Atom bank 1 year fixed rate savings increased to 2.05%
1138°Expired

Atom bank 1 year fixed rate savings increased to 2.05%

150
Found 9th Jun
Ok, so not a massive jump from the previous rate of 1.95% but enough to get to the top of the 1 year fixed rate savings table.

No doubt there will be plenty of comments about the plight of the saver and pitiful interest rates around these days, arguments about how it's not worth locking it away as a rate increase is just around the corner, plenty of time machine comments regarding the days when rates were far higher, pints only cost £2 etc but this is currently the best rate available that I can see today so if it suits you like it suits me, enjoy
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It's a shame so many people believe 2% is a good return on your money. In 2016 I made 16.4% on my money, 12% in 2017, and even with Brexit in 2018 I'm still making more than any savings account.

I'm not gloating, I'm just stating no one ever got rich keeping money in a savings account. If you want to make money from your money put it into a stocks and shares ISA with a robo-advisor like Wealthify or Nutmeg.

Fees are around 0.7% which is nothing, and with compounding interest you'll see a huge return on your money. Try out say Wealthify and see what your return could be. No referral links from me, I just want people to know there's much better options out there.
That was a defensive introduction. Have some heat
pelaquin1 h, 30 m ago

It's a shame so many people believe 2% is a good return on your money. In …It's a shame so many people believe 2% is a good return on your money. In 2016 I made 16.4% on my money, 12% in 2017, and even with Brexit in 2018 I'm still making more than any savings account.I'm not gloating, I'm just stating no one ever got rich keeping money in a savings account. If you want to make money from your money put it into a stocks and shares ISA with a robo-advisor like Wealthify or Nutmeg.Fees are around 0.7% which is nothing, and with compounding interest you'll see a huge return on your money. Try out say Wealthify and see what your return could be. No referral links from me, I just want people to know there's much better options out there.


People making big % usually write off and never speak again about how much they lost when the stock market goes through the floor, only when things are ticking along nicely. Average it out over a lifetime and most normal people involved in stock market trading lose a lot more than they earn over time, even though they may be getting 17% or more for a time. And then they will pretend they got out at the "right time" (like that is going to happen when you are regularly making 17%). But they didn't. They just blocked it out like a bad memory and started again
"plenty of time machine comments regarding the days when rates were far higher, pints only cost £2 etc"

FIRST YORKSHIREMAN: Aye, very passable, that, very passable bit of risotto.
SECOND YORKSHIREMAN: Nothing like a good glass of Château de Chasselas, eh, Josiah?
THIRD YORKSHIREMAN: You're right there, Obadiah.
FOURTH YORKSHIREMAN: Who'd have thought thirty year ago we'd all be sittin' here drinking Château de Chasselas, eh?
FIRST YORKSHIREMAN: In them days we was glad to have the price of a cup o' tea.
SECOND YORKSHIREMAN: A cup o' cold tea.
FOURTH YORKSHIREMAN: Without milk or sugar.
THIRD YORKSHIREMAN: Or tea.
FIRST YORKSHIREMAN: In a cracked cup, an' all.
FOURTH YORKSHIREMAN: Oh, we never had a cup. We used to have to drink out of a rolled up newspaper.
SECOND YORKSHIREMAN: The best we could manage was to suck on a piece of damp cloth.
150 Comments
Thx for sharing
Thanks for sharing tempted with the 2.5% for 5 years. It’s for my kids anyway so don’t need access. But may do one year and see where things are in a year.
That was a defensive introduction. Have some heat
Nationwide just lowered one of my savings rates from 0.75 to 0.50%. I might go for this instead.
Edited by: "aitchem" 9th Jun
Reckon base rate will creep up in August but this should still be competitive in the short term.
So what would returns be on say £50k?
£1025 I take it?
Can you just open an account and whack the money in just like that?
I've only ever been with 1 bank since a kid & never really maximised my money via savings.
Rob_Deeley11 m ago

So what would returns be on say £50k? £1025 I take it?Can you just open an …So what would returns be on say £50k? £1025 I take it?Can you just open an account and whack the money in just like that?I've only ever been with 1 bank since a kid & never really maximised my money via savings.


Yes, usually interest will be added monthly or in one lump sum at the end of the 12 months
If any of you guys in your household are in receipt of working tax credits, child tax credits, the government offers a “right to save account”. You pay £50 a month and they top it up by a whopping 50% interest then you can take it out in 2 years or carry on for another 2 years.

