Savings and Investments thread
Comments
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There is very likely (almost guaranteed) a rate rise on the 5th November but in the longer term rates will be reducing. I'm expecting base rate to be at or even below where we are now by the end of next year.blackpool72 said:I had an isa come up for renewal this week.
Ive taken the option of a one year at 4.5%.
A two or three year option would have given me 4.6 or 4.7 %.
But I can see interest rates rising over the next 12 months and I reckon this time next year a 12 month isa will be paying 5% or more.
All guesswork of course but that's what I've done.0 -
blackpool72 said:I had an isa come up for renewal this week.
Ive taken the option of a one year at 4.5%.
A two or three year option would have given me 4.6 or 4.7 %.
But I can see interest rates rising over the next 12 months and I reckon this time next year a 12 month isa will be paying 5% or more.
All guesswork of course but that's what I've done.Investec are currently paying 4.95% for a Cash ISA on a one year fix. Not sure whether or not the almost certain November interest rate rise has already been factored in to that percentage, but with forecasters predicting the possibility of four 0.25% rises next year then over 5% on a Cash ISA is almost certain.Investec are also paying 5% on a one year fix savings account - and First Active (Nat West) were paying 4.55% fixed for 12 month on an instant access account. That's down to 4.05% now as I believe they were knocked over in the rush!It's a good time for cash savers at the moment - however not so good for mortgage payers who I feel for as the squeeze on them at the moment is scary.0 -
Agree with all of that.bobmunro said:blackpool72 said:I had an isa come up for renewal this week.
Ive taken the option of a one year at 4.5%.
A two or three year option would have given me 4.6 or 4.7 %.
But I can see interest rates rising over the next 12 months and I reckon this time next year a 12 month isa will be paying 5% or more.
All guesswork of course but that's what I've done.Investec are currently paying 4.95% for a Cash ISA on a one year fix. Not sure whether or not the almost certain November interest rate rise has already been factored in to that percentage, but with forecasters predicting the possibility of four 0.25% rises next year then over 5% on a Cash ISA is almost certain.Investec are also paying 5% on a one year fix savings account - and First Active (Nat West) were paying 4.55% fixed for 12 month on an instant access account. That's down to 4.05% now as I believe they were knocked over in the rush!It's a good time for cash savers at the moment - however not so good for mortgage payers who I feel for as the squeeze on them at the moment is scary.
The reason I opted for a 4.5% one year option is because it was with the Nationwide BS.
Plenty of slightly better offers online as you point out but I don't know enough about them .
I prefer to use the Nationwide as I can walk into their Orpington branch and they set it all up for me.0 -
Any particular reason people are choosing cash over bonds? Considering you can get very good yields on bonds nowadays.0
