United Trust Bank

rnsoffice

So why is there no mention of 'United Trust Bank' which is apparently offering 5% on a 6 month tided in tracker this is currently paying 5% and will go up (and down, ha ha) with the current Bank of England's base rate.

Doctor_Who

Can you provide a link? I've looked on their website and can only see the fixed rate and notice accounts, I can't see any that are linked to the BOE base rate.

Edit: found it hidden under the notice accounts.

5% AER, tracks the BOE base rate, 6 month notice......quite an odd account!

6 month fixes are ~ 5.35%, so UTB would need another BOE rise to be competitive. Not something I'd be interested in, but some might.

https://www.utbank.co.uk/deposits/personal/personal-notice-accounts/

bristolleedsfan

Doctor_Who said:

Can you provide a link? I've looked on their website and can only see the fixed rate and notice accounts, I can't see any that are linked to the BOE base rate.

Under notice accounts

Tracker Accounts

UTB 180 Day Notice Base Rate Tracker – 5.00% Gross/AER

https://www.utbank.co.uk/deposits/personal/personal-notice-accounts/

The interest rate tracks the Bank of England Base Rate, currently 5.00%, for the duration of the account being open

rnsoffice

Dr-Who; Yes the 6m Acc is higher now, but in a month or two time I bet you'd be locked into an Acc paying less that this tracker Acc. I'm sure we all realise the BOE are going to have to raise interest rates at least two more times this year.

Doctor_Who

rnsoffice said:

Dr-Who; Yes the 6m Acc is higher now, but in a month or two time I bet you'd be locked into an Acc paying less that this tracker Acc. I'm sure we all realise the BOE are going to have to raise interest rates at least two more times this year.

I was just using the 6 month fix as a comparison to the account you mentioned, your post implied you wanted comments. I am well aware that the base rate may rise again, but it's not guaranteed until it happens. I have a bond ladder where one year bonds (currently ~6%) mature each month, so no need for a 6 month fix or notice account. If the UTB account works for your requirements then go for it!

rnsoffice

>>a bond ladder where one year bonds (currently ~6%) mature each month<< That sounds a really good plan. Yes I was most definitely looking for comments on my first post, and your feedback is much appreciated, sorry if my reply was a little derogatory.