Tax free. Doesn’t affect any kind of benefits.
Edited by: "timmyboy147" 9th Jun
Correct, you can invest up to £100,000
good deal - heat.
muffboy55 m ago

Correct, you can invest up to £100,000


Remember, only the first £85,000 is protected by FSCS per banking group, if they go bust. Not saying this is likely though.
"plenty of time machine comments regarding the days when rates were far higher, pints only cost £2 etc"

FIRST YORKSHIREMAN: Aye, very passable, that, very passable bit of risotto.
SECOND YORKSHIREMAN: Nothing like a good glass of Château de Chasselas, eh, Josiah?
THIRD YORKSHIREMAN: You're right there, Obadiah.
FOURTH YORKSHIREMAN: Who'd have thought thirty year ago we'd all be sittin' here drinking Château de Chasselas, eh?
FIRST YORKSHIREMAN: In them days we was glad to have the price of a cup o' tea.
SECOND YORKSHIREMAN: A cup o' cold tea.
FOURTH YORKSHIREMAN: Without milk or sugar.
THIRD YORKSHIREMAN: Or tea.
FIRST YORKSHIREMAN: In a cracked cup, an' all.
FOURTH YORKSHIREMAN: Oh, we never had a cup. We used to have to drink out of a rolled up newspaper.
SECOND YORKSHIREMAN: The best we could manage was to suck on a piece of damp cloth.
ianlash9th Jun

Remember, only the first £85,000 is protected by FSCS per banking group, …Remember, only the first £85,000 is protected by FSCS per banking group, if they go bust. Not saying this is likely though.


anything is likely nowadays
Is there an early withdrawal penalty? What is it?
chadders063 h, 6 m ago

Thanks for sharing tempted with the 2.5% for 5 years. It’s for my kids a …Thanks for sharing tempted with the 2.5% for 5 years. It’s for my kids anyway so don’t need access. But may do one year and see where things are in a year.


No point doing that. Base rate will have risen by then. 1 yr is fine. Locking yourself in for 5 is silly.
mtuk110 m ago

No point doing that. Base rate will have risen by then. 1 yr is fine. …No point doing that. Base rate will have risen by then. 1 yr is fine. Locking yourself in for 5 is silly.


Agree, i have just joined and thrown a lump into it, i think the base will increase very soon!
slysy42 m ago

Is there an early withdrawal penalty? What is it?


says you can't withdraw until maturity. best not to lock away vast sums if you might need access down the line.
chadders064 h, 3 m ago

Thanks for sharing tempted with the 2.5% for 5 years. It’s for my kids a …Thanks for sharing tempted with the 2.5% for 5 years. It’s for my kids anyway so don’t need access. But may do one year and see where things are in a year.


5 years no way, interest rates may be higher long before that

Hot!
Edited by: "cullies" 9th Jun
mtuk156 m ago

No point doing that. Base rate will have risen by then. 1 yr is fine. …No point doing that. Base rate will have risen by then. 1 yr is fine. Locking yourself in for 5 is silly.


How do you know are you working for the bank of England?
Sebastian_D13 m ago

How do you know are you working for the bank of England?


Bank of England don't even know what they are doing these days...
Rob_Deeley3 h, 21 m ago

So what would returns be on say £50k? £1025 I take it?Can you just open an …So what would returns be on say £50k? £1025 I take it?Can you just open an account and whack the money in just like that?I've only ever been with 1 bank since a kid & never really maximised my money via savings.


Note this would take you over your personal savings allowance so you would pay tax on other savings interest. If you are a large cash saver then you need a mix of regular savings accounts and cash ISA savings to maximise your savings.
Sebastian_D35 m ago

How do you know are you working for the bank of England?


mtuk1 is completely right. I’m going to go with a 1 year fix, will prob set up a couple so just in case I need to access 1 then I’m not sacrificing the whole interest
Al-Rayan Bank gives 1.85% and invests ethically (no p0rn, guns, gambling etc).

alrayanbank.co.uk/sav…ts/
zaheer200312 m ago

Al-Rayan Bank gives 1.85% and invests ethically (no p0rn, guns, gambling …Al-Rayan Bank gives 1.85% and invests ethically (no p0rn, guns, gambling etc).https://www.alrayanbank.co.uk/savings/fixed-term-deposits/


