Prosper Investment and Savings Platform 12mth FSCS Tracker 5.78%

drphila

Never come across this before but found it on the p2p indie forum (thanks to dave4). In addition to the tracker, they offer no fee investments (til end July).

I'm not in the market for either savings or investments so only given it a cursory glance but may be of interest to others.

https://www.prosper.co.uk/

https://www.thisismoney.co.uk/money/saving/article-13392229/Get-5-6-quirky-365-day-notice-savings-deal-beats-one-year-fixes.html

EthicsGradient

it is, as This Is Money says, "quirky" - a 365 day notice account tracking the BoE base rate (gross is .35% above; AER a bit more). So if you opened it and immediately gave notice, it'd be like a 1 year account, but you're betting on the average interest rate staying above the fixed rate available (current best is 5.21% as far as I can tell).

If the base rate falls no more than 1% in the next 12 months, you'll probably do better with this (BoE rate looks like it'll stay the same until 20 June or 1 Aug, then start falling). Could depend on the election result, of course ...

flaneurs_lobster

Discussed on the Notice Accounts thread a week ago.

https://forums.moneysavingexpert.com/discussion/comment/80771396/#Comment_80771396  onwards.

Consensus seemed to be that it was interesting but £15K min was a bit rich and it was very difficult to get the specific T&Cs from their site.

gravel_2

I got half way through signing up out of interest and it had referred me to some partner wealth manager and signing up mandated that they could market to me by any possible means. I stopped at that point.

artyboy

There was a time around 10-15 years ago when base rate tracker bonds were all the rage - but back then they tended to track at a healthy premium to base - Santander and Investec both had ones paying about 2% above IIRC.

Very very very nice for arbitrage (stoozing?) if you had spare headroom in an offset mortgage. This one... it's not a bad rate in absolute terms but it won't make me a profit like in the old days...