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Birmingham Bank?

roses
Posts: 2,333 Forumite

Hi, does anyone have any experience of Birmingham Bank?
I am looking to lock away some savings in a fixed rate 3-5 year account and these guys seem to be offering the highest rate at the moment.
I'd never heard of them before they were recommended here.
I am looking to lock away some savings in a fixed rate 3-5 year account and these guys seem to be offering the highest rate at the moment.
I'd never heard of them before they were recommended here.
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Comments
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No experience, but
BIRMINGHAM BANK LIMITED overview - Find and update company information - GOV.UK and
Birmingham Bank acquired by global home ownership firm | TheBusinessDesk.com
may help in your due diligence research of them?
Isn't Google wonderful.0 -
FSCS is applicable. Wasn't the 85K limit going to be raised to 100K ?0
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Two things,One, Interest must be compounded, you will get taxed on all the interest in year 5. Ouch.Two, At 4.40% Atom are great, fast opening, funding and payouts. Plus interest can be paid away each year,so you pay tax each year, minus you tax free PSA of £1000 for 20% tax payers..2
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financies said:FSCS is applicable. Wasn't the 85K limit going to be raised to 100K ?1
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Birmingham Bank (FRN 204478)
https://www.birminghambank.com/
https://www.feefo.com/en-GB/reviews/birmingham-bank-limited0 -
Bigwheels1111 said:Two things,One, Interest must be compounded, you will get taxed on all the interest in year 5. Ouch.Two, At 4.40% Atom are great, fast opening, funding and payouts. Plus interest can be paid away each year,so you pay tax each year, minus you tax free PSA of £1000 for 20% tax payers..0
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