Monzo / Oaknorth - Fixed Term Savings šŸ˜Ž

Monzo Chat
21

Personally I think that should be a proā€¦ As the interest rate cut isnā€™t too bad just to support Monzo with a little extra money :sunglasses:

1 Like
22

Thanks mate I should of read that partā€¦ my bad

1 Like
24

Is it the instant access thatā€™s more important to you?

26

Isnā€™t this a bit of bummer that you canā€™t add money once you have set the pot. I wish we can add the money to that pot once it is set up. Feel free to update me .

2 Likes
27

I think most, if not all, fixed savers operate that way

Thereā€™s more products to come

2 Likes
28
5 Likes
30

Iā€™m waiting 24 hours for some money to free itself up from Investec so I can lock it back down!

31

Scary low battery :battery: Emma!

2 Likes
32

Signed up for 12 months :+1:

33

Nope stayed with aldermore - flexible AND fixed - 2 or more cash ISAs at once and if you take money out you can put it back win win
Sorry Monzo

34

Different kinds of cash ISAs? Otherwise Iā€™m confused

The Monzo cash ISA is also flexible

35

My parents recently moved to Aldermore they lost a month navigating their archaic systems and waiting for the money to arrive.

36

1.55!!! Boom

This makes for a great option

Basically a carrot to lock a pot with a better interest rate than the easy access

Nice! Whereā€™s my access

38

Iā€™d have liked to see a little bit more for a locked pot at 12 months. 1.8% perhaps. 1.55% is available with withdrawals elsewhere (and I know that is obviously very competitive). Metro bank for example are offering 2% fixed for a year so it pays to shop around!

39

Is this normal of fixed term products? I know withdrawing is often with a penalty (but not impossible) and you always seem to be able to add to them over the term.

40

Iā€™ve never seen fixed term you can add to. Have you got a source?

1 Like
41

Most have 14 days to add to an account before rate locked in for that period.

If you need flexibility though Aldermore allow fixed and variable in same year a sort of split cash USA so some can be fixed and some variable but crucially money taken from the variable can be replaced same year - handy for tax bill saving with incurring more tax (especially if no personal savings allowance due to monster bill!)

Having said that would have done Monzo if offered similar

42

Are we able to add in an account?

These werenā€™t available last week so I set up a fixed term with ON directly. Be nice to see this in the Monzo app - especially seeing as they already have some partnership with them.

43

Ah, think I am getting confused with ā€˜notice accountsā€™!

1 Like
44

Am I reading this rightā€¦ you canā€™t even add extra moneyā€¦ :confused: