently available on the market.  Experts predict that BoE will be gradually reducing the base rate over next few years and banks behave accordingly.