Isbank 5% 1 Year via Raisin

Frank121

Steve_xx said:

Excellent find. Well spotted.

Indeed well done! I looked more than once and didn't see it. Not suprising when they put in the "about" section rather than the under the "security and deposit gurantee". They ought to make that clearer...as seen by the confusion in this thread.

VNX

The rise that’s due on Thursday will be priced in already, it’s so widely expected that no one offering fixes will be surprised and ramp their rates up as an immediate reaction.

Frank121

Frank121 said:

I have emailed Rasin for clarfication and will let you know ther response.

Hello Rasin, I have recently opened a IS Bank 1 year fixed bond which comes with FSCS 85k protection. I checked the FSCS website but cannot find IS bank listed. I have found the following listing but it's not clear if my funds are protected because the names differ. Turkiye Is Bankasi As (FRN:204708) Could you please check and confirm? It would be a better if you put the exact name and FRN in the product description to avoid any doubt. Thank you, Frank

Here is the reply. It's less important now since Dcotor who already spotted it at the top of the product informaton page. Nonetheless hope it helps to satisfy the doubt.

------------------------------------------

Thank you for your secure message.

We can confirm that this is the correct FRN for Isbank. The variety in name is due to Isbank being the UK branch of Turkiye Is Bankasi As.

The 12 Month Fixed Rate Bond which you opened on 05/05/2023 is covered by the FSCS.

We apologise for any inconvenience which may have been caused.

If you have any further questions, please get in touch.

Kind regards,
The Raisin UK Customer Service Team

P933alilli

Millyonare said:

Maybe do a hybrid, half in Isbank 7yr, half in VLS60.

Not advice. Just discussion, etc.

I have a 5 yr fixed @ 5.1% (from November) and now a 3 year fixed @ 5% from today. I'm hoping inflation drops below 5% in the next 12-18 months or so. Hoping ive made a good decision.

t1redmonkey

Collyflower1 said:

Millyonare said:

Maybe do a hybrid, half in Isbank 7yr, half in VLS60.

Not advice. Just discussion, etc.

I have a 5 yr fixed @ 5.1% (from November) and now a 3 year fixed @ 5% from today. I'm hoping inflation drops below 5% in the next 12-18 months or so. Hoping ive made a good decision.

I did the same (going into the 5.1% account back in November).  The way I look at it is even if fixed rates go a bit higher this time round, we've still had the benefit of getting 6 months of increased interest payments since November, whereas the alternative would've been keeping it in an easy access account (which I believe were still under 3% at the time).

KovaK

Why do Raisin need to sit on our money for so long before transferring it to Isbank?
My money went into my holding account with Raisin on 09/05/23 and they still haven't opened my Isbank account.
Surely this should be done within a day, tops?
What are they checking? Checks were done when I applied for the Isbank account...

Doctor_Who

I can live with transfers taking a couple of days for a 1 or 2 year fixed deal. What has annoyed me is the 2-3 day wait for money from a Raisin Easy Access account (I know it's not Instant Access). I'm closing my Raisin Easy Access account because of this and opening a Chip account with a better rate and Instant Access.