Interest Rate Rises

[sanity clause]

Vanquis 4.81% 1 Year Fixed Rate Bond, min £1000
https://www.vanquissavings.co.uk/1-year ... ate-bonds/

[Sarah]

Shawbrook

Easy Access Account Issue 35
AER 3.65% Variable

https://www.shawbrook.co.uk/direct/savi ... sy-access/

[Richard Frost]

Nationwide

We’re pleased to let you know we’ll be increasing the rates on all our variable interest rate savings accounts on 1 May.

These rates will be available when you open any of the accounts below – and if you already have one, the new higher rate will automatically be applied.

1 Year Triple Access Online ISA Issue 14
1 Year Triple Access Online Saver Issue 15
Instant Access Saver Issue 11
Flex Instant Saver Issue 2
Start to Save Issue 2

[expressman33]

The best one-year fixed savings accounts - May 2023 --- You can now earn a table-topping 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now. https://moneyweek.com/personal-finance/ ... SmartBrief

[Luke_PieStalker]

Definitely another raise(s) in the pipeline for next month. The way rates have been creeping up to 5% for fixed bonds tells me they know something.

[sanity clause]

Investec Flexi Online Saver
https://savings.investec.com/online-flexi-saver

New rate from 1 May 2023

On balances £5,000 - £250,000

3.45% gross (variable) / 3.51% AER

[blythburgh]

I used to have no pity for the better paid when there was a rate rise. Let them drink less vino was my reaction as I felt there were plenty of ways they could cut back.

Now we have huge food price inflation, huge rises in mortgage payments per month. Essentials like childcare has gone up.

Now I have pity even for the better off as they are hit hard just like the poorer people.

And remember whether you are a basic rate tax payer, a higher rate tax payer then your tax allowance has not increased in recent years. More and more people are paying tax at the lower rate for the first time and more and more people are now paying tax on part of their income at the higher rate.

But for the fat cats it is a mere annoyance though of course, but for the majority of tax payers it hurts. But not to worry if you are fat cat you have not worries about your pension contributions bit a wall any more

[Sarah]

Ford Money

In line with Our Best Rate Guarantee we’re increasing the interest rate on our Flexible Saver effective 5th May 2023 as follows:

Current rate New higher rate
3.27% Gross 3.40% Gross

https://www.fordmoney.co.uk/savings-pro ... ible-saver

[Sarah]

BoE raises base rate for 12th time in succession.

it increased interest rates to 4.5% from 4.25% in an attempt to slow soaring price rises

https://www.bbc.co.uk/news/business-65554797

[Chadwick]

Now I have pity even for the better off as they are hit hard just like the poorer people.

Not quite. The difference between not being able to afford good seats at the theatre, and having to choose between heating or food is quite significant.