Is this a good option or should i wait?

oysterman

Looking to put £25k into Atom 1 year fixed 4.11% & 15k into YBS Rainy day 2.50%.  Don't want to fix for longer than that. Is their anything better out there or  should i wait a bit longer & see if better rates appear? Cheers for any replies!!!!

Brie

YBS sounds legit as I assume that's Yorkshire Building Society (thanks for the heads up!)  but what's Atom?  is it a bank and therefore have the protection in place?

wiseonesomeofthetime

Brie said:

YBS sounds legit as I assume that's Yorkshire Building Society (thanks for the heads up!)  but what's Atom?  is it a bank and therefore have the protection in place?

Read about them here - https://www.atombank.co.uk/fixed-saver/

I have Instant Saver and Fixed Rate Bonds with them and used them for a few years now. No issues.

cricidmuslibale

oysterman said:

Looking to put £25k into Atom 1 year fixed 4.11% & 15k into YBS Rainy day 2.50%.  Don't want to fix for longer than that. Is their anything better out there or  should i wait a bit longer & see if better rates appear? Cheers for any replies!!!!

It's important to be aware that only the first £5k of the £15k you put into the YBS Rainy Day A/c will earn 2.50% variable annual interest. The remaining £10k will earn 2.00% variable annual interest giving you an overall variable annual interest rate of 2.1666% on the whole £15k. Clearly, and especially if the two interest rates go up with each base rate rise, this is still quite a good overall rate at the moment, even for very limited 2 withdrawal days a year access, but it can still be beaten with true easy access accounts from Charter Savings Bank (2.25% AER) and Al Rayan (2.35% Expected Profit Rate), for example.

oysterman

cricidmuslibale said:

oysterman said:

Looking to put £25k into Atom 1 year fixed 4.11% & 15k into YBS Rainy day 2.50%.  Don't want to fix for longer than that. Is their anything better out there or  should i wait a bit longer & see if better rates appear? Cheers for any replies!!!!

It's important to be aware that only the first £5k of the £15k you put into the YBS Rainy Day A/c will earn 2.50% variable annual interest. The remaining £10k will earn 2.00% variable annual interest giving you an overall variable annual interest rate of 2.1666% on the whole £15k. Clearly, and especially if the two interest rates go up with each base rate rise, this is still quite a good overall rate at the moment, even for very limited 2 withdrawal days a year access, but it can still be beaten with true easy access accounts from Charter Savings Bank (2.25% AER) and Al Rayan (2.35% Expected Profit Rate), for example.

Good shout  cricidmuslibale, many thanks

cricidmuslibale

oysterman said:

cricidmuslibale said:

oysterman said:

Looking to put £25k into Atom 1 year fixed 4.11% & 15k into YBS Rainy day 2.50%.  Don't want to fix for longer than that. Is their anything better out there or  should i wait a bit longer & see if better rates appear? Cheers for any replies!!!!

It's important to be aware that only the first £5k of the £15k you put into the YBS Rainy Day A/c will earn 2.50% variable annual interest. The remaining £10k will earn 2.00% variable annual interest giving you an overall variable annual interest rate of 2.1666% on the whole £15k. Clearly, and especially if the two interest rates go up with each base rate rise, this is still quite a good overall rate at the moment, even for very limited 2 withdrawal days a year access, but it can still be beaten with true easy access accounts from Charter Savings Bank (2.25% AER) and Al Rayan (2.35% Expected Profit Rate), for example.

Good shout  cricidmuslibale, many thanks

You're very welcome, oysterman!

(YBS is a savings provider that I know quite well and, as it happens, have a good deal of respect for, in particular because they have endeavoured to support their longstanding savers through relatively high interest-paying loyalty accounts during the last couple of years.)