5% accounts - which would you go for?

Oasis1

I've decided to put £10k into a 5yr fix as I don't think the 5% rate will get much higher at this point. Leaning towards Tandem as I like app-based banks. But there's a few other options too: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Wondering what people would go for, based on their experience with or knowledge of providers?

TomDolan

i went for Gatehouse 5.1% fix for 5yrs as i wanted monthly interest payout to my nominated account. I had no problems opening the account, took minutes, sent the 1st deposit which arrived after a few hours. I also have 2 yr fix and easy access with them so it was no brainer.

t1redmonkey

I like the Gatehouse ones, as you can change a few things with them during the course of the term (e.g. if they pay out monthly or annually, and whether the interest is paid out or compounded).

soulsaver

 Avoiding discussion about the prudence of 5 year fixes, if that's a 'given' then Gatehouse 5.1% e.p..
Used them for years, never had issues.
And that 0.1 advantage compounded will make a tidy little addition in 5 rears time.

Rheumatoid

I like the look of the Gatehouse offering but looks like you need to fund within 10 days of opening. Presume from the above that this can be in multiple deposits? Is  £1 test payment possible?
Thanks 

Oasis1

Alright, I'll go for Gatehouse instead. Thanks all.

P933alilli

Rheumatoid said:

I like the look of the Gatehouse offering but looks like you need to fund within 10 days of opening. Presume from the above that this can be in multiple deposits? Is  £1 test payment possible?
Thanks 

If youre a new customer youre allowed 30 days to put in your deposit! However, once youve put in your initial deposit you only have another 5 days in which to put in your full intended amount!

Rheumatoid

Collyflower1 said:

Rheumatoid said:

I like the look of the Gatehouse offering but looks like you need to fund within 10 days of opening. Presume from the above that this can be in multiple deposits? Is  £1 test payment possible?
Thanks 

If youre a new customer youre allowed 30 days to put in your deposit! However, once youve put in your initial deposit you only have another 5 days in which to put in your full intended amount!

Much appreciated. Maxed out Zopa matures 22/11

Oasis1

Set up. Initially had problems logging in (didn't recognise details) but after a few minutes it allowed me to.

Have now sent an electronic payment across using their instructions so waiting for that to appear. Does anyone know how long it typically takes? I've not had to use a payment reference system before which I assume involves human checks?

bristolleedsfan

Collyflower1 said:

Rheumatoid said:

I like the look of the Gatehouse offering but looks like you need to fund within 10 days of opening. Presume from the above that this can be in multiple deposits? Is  £1 test payment possible?
Thanks 

If youre a new customer youre allowed 30 days to put in your deposit! However, once youve put in your initial deposit you only have another 5 days in which to put in your full intended amount!

Email following application says  "As a reminder, we will apply the profit rate that was shown on our website when you applied for your account (or a higher rate if we have increased it), provided that you send us your deposit amount by bank transfer or by cheque within 14 days of making your application"

Rheumatoid

bristolleedsfan said:

Collyflower1 said:

Rheumatoid said:

I like the look of the Gatehouse offering but looks like you need to fund within 10 days of opening. Presume from the above that this can be in multiple deposits? Is  £1 test payment possible?
Thanks 

If youre a new customer youre allowed 30 days to put in your deposit! However, once youve put in your initial deposit you only have another 5 days in which to put in your full intended amount!

Email following application says  "As a reminder, we will apply the profit rate that was shown on our website when you applied for your account (or a higher rate if we have increased it), provided that you send us your deposit amount by bank transfer or by cheque within 14 days of making your application"

Thanks. Will hold fire for 2 or 3 days so I can transfer funds in time.