30day or 90day or longer fix at the moment

susanann_2

Hi what is the best way to handle things currently wait in an instant access account for better fix. Or 31 or 95 day with say Zopa or 90 day with Oak North or could those lag behind shortly. It’s a difficult time to get a handle on what to do for the best. What are peoples feeling on this. 

zxspeccy

All of ZOPA’s boosted pots are termed variable interest savings accounts, so have the advantage of the interest rates increasing when the base rate rises. In additional once you have given notice you can still add funds to the boosted pots without affecting the withdrawal date.

So, for me the ZOPA boosted pots are the way to go, but it won’t be too long before I will be looking to fixed at 6 months or even a year.

EthicsGradient

zxspeccy said:

All of ZOPA’s boosted pots are termed variable interest savings accounts, so have the advantage of the interest rates increasing when the base rate rises. In additional once you have given notice you can still add funds to the boosted pots without affecting the withdrawal date.

So, for me the ZOPA boosted pots are the way to go, but it won’t be too long before I will be looking to fixed at 6 months or even a year.

Do Zopa actually promise to increase all (or any) of their rates when the base rate goes up, or are you just assuming they will?

zxspeccy

EthicsGradient said:

zxspeccy said:

All of ZOPA’s boosted pots are termed variable interest savings accounts, so have the advantage of the interest rates increasing when the base rate rises. In additional once you have given notice you can still add funds to the boosted pots without affecting the withdrawal date.

So, for me the ZOPA boosted pots are the way to go, but it won’t be too long before I will be looking to fixed at 6 months or even a year.

Do Zopa actually promise to increase all (or any) of their rates when the base rate goes up, or are you just assuming they will?

Zopa have, so far, have applied increases in their savings rates to the current boosted pots. I have funds in a 95 day boosted pot, that has been increased from 1.60% to 1.85% and now to 2.05% without me having to wait for the 95 days to mature and then re-investing in a new pot with the higher interest. There is, of course, no guarantee they will continue to do this, but that is what they have done with all the base rate rises this year at least.

garyelder

How many more base rates do you expect, me personally I don’t think there will be to many more
Money is getting tight for mortgage payers 

jimexbox

garyelder said:

How many more base rates do you expect, me personally I don’t think there will be to many more
Money is getting tight for mortgage payers 

Base rates are incredibly low. While inflation is raging and it making us all poorer. Defeating Inflation comes first.

The Times are running an article that most economist are predicting another 0.5 rise next month. 

pearl123

I've gone for 90 days, as banks/building soc don't seem to increase rates that quickly. 

baldeagle09

My view is that there will be several more interest rate rises over the next year or so. The base rate rise while not matching inflation will have severe implications for all aspects of the economy.

Bridlington1

As interest rates are on the rise and I suspect they will be for a while now, I've opted for easy access with a series of regular savers that beat my easy access accounts (11 at the moment, soon to be 15). I then close the regular savers as and when their interest rates are overtaken by the easy access accounts.