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Martin Lewis: Urgent warning for savers as base rate held at 5.25%
Comments
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refluxer said:Nova1307 said:
I haven't done the calculation but, at £85k, the effective rate will only be a small amount over the offered 6.1% I suspect and almost certainly not as high as 6.2%.
Update - I make it an effective rate of 6.13% for £85k @ 6.1% with £25 cashback.
If you deposit anything over £25k the NS&I rate of 6.2% will give you a better return. The £25 Welcome bonus is only worth it for deposits below £25k !
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ccluedo said:molerat said:You can bung it into NS&I with 30 days to change your mind.
What you can do is deposit now, and then cancel within 30 days. You then get your money back with interest and without penalty
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gussie5555 said:refluxer said:Nova1307 said:
I haven't done the calculation but, at £85k, the effective rate will only be a small amount over the offered 6.1% I suspect and almost certainly not as high as 6.2%.
Update - I make it an effective rate of 6.13% for £85k @ 6.1% with £25 cashback.
If you deposit anything over £25k the NS&I rate of 6.2% will give you a better return. The £25 Welcome bonus is only worth it for deposits below £25k !
And only if you have never held a Raisin account before.
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Sonia Swap rates give a better clue of current direction of travel for fixed rates than any particular base rate movement decision by BOE
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Hi all,
I think the raisin 6.1% 1-year fix account only allows one deposit?Also I couldn’t see how to get the £25 welcome bonus-does anyone know how to get that please?
Thanks in advance.0 -
bongoali said:I couldn’t see how to get the £25 welcome bonus-does anyone know how to get that please?
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bongoali said:Hi all,
I think the raisin 6.1% 1-year fix account only allows one deposit?Also I couldn’t see how to get the £25 welcome bonus-does anyone know how to get that please?
Thanks in advance.'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.1 -
My flipping Atom fix doesn't end until November - I can see rates having dropped off a fair bit by the time that comes around, and it's too far off to be able to open something that gives a 30 day funding window. Annoying!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
My Aldermore 1.40% 3 yr fix matures in 2 days.
Reinvested the money into their 3 yr fix paying 6.20% (Only available to people with maturing bonds.)1
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