Are there signs a savings account bank will be solvent, in two years time?

Albermarle

pw23 said:

xylophone said:

but understand that there is the possibility they could go bust before the end of my two year fixed term 

Have you information/evidence to back up your "understanding"?

No, I just thought that was the reason why everyone says to spread your investments out
Why else would they jeopardise interest by putting part of the money in a lower yielding fixed account?

The chance of a bank going bust in the UK, even a small one, is pretty low. In any case if a small bank was in trouble they would probably just get swallowed up by another bank and your money would still be OK.

So the risk involved with having more than £85K with one bank is low, but the general view is why take the risk.
On the other hand if it the bank is HSBC, or Barclays etc the risk is perceived as being almost non existent, as they would get bailed out by the Government ( see 2008) .

pw23

Okay, so now I appreciate more that my £23k will be safe over the one year fixed term, I wanted other opinions on the best choice out of the following two:

Metro bank at 5.8%
Or
Al Rayann at 5.7%

which would you be more comfortable saving £23k in?
Or would you put the money elsewhere? I've already used up my 85K savings, security, and with no ISA remaining

MX5huggy

pw23 said:

Okay, so now I appreciate more that my £23k will be safe over the one year fixed term, I wanted other opinions on the best choice out of the following two:

Metro bank at 5.8%
Or
Al Rayann at 5.7%

which would you be more comfortable saving £23k in?
Or would you put the money elsewhere? I've already used up my 85K savings, security, and with no ISA remaining

There’s no difference with “comfort” they are both protected by the £85k guarantee, Metro bank is paying the better rate go for them.

You do still seem confused about the £85000 guarantee. It’s per institution so you can save £85k in 10 separate banks meaning your £850000 is all protected.