Which 1 year fixed savings account would you open TODAY?

jaypers

n3ophyte said:

Re: Charter Savings Bank - how long does it typically take for deposits to show up in their bond accounts? I transferred a big lump this afternoon from Santander and it hasn’t arrived yet.

I always do mine on a working day during the morning and they are usually credited early afternoon. There is a cut-off point where it becomes next working day. No activity will happen of a weekend or Bank Holiday. 

BooJewels

jaypers said:

n3ophyte said:

Re: Charter Savings Bank - how long does it typically take for deposits to show up in their bond accounts? I transferred a big lump this afternoon from Santander and it hasn’t arrived yet.

I always do mine on a working day during the morning and they are usually credited early afternoon. There is a cut-off point where it becomes next working day. No activity will happen of a weekend or Bank Holiday. 

As posted earlier, I opened a Charter fix last Friday evening, funded it during Saturday morning and it was credited to the fix during Saturday afternoon.  I've received a paper letter today, dated Sunday 24th March and confirming that my deposit was received on 23rd March and my maturity date would be 23rd March 2025.  So they appear to be functioning at weekends at the moment.

EthicsGradient

slinger2 said:

I can see a marginal advantage in having something that expires a year from now, rather than in May, in that you'd have the option of doing something with the money in the 2024/25 tax year, which might be beneficial (but perhaps not)

I have a multi-year account maturing in 2025/26, and so I know I can get interest in 2024/25 without paying tax, but not the year after that - so I am one who benefits from one expiring a year from now. I was going to add the Allica Bank Issue 58 at 5.23% to the list being considered here, but since I had my application for it accepted around 1pm today (but not yet funded), I see they've withdrawn it, and now advertise Issue 59 at 5.16%. Now to see if the small print allows me to get the 5.23% rate or not ...

n3ophyte

Re: Charter Savings Bank - I’m pleased to say my first deposit appeared in the bond account shortly after 3pm today as @BooJewels suggested. My 14 day funding window closes on 3rd April so it might be a struggle to get the rest in due to the pesky Easter Bank Holliday!  

poseidon1

Nice to see Charter Savings getting some love on the forum. They have been my go to for instant access and fixed savings for a number of years.

A._Badger

poseidon1 said:

Nice to see Charter Savings getting some love on the forum. They have been my go to for instant access and fixed savings for a number of years.

I agree. I've also been very satisfied with Charter - good rates and good service.

BooJewels

I went with them nearly a year ago as so many people here recommended them - ditto with Ford and First Save.  Just refreshed the Charter page for the 1 year fix and see that it's dropped 0.1% today - now 5.11% AER and 4.99% monthly.

mebu60

I took Secure Trust's 5.25% fix yesterday. My ladder is spread across Charter, Ford, NS&I and now Secure. 

subjecttocontract

As you are asking what I would do and not what I think you should do my answer won't necessarily be useful. I currently use the Raisin platform for all my fixed rate accounts. They aren't the best interest rates but once you are registered the ease of opening and operating accounts makes it worthwhile for me.