If you want a Sharia compliant account, then you're better off going for 2% with Gatehouse Bank: milestonesavings.co.uk/pro…sit
dewonderful2 h, 37 m ago

"plenty of time machine comments regarding the days when rates were far …"plenty of time machine comments regarding the days when rates were far higher, pints only cost £2 etc"FIRST YORKSHIREMAN: Aye, very passable, that, very passable bit of risotto. SECOND YORKSHIREMAN: Nothing like a good glass of Château de Chasselas, eh, Josiah? THIRD YORKSHIREMAN: You're right there, Obadiah. FOURTH YORKSHIREMAN: Who'd have thought thirty year ago we'd all be sittin' here drinking Château de Chasselas, eh? FIRST YORKSHIREMAN: In them days we was glad to have the price of a cup o' tea. SECOND YORKSHIREMAN: A cup o' cold tea. FOURTH YORKSHIREMAN: Without milk or sugar. THIRD YORKSHIREMAN: Or tea. FIRST YORKSHIREMAN: In a cracked cup, an' all. FOURTH YORKSHIREMAN: Oh, we never had a cup. We used to have to drink out of a rolled up newspaper. SECOND YORKSHIREMAN: The best we could manage was to suck on a piece of damp cloth.



Forget about £2 for a pint. I remember when bitter from Trough Brewery was 99p a pint in Bradford city centre pubs. But you try to tell the young of today - they won't believe you!
It's a shame so many people believe 2% is a good return on your money. In 2016 I made 16.4% on my money, 12% in 2017, and even with Brexit in 2018 I'm still making more than any savings account.

I'm not gloating, I'm just stating no one ever got rich keeping money in a savings account. If you want to make money from your money put it into a stocks and shares ISA with a robo-advisor like Wealthify or Nutmeg.

Fees are around 0.7% which is nothing, and with compounding interest you'll see a huge return on your money. Try out say Wealthify and see what your return could be. No referral links from me, I just want people to know there's much better options out there.
Sebastian_D1 h, 45 m ago

How do you know are you working for the bank of England?


It’s obvious. Interest rates have been ultra low for too long. They will have to go up at some point.
pelaquin13 m ago

It's a shame so many people believe 2% is a good return on your money. In …It's a shame so many people believe 2% is a good return on your money. In 2016 I made 16.4% on my money, 12% in 2017, and even with Brexit in 2018 I'm still making more than any savings account.I'm not gloating, I'm just stating no one ever got rich keeping money in a savings account. If you want to make money from your money put it into a stocks and shares ISA with a robo-advisor like Wealthify or Nutmeg.Fees are around 0.7% which is nothing, and with compounding interest you'll see a huge return on your money. Try out say Wealthify and see what your return could be. No referral links from me, I just want people to know there's much better options out there.


What you’re saying is true, but it depends on your appetite for risk. Not everyone wants to invest in the stock market. Trouble is, unless you do, you’re interest rate at the bank will be losing you money. I don’t think many people believe 2% is a good rate, it’s just one of the best on offer at the moment.
Edited by: "mtuk1" 9th Jun
pelaquin1 h, 30 m ago

It's a shame so many people believe 2% is a good return on your money. In …It's a shame so many people believe 2% is a good return on your money. In 2016 I made 16.4% on my money, 12% in 2017, and even with Brexit in 2018 I'm still making more than any savings account.I'm not gloating, I'm just stating no one ever got rich keeping money in a savings account. If you want to make money from your money put it into a stocks and shares ISA with a robo-advisor like Wealthify or Nutmeg.Fees are around 0.7% which is nothing, and with compounding interest you'll see a huge return on your money. Try out say Wealthify and see what your return could be. No referral links from me, I just want people to know there's much better options out there.


People making big % usually write off and never speak again about how much they lost when the stock market goes through the floor, only when things are ticking along nicely. Average it out over a lifetime and most normal people involved in stock market trading lose a lot more than they earn over time, even though they may be getting 17% or more for a time. And then they will pretend they got out at the "right time" (like that is going to happen when you are regularly making 17%). But they didn't. They just blocked it out like a bad memory and started again
Good deal OP, nice to see a one year savings account break the 2% barrier for the first time in years.

