Isbank through Raisin, 7 year fix savings rate 4.5%

[nomadheart]

Does anybody know anything about Isbank or Raisin?
Is this a good idea?

 

[christianseamstress]

@nomadheart 7 years!?

You can get 4% for a 1 year fixed at the moment. Fixing for 7 years for an extra .5% is madness

 

[gken]

@christianseamstress As someone else said, it's only madness of you think rates will remain high. What's more likely is that rates will start decreasing in a year or so, and in 3-4 years time 4.5% will seem like a pretty good rate (assuming you just want risk free savings).

In the same way that you wouldn't be crazy to go for a 5 year fixed rate mortgage at a higher rate than a 2 year fixed mortgage (assuming we were in a period of time where this was the case).

 

[dennis4love]

@christianseamstress It’s not madness though. That’s 7 years of guaranteed returns of 4.5%. I’d rather do that than invest in a BTL

 

[lorpro]

@dennis4love Think you’re only thinking of the income from a BTL, the big thing is the capital appreciation

 

[resjudicata]

@dennis4love Have you heard of capital appreciation

 

[simona30]

@christianseamstress Would you mind sharing where you can get 4%? Thanks!

 

[christianseamstress]

@simona30 Raisin, same bank OP mentioned, I think NS&I are not far off now either!

 

[simona30]

@christianseamstress Thank you!

 

[ionnaine]

@nomadheart I’m using Raisin for a 1 year fix for my current property deposit. It’s with Tamden Bank and is 4.5% running until November. 7 years makes no sense. I opened the Raisin account after reading it on Money Saving Expert so I’m confident it’s legitimate. He says…

 

[bubatuf]

@nomadheart Makes no sense to take this. Chances are you'll get a 12 month fix at over 5% soon.

 

[gagetowler927]

@bubatuf And what after that if the rates start dropping?

 

[jasmine_childoftheking]

@nomadheart Does this mean 4.5% per year for 7 years or 4.5% over 7 years

 

[lopolik]

@nomadheart Isbank is one of the biggest and one of the most trusted banks in Turkey. I, personally, trust that bank more than government banks.