Are banks going to increase interest rates on Term Deposits. 11 February at 7:34AM in Savings & investments 21 replies 1.7K views

Albermarle

Current top fixed for 1 year is 4.25%, worth holding to see increase? — MoneySavingExpert Forum

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brucefan_2

This is the money market fund that I am using:

https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/r/royal-london-short-term-money-market-class-y-income

I've never really managed to get my head round 'Money Market Funds'

If it's not too much trouble, would you mind explaining please how you use it as part of your overall strategy?

Many thanks!
David

sevenhills

Barclays have a two year, up to £5,000 @ 5.12% fix

https://www.barclays.co.uk/savings/

ColdIron

sevenhills said:

Barclays have a two year, up to £5,000 @ 5.12% fix

https://www.barclays.co.uk/savings/

It's not fixed term and is a variable rate

ForumUser7

sevenhills said:

Barclays have a two year, up to £5,000 @ 5.12% fix

https://www.barclays.co.uk/savings/

This is the rainy day saver right? If so, is the rate definitely for 2 years only? I didn’t think it was one of those that expired and dropped after a certain period of time

GeoffTF

I have about £50K in the money market fund growing at about 3.8% p.a currently. £5 to trade on iWeb. Risk is 1 on the KIID scale. I also have a few thousand in an easy access account to cover small emergencies. The risk is negligible in the context of a seven figure portfolio. I will need cash to fill my ISA and SIPP allowances. I also want ready cash to snap up investment bargains when I see them, or meet bigger emergencies like needing a new car. (My car is 12 years old now and sellers want nearly as much for an equivalent car as I paid when it was one year old.)

sevenhills

ColdIron said:

sevenhills said:

Barclays have a two year, up to £5,000 @ 5.12% fix

https://www.barclays.co.uk/savings/

It's not fixed term and is a variable rate

It's confusing, it states two years on the left.

RG2015

sevenhills said:

ColdIron said:

sevenhills said:

Barclays have a two year, up to £5,000 @ 5.12% fix

https://www.barclays.co.uk/savings/

It's not fixed term and is a variable rate

It's confusing, it states two years on the left.

I think the 2 may refer to the footnote number.

skray

Qyburn said:

skray said:Not Sure. I was checking at NSE website only - 1 year rate still hovering around 4.15 mark same as before latest interest rate rise. For Cash ISA only Virgin Money increased from 3.8 to 4%. Barclays still at 4% same as before.

Virgin already had a One Year ISA at 4.25% and that one hasn't been increased. 

It is for existing customers only.

Qyburn

skray said:

Qyburn said:

skray said:Not Sure. I was checking at NSE website only - 1 year rate still hovering around 4.15 mark same as before latest interest rate rise. For Cash ISA only Virgin Money increased from 3.8 to 4%. Barclays still at 4% same as before.

Virgin already had a One Year ISA at 4.25% and that one hasn't been increased. 

It is for existing customers only.

Correct but you can open a current account and immediately open the ISA. However the point is that increasing the non-exclusive rate by 0.2% may not be anything to do with the base rate change.