5% accounts - which would you go for?

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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Replies

  • TomDolanTomDolan Forumite
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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.
  • t1redmonkeyt1redmonkey Forumite
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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).
  • soulsaversoulsaver Forumite
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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.
  • RheumatoidRheumatoid Forumite
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    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 
    16 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 :j
  • Oasis1Oasis1 Forumite
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    Alright, I'll go for Gatehouse instead. Thanks all.
  • Collyflower1Collyflower1 Forumite
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    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!
  • RheumatoidRheumatoid Forumite
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    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
    16 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 :j
  • edited 10 November 2022 at 3:52PM
    Oasis1Oasis1 Forumite
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    edited 10 November 2022 at 3:52PM
    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?
  • bristolleedsfanbristolleedsfan Forumite
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    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"
  • RheumatoidRheumatoid Forumite
    751 Posts
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Forumite
    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.
    16 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 :j
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