No withdrawals at all, without losing that interest is a no no for me though.

Still heat added, may suit some folk.
Edited by: "DonkeyKonk" 9th Jun
zaheer20032 h, 55 m ago

Al-Rayan Bank gives 1.85% and invests ethically (no p0rn, guns, gambling …Al-Rayan Bank gives 1.85% and invests ethically (no p0rn, guns, gambling etc).https://www.alrayanbank.co.uk/savings/fixed-term-deposits/



Who cares ethical or not, it's about the "return interest rate". Nothing wrong with p0rn and gambling anyway you prude
dewonderful52 m ago

People making big % usually write off and never speak again about how …People making big % usually write off and never speak again about how much they lost when the stock market goes through the floor, only when things are ticking along nicely. Average it out over a lifetime and most normal people involved in stock market trading lose a lot more than they earn over time, even though they may be getting 17% or more for a time. And then they will pretend they got out at the "right time" (like that is going to happen when you are regularly making 17%). But they didn't. They just blocked it out like a bad memory and started again


It's only anecdotal evidence, but my mum and grandfather have both used investment firms for their respective pensions and have both made money.
I remember when ICICI were doing 8%. Those were some good days especially I had not loans, commitments or mortgages!! I plundered in there and every April was very sweet indeed!!
Great rate but App only provider.
Sharpharp49 m ago

Who cares ethical or not, it's about the "return interest rate". Nothing …Who cares ethical or not, it's about the "return interest rate". Nothing wrong with p0rn and gambling anyway you prude


I care that your savings are not protected......
davidridge12 m ago

I care that your savings are not protected......


??? You need to go check your medication. Atom has FSCS protection
robm6121 h, 4 m ago

It's only anecdotal evidence, but my mum and grandfather have both used …It's only anecdotal evidence, but my mum and grandfather have both used investment firms for their respective pensions and have both made money.


Well most pension schemes are stocks and share based (usually with bonds). What your pension was not is a 12 month investment.

You would struggle to find a financial advisor who thinks a stocks and shares investment over 12 months is a good idea.

Most wealthy people would tell you a wide range of investments is the way to go.
dewonderful6 h, 31 m ago

"plenty of time machine comments regarding the days when rates were far …"plenty of time machine comments regarding the days when rates were far higher, pints only cost £2 etc"FIRST YORKSHIREMAN: Aye, very passable, that, very passable bit of risotto. SECOND YORKSHIREMAN: Nothing like a good glass of Château de Chasselas, eh, Josiah? THIRD YORKSHIREMAN: You're right there, Obadiah. FOURTH YORKSHIREMAN: Who'd have thought thirty year ago we'd all be sittin' here drinking Château de Chasselas, eh? FIRST YORKSHIREMAN: In them days we was glad to have the price of a cup o' tea. SECOND YORKSHIREMAN: A cup o' cold tea. FOURTH YORKSHIREMAN: Without milk or sugar. THIRD YORKSHIREMAN: Or tea. FIRST YORKSHIREMAN: In a cracked cup, an' all. FOURTH YORKSHIREMAN: Oh, we never had a cup. We used to have to drink out of a rolled up newspaper. SECOND YORKSHIREMAN: The best we could manage was to suck on a piece of damp cloth.


I was happier then and I had nothin'. We used to live in this tiny old house with great big holes in the roof
SECOND YORKSHIREMAN:
House! You were lucky to live in a house! We used to live in one room, all twenty-six of us, no furniture, 'alf the floor was missing, and we were all 'uddled together in one corner for fear of falling
THIRD YORKSHIREMAN:
Eh, you were lucky to have a room! We used to have to live in t' corridor!
FIRST YORKSHIREMAN:
Oh, we used to dream of livin' in a corridor! Would ha' been a palace to us. We used to live in an old water tank on a rubbish tip. We got woke up every morning by having a load of rotting fish dumped all over us! House? Huh
FOURTH YORKSHIREMAN:
Well, when I say 'house' it was only a hole in the ground covered by a sheet of tarpaulin, but it was a house to us
SECOND YORKSHIREMAN:
We were evicted from our 'ole in the ground; we 'ad to go and live in a lake.
Hot because I heard it from you before Martin Lewis.
Sharpharp1 h, 23 m ago

??? You need to go check your medication. Atom has FSCS protection


Alrayan bank doesn’t ......
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