west brom 4.9%

northernstar007

decided to take the offer from west brom bs 18 months 4.9%, cant seeing rates going past that in 18 months but thats part of the gamble

DRS1

Not long ago their 18 month bond paid 4.61%. I thought that was good. Too late to move the money now.

aroominyork

Their rates are:

1 year fixed: 4.10%

18 months fixed: 4.90%

2 years fixed: 4.15%.

Strange indeed.

whimsicalilk

Yep this is the one for me too, been meaning to start saving for a while and I like the idea of the interest being paid out on the 31st December both years (six months of it this year, the other twelve next year) as a nice post-Christmas bonus. 4.90% seems really good and making me feel a bit less annoyed at missing out on the mega high rates we got in late 2023!

Only thing I noted was that at maturity, if they don't hear from you they might transfer the balance to another fixed rate bond of a similar or shorter term, rather than an easy access account like other companies do - meaning if you miss out on the notice your money gets potentially stuck for another year at whatever the rates are by then. It looks like at least there's a 21 day 'cooling off' time after maturity so you've got a bit of extra time to sort things out if there's any better options around by then.

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/82043442#Comment_82043442

If you're taxed on savings interest it might be better to go for monthly rather than the end of year payments, should the planned increase in interest tax go ahead in April.

northernstar007

there is a min balance of £1000 on this bond

northernstar007

is now no longer available

northernstar007

reopened again at the same rate 4.9% for 18 months

huw01

Just finished funding mine today, got it on the last day before it closed. Good to hear it's reopened. Website is nice and easy and faster payments aren't quite instantaneous but around an hour or so before they appear.

Better rate than anything else around, nothing on raisin that comes near it.

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/82064844#Comment_82064844

Marcus and Oxbury offer the same or better for slightly different duration, so I wouldn't say it's better than anything else around, but it's still a commendable rate.

huw01

https://forums.moneysavingexpert.com/discussion/comment/82064932#Comment_82064932

Yes marcus offer a 12 month fixed. 18 months suited me better, first time I've gone for anything longer than a 12 month fixed. I couldn't find anything comparable at Oxbury