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5% accounts - which would you go for?
Options

Oasis1
Posts: 735 Forumite


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?
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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.
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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).2
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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.1 -
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?
Thanks16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j1 -
Alright, I'll go for Gatehouse instead. Thanks all.
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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?
Thanks1 -
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?
Thanks16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j0 -
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?0
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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?
Thanks0 -
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?
Thanks16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j1
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