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Nationwide are currently doing 5.5% for 18 months.
Inflation is now "2%", if you hadn't seen the doublespeak.
Inflation is now "2%", if you hadn't seen the doublespeak.
Banks set to cut rates in August. Get your fixed rate savings account now.
- Thread starter Justin Passing
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Chase have just put theirs up to 5.1%.
While not as much as Nationwide, there is instant access.
While not as much as Nationwide, there is instant access.
Anything after July the 5th is completely unknown
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I'd be taking my money out of the bank and buying gold and silver if Labour get in.
seems like a lot,
Is it a marketing gimmick?
If not fixed term, they might drop it once they have hooked enough punters.
Surely you did that when Truss got in?
martin lewis was saying just that to get established as a new bank in the uk market
My 1yr 5.77% fixed rate bond ends in July and if I don’t switch, it automatically switches to their 1 yr 4.89% fixed rate bond (interest paid monthly). Same company but my 1yr 5.1% fixed rate ISA ends in July too and that will go into a 4.7% 1yr fixed rate ISA too if I do nothing.
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as an asside
if you have non isa saving off around £19.400 you are at risk off exceeding your £1000 tax free amount at more than 5.1[£989]
iff you have an interest monthly paid account the tax is due in the year its generated [this year till april]
the same account with yearly interest will pass all the interest to the next financial year
whilst say 5.1% is greater than 5% and worth while having iff you have to go to a different provider open a new account with all the hassle it can often be not worth the time complication and effort
for example 5K at 5% for a year is £250 where as 5.1% is an extra £5 for the whole year extra
if you have non isa saving off around £19.400 you are at risk off exceeding your £1000 tax free amount at more than 5.1[£989]
iff you have an interest monthly paid account the tax is due in the year its generated [this year till april]
the same account with yearly interest will pass all the interest to the next financial year
whilst say 5.1% is greater than 5% and worth while having iff you have to go to a different provider open a new account with all the hassle it can often be not worth the time complication and effort
for example 5K at 5% for a year is £250 where as 5.1% is an extra £5 for the whole year extra
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Watch out, you’ll be accuse of being a 'tax dodger' by some on here!
sort off was a little bit in a thread i started in march to find out how close you can get and whether it was voluntary to declare if you think your close
all i was trying to do is get as close to the £1000 without going over as getting near to 1k again will never happen again with interest set to drop below 5% and gradually drop further so iff necessary chose maturing in the next tax year
i was trying to do it with the minimum off effort for maximum returns but pay all my dues
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I do it all the time.