Bank best fix rate??

[pocahontas]

Kamusta.... Anyone pls can tell me a bank that giving a good deal rate for your money putting it in a fix rate..like so called TIME DEPOSIT back in philippines.. I think they say Fix rate here in uk..

MARAMING SALAMAT..

[deeen]

Well the best deals are changing all the time, as different banks have offers to tempt customers.

Sounds like you are looking for a fixed rate savings account, you can get just over 3% if you fix for 1 year or just over 4% if you fix for 4 years.

Do you just want to put one lump sum in? Or can you commit to a fixed amount each month?

Have a look at moneysavingexpert.com, click on banks, then savings.

If you are a UK tax payer, consider using an ISA, as the interest is tax exempt.

Personal opinion only... I would avoid Santander, or anything connected with Spain, at the moment.

Cheers Dean

[Terpe]

.. I would avoid Santander, or anything connected with Spain, at the moment.

Cheers Dean

Santander UK is as safe as any other UK bank since there is very substantial protection under the Financial Services Compensation Scheme (FSCS) which covers the first £85,000 of someone's savings in a bank.

Just my 2 centavos

[pocahontas]

Thanks deeenn.. I will keep in mind all ur advice... Even the husband told me to avoid santander ..he told me that first as its the first bank id like to go.. They offering 3.45% for your money a year..i just dont know here that if you decide your money to stay on..is that ok or you should just close the account after a year as a a chosen fix rate year.

[deeen]

You just need to be aware of what you are "buying".

Fixed rate savings account (or variable rate) with withdrawls is usually ongoing, just take note of any rate changes from the bank and check from time to time if you can get a better deal

Fixed rate, fixed term (1 to 4 years) usually reverts to a very low rate at the end of the term, and you should move your money

Watch out for deals that look good but include a bonus - usually the rate is not so good in the second year without the bonus, so move your money after the bonus period

So the first things to decide are - invest 1 lump sum, or monthly payments into savings?

Can you really do fixed term or might you need to withdraw (some accounts allow limited withdrawls even on fixed tem, sometimes with penalties)? How long can you "fix"?

If you decide exactly what you want to do first, that removes a lot of the choices, then you can search for the best deal for your circumstances.