Martin Lewis: Urgent warning for savers as base rate held at 5.25%

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  • mebu60
    mebu60 Posts: 901 Forumite
    First Post First Anniversary Name Dropper
    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!  
    I have a fix maturing in a couple of weeks but drew down some EA funds to use for NS&I GGB now which will be replaced when the lump sum arrives. Did that yesterday just in case! 
  • ossie48
    ossie48 Posts: 248 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    With the NS&I @6.2% how do you physically get a large amount in online at one go. I'm limited to £30k a day but would like to put up to £100k in. 
  • ossie48 said:
    With the NS&I @6.2% how do you physically get a large amount in online at one go. I'm limited to £30k a day but would like to put up to £100k in. 
    You don't have to. You can open multiple bonds
  • ossie48
    ossie48 Posts: 248 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Janie2008 said:
    ossie48 said:
    With the NS&I @6.2% how do you physically get a large amount in online at one go. I'm limited to £30k a day but would like to put up to £100k in. 
    You don't have to. You can open multiple bonds
     Thanks, so you can open as many as you like, I'll get cracking over the next few days. 
  • 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.
    When opening the 6.1% account with Raisin you are asked how much you want to deposit. Once the account is open you transfer money to your Raisin holding account (can be multiple transfers), and once you reach the deposit figure the 6.1% account will be funded.
    Thanks.. so until you reach the deposit figure, I guess no interest is earned?
  • refluxer said:
    bongoali said:
    I couldn’t see how to get the £25 welcome bonus-does anyone know how to get that please?
    Click on the '£25 cashback for some' link in this MSE table. Before you do that though, you might want to have a look through the forum for threads on Raisin ;)


    Thanks for the info. I might be off the mark but I’m guessing they’re an absolute shower?
  • I've used them for a number of fixed rate accounts over the last year and found them excellent.
  • 2nd NS&I bond sorted.

    Even if rates start to go up again it makes sense to double up on this offer.
  • Doctor_Who
    Doctor_Who Posts: 908 Forumite
    First Post Name Dropper Photogenic First Anniversary
    edited 21 September 2023 at 8:21PM
    bongoali said:
    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.
    When opening the 6.1% account with Raisin you are asked how much you want to deposit. Once the account is open you transfer money to your Raisin holding account (can be multiple transfers), and once you reach the deposit figure the 6.1% account will be funded.
    Thanks.. so until you reach the deposit figure, I guess no interest is earned?
    Correct, there is no interest earned for money in the holding account. I tend to open an account and then immediately transfer the deposit amount to the holding account.
    refluxer said:
    bongoali said:
    I couldn’t see how to get the £25 welcome bonus-does anyone know how to get that please?
    Click on the '£25 cashback for some' link in this MSE table. Before you do that though, you might want to have a look through the forum for threads on Raisin ;)


    Thanks for the info. I might be off the mark but I’m guessing they’re an absolute shower?
    No, Raisin works well for me. If you want multiple fixed rate accounts all in one place (i.e. not having multiple logins etc) they work well and whilst the rates might not always be at the 'top of the table' they are pretty close.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • If it helps anyone else, I opened a Raisin 1 year bond earlier today via the link and deposited £10k to get the extra £25. Once registered I then referred my husband who opened a Raisin 1 year bond, we both then get £50 and he only needed to deposit £5k. So I got an extra £75 and my hubby got £50, makes it around 6.8% on £10k for me and 7.1% on £5k for hubby (correct me if I’m wrong 😁).
    Although @pedrodelgado I wish you had posted before I opened my account and I could have got you to refer me. I would only have needed to deposit £5k then and got £100 instead of £75 (your referral and then my referral to hubby), putting it at around 8.1% 😉.
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