Savings interest rate thread

[BishBosh]

981Boxess said:

They know the BOE rate is about to come down.

Yes, but all the rates are coming down any way. At least this tracks above the base rate...

[NRG1976]

BishBosh said:

981Boxess said:

They know the BOE rate is about to come down.

Yes, but all the rates are coming down any way. At least this tracks above the base rate...

I think you’re missing the point. You can take a 1 year bond and earn 5.18% for a whole year despite what base rate does.

[BishBosh]

NRG1976 said:

BishBosh said:

981Boxess said:

They know the BOE rate is about to come down.

Yes, but all the rates are coming down any way. At least this tracks above the base rate...

I think you’re missing the point. You can take a 1 year bond and earn 5.18% for a whole year despite what base rate does.

Ok.

[markiii]

NRG1976 said:

BishBosh said:

This looks interesting, 5.6% 1 year fixed tracker account, open the account then immediately give notice to withdraw. Minimum £15K.

Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.

https://www.thisismoney.co.uk/money/saving/article...

That looks like the absolute worst of both worlds, effectively locked in for a year with a rate that will follow BoE base down.

Agreed

[981Boxess]

NRG1976 said:

BishBosh said:

981Boxess said:

They know the BOE rate is about to come down.

Yes, but all the rates are coming down any way. At least this tracks above the base rate...

I think you’re missing the point. You can take a 1 year bond and earn 5.18% for a whole year despite what base rate does.

Spot on.

[asfault]

T212 sent me a message about their cash isa being open now. already have a stocks isa so literally took me 10 seconds to open it.

[bmwmike]

asfault said:

T212 sent me a message about their cash isa being open now. already have a stocks isa so literally took me 10 seconds to open it.

I've got the option on the app, but not had any message yet. Think I'll wait till someone reads the T&C's for me haha

From April this year its ok to open as many ISAs as you like across different providers as long as you don't go over 20k I think.

[asfault]

bmwmike said:

asfault said:

T212 sent me a message about their cash isa being open now. already have a stocks isa so literally took me 10 seconds to open it.

I've got the option on the app, but not had any message yet. Think I'll wait till someone reads the T&C's for me haha

From April this year its ok to open as many ISAs as you like across different providers as long as you don't go over 20k I think.

Yeah I put £50 in jsut to get it going. have a chunk I could put in from 4.1% so a nice bit extra per month but im going to wait and see or until a review of it comes out.

[Whistle]

Anyone used Habib Bank Zurich plc @ 5.21% for a 1 year fix.

I have around £30K to move from Santander’s old 5.2% account.

[Rufus Stone]

If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.

[Gas1883]

Rufus Stone said:

If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.

Thankyou , will look at that as bank with nationwide

[Rufus Stone]

I've done one. Was quick and easy.

[ferret50]

Gas1883 said:

Rufus Stone said:

If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.

Thankyou , will look at that as bank with nationwide

Snag is that they appear to hold interest until the term is up, if it were monthly paid interest, or an option, it would be of more interest.

[paulguitar]

ferret50 said:

it would be of more interest.

As it were

[ferret50]

paulguitar said:

ferret50 said:

it would be of more interest.

As it were

[durbster]

ferret50 said:

Gas1883 said:

Rufus Stone said:

If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.

Thankyou , will look at that as bank with nationwide

Snag is that they appear to hold interest until the term is up, if it were monthly paid interest, or an option, it would be of more interest.

Why does this matter if you have a fixed amount and a fixed period?

[ferret50]

durbster said:

ferret50 said:

Gas1883 said:

Rufus Stone said:

If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.

Thankyou , will look at that as bank with nationwide

Snag is that they appear to hold interest until the term is up, if it were monthly paid interest, or an option, it would be of more interest.

Why does this matter if you have a fixed amount and a fixed period?

Because the monthly payment would be of more interest to me than waiting until the term ended to get me mitts on my earnings.

[paulguitar]

Just a quick question.


I opened an ISA account this year on April 4th and another on April 6th. I thought I'd get a £20,000 allowance for 2023-24 on the one I opened on April 4th and the same for the current tax year for the one I opened on April 6th.


Is this the case?


TIA.

[asfault]

Did you actually put 20000 in the 4th of April one?

[rossub]

paulguitar said:

Just a quick question.


I opened an ISA account this year on April 4th and another on April 6th. I thought I'd get a £20,000 allowance for 2023-24 on the one I opened on April 4th and the same for the current tax year for the one I opened on April 6th.


Is this the case?


TIA.

Yes, but by close of play on the 5th April that first account was closed to 23/24 deposits. Anything deposited into it after that is from the 24/25 allowance.