Banks set to cut rates in August. Get your fixed rate savings account now.

[Justin Passing]

Nationwide are currently doing 5.5% for 18 months.
Inflation is now "2%", if you hadn't seen the doublespeak.

 

[securespark]

Chase have just put theirs up to 5.1%.

While not as much as Nationwide, there is instant access.

 

[blup]

How could they decide that when the election results aren’t known? LTrus might become

 

[Murdochcat]

Anything after July the 5th is completely unknown

 

[Ihavenojob]

I'd be taking my money out of the bank and buying gold and silver if Labour get in.

 

[Murdochcat]

I'd be taking my money out of the bank and buying gold and silver if Labour get in.

IF , really

They are in already

 

[JohnD]

Chase have just put theirs up to 5.1%.

While not as much as Nationwide, there is instant access.

seems like a lot,

Is it a marketing gimmick?

If not fixed term, they might drop it once they have hooked enough punters.

 

[JohnD]

I'd be taking my money out of the bank and buying gold and silver if Labour get in.

Surely you did that when Truss got in?

 

[big-all]

seems like a lot,

Is it a marketing gimmick?

If not fixed term, they might drop it once they have hooked enough punters.

martin lewis was saying just that to get established as a new bank in the uk market

 

[Mottie]

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.

 

[big-all]

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

 

[Mottie]

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]

Watch out, you’ll be accuse of being a 'tax dodger' by some on here!

 

[noseall]

Surely you did that when Truss got in?

 

[big-all]

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

 

[Ihavenojob]

Surely you did that when Truss got in?

I do it all the time.