CDs certificates of deposit in UK?

Freedommm

I understand that in US products exist such as CDs, issued by eg. FIdelity, Schwab, various banks etc. Some 30-day ones supposedly pay 4.5% APY. But I was told bu Schwab they are only available for US citizens.
CDs typically cost 1.00 USD and don't fluctuate. 

Surely, there must be something similar available to UK citizens?

 Ps. Please DO NOT recommend genera ETF funds. The difference is that CDs don't fluctuate in price as such, while ETFs can and do fluctuate wildly (and you almost always lose). I repeat, not ETFs.

Johnjdc

US CDs will still fluctuate from our perspective since they'd be in dollars. I'd say buying a US CD would be riskier than buying a short-dated ETF.

The closest UK equivalent to a 30-day CD would be a 30-day notice account, you're just, effectively, constantly renewing it for a new 30-day period.

The return on this is about at par relative to the difference in base and benchmark rates between the two countries.

wmb194

Freedommm said:

I understand that in US products exist such as CDs, issued by eg. FIdelity, Schwab, various banks etc. Some 30-day ones supposedly pay 4.5% APY. But I was told bu Schwab they are only available for US citizens.
CDs typically cost 1.00 USD and don't fluctuate. 

Surely, there must be something similar available to UK citizens?

 Ps. Please DO NOT recommend genera ETF funds. The difference is that CDs don't fluctuate in price as such, while ETFs can and do fluctuate wildly (and you almost always lose). I repeat, not ETFs.

Isn't the British equivalent of a CD simply a fixed rate savings bond? I.e., those you can get from most banks and building societies.

https://moneyfacts.co.uk/savings-accounts/fixed-rate-bonds/?quick-links-first=false

If you're looking for something like this in USD you'll have a hard time but there might be some options e.g., NatWest International appears to be offering 4.26% AER for three months on $10k to $100k.

https://www.natwestinternational.com/international-banking/savings/us-dollar-fixed-term-deposit.html#interest-rates

cwep2

The equivalent would be:

Notice accounts for <6 months, open and give notice straight away (many will allow you to rescind notice or have multiple rolling monthly notice withdrawals).
Fixed rate bonds for 6months+ Very common for 1,2,3,5 year, and some other offerings 6,9,18 months + 4yr.

Freedommm

Let's ask another way. Is there a way for UK citizens to buy those actual US products mentioned earlier?
(yes, particularly seeking pound losing 1.2% per day, like today) 

dale_cotterill

Freedommm said:

Let's ask another way. Is there a way for UK citizens to buy those actual US products mentioned earlier?
(yes, particularly seeking pound losing 1.2% per day, like today) 

No, they are for US residents. Nearest equivalent is the Natwest International Dollar Account that wmb194 suggested. But you'll carry all of the currency risk instead so the £ value could fluctuate wildly.