Notice Accounts

RobfromCornwall

Just noticed Zopa have increased their rates:

• Access pot - 1.81%
• 7 days notice - 1.85%
• 31 days notice - 1.95%
• 95 days notice - 2.05%

I know these might not be for everyone, but the way the app works is great, and I like how responsive they are to rate rises, included boosted pots.  

jimexbox

RobfromCornwall said:

Just noticed Zopa have increased their rates:

• Access pot - 1.81%
• 7 days notice - 1.85%
• 31 days notice - 1.95%
• 95 days notice - 2.05%

I know these might not be for everyone, but the way the app works is great, and I like how responsive they are to rate rises, included boosted pots.  

Been waiting for zopa to bump up their rates. Time to transfer more across.

Chase are being left behind. 

proudman

Hi.  I'm new here and need some help from what look likes a very knowleageable community.

Does anyone have any views on 90 day Notice Accounts paying around 2% versus easy access ones at around 1.5-1.6% where large sums are involved due to a house sale?

Is it better to have the lower interest rate and be able to switch to a better rate without having to give notice as savings interest rates are going up quite frequently or take the higher rate whilst it's available and lock it in for 90 days?  Thanks

RobfromCornwall

proudman said:

Hi.  I'm new here and need some help from what look likes a very knowleageable community.

Does anyone have any views on 90 day Notice Accounts paying around 2% versus easy access ones at around 1.5-1.6% where large sums are involved due to a house sale?

Is it better to have the lower interest rate and be able to switch to a better rate without having to give notice as savings interest rates are going up quite frequently or take the higher rate whilst it's available and lock it in for 90 days?  Thanks

How long is a piece of string?
You could wait and have access to higher rates tomorrow/next week/next month.
You could lock in now and have surety but miss out on higher rates later.

Depends on lots of things.  Probably a mix is best, some easy access, some locked away for medium and longer (if appropriate) terms.  And your personal circumstances too.  

janusdesign

Allica 95-Day notice account now paying 2.20%, though I think you have to call them to give them notice to withdraw (i've sent them a message to check on this).

Update: they've confirmed to me that you can send them a secure message to give notice too.

jimexbox

Account limit on zopa has also been raised from 50k to 85k. Goodbye Chase! 

Expotter

Oak North Bank has increased its 90 day notice account to 2.21%

Desk

I'm really kicking myself for not grabbing that 3.2 per cent one year fix at Union Bank of India.

I sincerely hope that doesn't represent the high watermark for one year fixes. Although the base rate is expected to rise further, it's really difficult to know when to lock in.

Desk

Desk

Ignore that last post - wrong thread.

Desk

janusdesign

Expotter said:

Oak North Bank has increased its 90 day notice account to 2.21%

do you happen to know if OakNorth automatically increase the rate on existing issues ?

I opened Issue 19 10 days ago that is paying 2.12%, but the existing rate so far hasn't changed to 2.21%... i've emailed them to check and if they don't automatically apply new rates to existing notice accounts, i've given them notice to cancel as i'm still in the cooling off period.