Questions And Answers
Short term fixed rate savings
asked by Pete Clayson posted 2 Years ago at 10:51
Morning - I'm looking at taking out a short term fixed rate saving plan for £5k and came across the AA @ 3.6% 1 year bond. I have two questions, 1/ is it worth taking out a fixed rate at the moment? 2/ It says AA but the account is opperated by Birmingham Midshires so I'm a bit confused if its an AA policy or one with Birminhma Midshires and whats the actual difference? With reagrds consumer protection is it with the AA or Birmingham Midshires (sorry thats 3 questions) :)Pete C
1-2 of 2 Answers
Paul Hudson answered 2 Years ago at 9:48AA accounts are just a brand name for Birmingham Midshires which itself is a Bank of Scotland division. There is just one FSCS registration (i.e. one of of £85,000 protection) covering deposits with AA, Bank of Scotland, Birmingham Midshires, Halifax, Intelligent Finance, Saga and apparently certain Aviva products.
Paresh Shah answered 2 Years ago at 14:32Paul has answered your question about security. As for whether its best to wait or fix now is not an easy one to answer. Soem things to consider. Have you used your ISA allowances up ? Are you prepared to take a risk with the £5000?
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