6% fixed savings

bristolleedsfan

PeskyBlunder said:

There was an article in the Guardian (Money section) the other day that claimed: "If a consumer locks their money away for 12 months, they can get rates as high as 7% at some big banks." Not that I'm aware of...

Being as the article did not mention a specific deposit amount and was quoting MoneyFacts data within the article, clearly referring to First Direct regular saver which does require deposits to be locked away for 12 months.

paul_c123

A quick search on moneysupermarket.com across all savings accounts shows the headline highest interest rate is 7.5% AER, that's for a Skipton Building Society Member (Branch) Regular Saver Issue 2. Of course, it comes with caveats - its £1-£3000 balance, you need to already be a Skipton BS member, and its a regular saver account - put up to £250 in each month, for 12 months.

As a general rule, fixed terms are going to pay slightly more than instant access/notice accounts; and regular saver accounts are going to have higher interest too. Sometimes the lower end of deposit amount has a higher rate, too.

The other account worth mentioning is limited access - usually 2-4 withdrawals per year only. Or the nuclear option of closing it (and maybe losing all the interest).

adindas

CaptainWales said:

...do you think we will be seeing this anytime soon? 

CaptainWales said:

Im going to give it a week or so before taking the plunge 

Well why wait if you could get right now the interest of 9%, 7.5%, 7%, 6.50%, 6.25%, 6,17%. But there is a caveat for this that you will need to find out by yourself 

buyhighselllow

6% now available on 5 yr fix

Bigwheels1111

You can get 6% now for 4 or 5 year fixed.

fatbelly

6% here

https://portal.jnbank.co.uk/saving/fixed-term

CaptainWales

Never heard of this bank, are they fscs protected?

Bigwheels1111

CaptainWales said:

Never heard of this bank, are they fscs protected?

It’s posted on MSE main site so yes.

VNX

adindas said:

CaptainWales said:

...do you think we will be seeing this anytime soon? 

CaptainWales said:

Im going to give it a week or so before taking the plunge 

Well why wait if you could get tight now, the interest of 9%, 7.5%, 7%, 6.50%, 6.25%, 6,17%. But there is a caveat for this that you will need to find out by yourself 

Can’t deposit much into regular savers mind you

badger09

VNX said:

adindas said:

CaptainWales said:

...do you think we will be seeing this anytime soon? 

CaptainWales said:

Im going to give it a week or so before taking the plunge 

Well why wait if you could get tight now, the interest of 9%, 7.5%, 7%, 6.50%, 6.25%, 6,17%. But there is a caveat for this that you will need to find out by yourself 

Can’t deposit much into regular savers mind you

That depends on your definition of ‘much’, and how many RS you have.