Savings interest rate thread

[981Boxess]

rossub said:

Even the best 1 year fixes are sub 4.7%, so you're not likely to lose out that much later in the year by going easy access at 5% +

Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 12 - 5.05%

[rossub]

981Boxess said:

rossub said:

Even the best 1 year fixes are sub 4.7%, so you're not likely to lose out that much later in the year by going easy access at 5% +

Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 12 - 5.05%

If you're a customer of Virgin...

[981Boxess]

rossub said:

981Boxess said:

rossub said:

Even the best 1 year fixes are sub 4.7%, so you're not likely to lose out that much later in the year by going easy access at 5% +

Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 12 - 5.05%

If you're a customer of Virgin...

"This account is only available for existing or new Virgin Money current account holders - non-customers may feel it is worth opening one to secure this rate"

[rossub]

I dunno. Opening bank accounts left, right & centre to get slightly better rates doesn't sit that well with me.

As someone pointed out, it's a hard search on your credit file each time. Though I suppose 1 extra current account wouldn't be that bad.

[NickZ24]

no bank is a safe investment.
IMHO there is no safe investment really.
Safer is to buy land, have Gold, germs.

[981Boxess]

rossub said:

I dunno. Opening bank accounts left, right & centre to get slightly better rates doesn't sit that well with me.

As someone pointed out, it's a hard search on your credit file each time. Though I suppose 1 extra current account wouldn't be that bad.

Fair enough - but if you had a significant amount of money to put in them (not saying I have or you haven't) the only way to max your interest income would have been to do just that, certainly in the time this thread has been running.

Banks rely on savers being lazy and badly informed, even though they have everything at their disposal to not be today.

[NerveAgent]

NickZ24 said:

no bank is a safe investment.
IMHO there is no safe investment really.
Safer is to buy land, have Gold, germs.

Which germs do you recommend? My 1 year old is investing heavily in these at nursery.

[NerveAgent]

rossub said:

I dunno. Opening bank accounts left, right & centre to get slightly better rates doesn't sit that well with me.

As someone pointed out, it's a hard search on your credit file each time. Though I suppose 1 extra current account wouldn't be that bad.

Agree, people must have a trail of bank accounts, apps, logins etc to keep chasing rates. Cba with that personally, but don’t tend to keep that much in cash.

[rossub]

981Boxess said:

Banks rely on savers being lazy and badly informed, even though they have everything at their disposal to not be today.

Just to be clear, I was talking about multiple current accounts as opposed to savings accounts. I have no issue with having a number of savings accounts as obviously they don’t require a credit search.

[Teatowell]

rossub said:

Just to be clear, I was talking about multiple current accounts as opposed to savings accounts. I have no issue with having a number of savings accounts as obviously they don’t require a credit search.

Savings accounts will run a soft search. How do you think they ID&V you otherwise?

[981Boxess]

rossub said:

981Boxess said:

Banks rely on savers being lazy and badly informed, even though they have everything at their disposal to not be today.

Just to be clear, I was talking about multiple current accounts as opposed to savings accounts. I have no issue with having a number of savings accounts as obviously they don’t require a credit search.

If only Pablo Escobar had known

[rossub]

Teatowell said:

Savings accounts will run a soft search. How do you think they ID&V you otherwise?

Ok, but has no impact on your score.

[NRG1976]

It all comes down to whether you can be bothered or not.

[markiii]

As in life generally the not bothered donr get the benefit.

[NerveAgent]

markiii said:

As in life generally the not bothered donr get the benefit.

Hmmm investing rather than chasing cash savings rates has been much more profitable for me.

[markiii]

It is likely to be. But fot the cash funds you want to leave in cash. Effort is required. Not that frankly I've found it much effort in the modern age

[Rufus Stone]

My 5.1% fixed cash ISA comes to an end next month. Any paying at least 5.0% available to reinvest?

[Bobtherallyfan]

Rufus Stone said:

My 5.1% fixed cash ISA comes to an end next month. Any paying at least 5.0% available to reinvest?

Best I could find a a week ago was Shawbrook at 4.72% fixed for 1 year.

[mark seeker]

Hoist Finance (via Raisin) had dropped their interest rate to 4.75%, it is now up again to 4.95% (although Raisin still have Paragon offering 5%)...

This not for a Cash ISA sadly.

[durbster]

Rufus Stone said:

My 5.1% fixed cash ISA comes to an end next month. Any paying at least 5.0% available to reinvest?

Oaknorth are offering 5% fixed rates:
https://oaknorth.co.uk/personal-savings/fixed-term...

The 1Y was 5.11% a couple of weeks ago (we grabbed that) so I dunno how long they'll stay above 5.

Edited by durbster on Friday 3rd May 07:48