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MSE News: Derbyshire launches highest-paying easy access savings in 20 months

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Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in Savings & investments
This is the discussion thread for the following MSE News Story:

"The society has today launched the top easy-access savings rate for nearly two years ..."
Read the full story:

Derbyshire launches highest-paying easy access savings in 20 months


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Comments

  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
    thats not bad that isn't. Looks like savings rates are finally starting to improve :) Horrah!
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    Applied, have to wait until tonight to post because of having to send in Proof of Name and Proof of Address though.
    Thanks MSE!
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • talexuser
    talexuser Posts: 3,531 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    That's good news. Thanks for the notice.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    Well that went well. Until I tried to print the form and it told me to insert the printer software CD into the computer.

    Bad enough trying to find the computer, let alone the printer software CD.

    Anyway, all I've got to do now is post the online application (huh) to the Derbyshire in Dunfermline (huh). Why so messy? Why can't I just log in to Nationwide and click on "I'd like one of these please" and then transfer some money in?
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    Just opened an account with them too! It only took a minute! :j:j
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • Pollycat
    Pollycat Posts: 35,779 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Savvy Shopper!
    I got quite excited about this as I'm looking for somewhere to put some of my Mum's savings into but then noticed the annual interest.

    She needs monthly interest to boost the income she has to live on.
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Pollycat wrote: »
    I got quite excited about this as I'm looking for somewhere to put some of my Mum's savings into but then noticed the annual interest.

    She needs monthly interest to boost the income she has to live on.
    Pollycat, assuming you are allowed unlimited withdrawals there's no reason why your mum can't use this account.

    E.g. she deposits £10,000.
    Each month she withdraws £26.68 to boost her income.
    At the end of the year she gets £320.23 interest credited to her account, bringing her balance back to £10,000.
  • tagq2
    tagq2 Posts: 382 Forumite
    @pqrdef: Dunfermline is where Nationwide deals with stuff and I was guessing the cheque was an additional simple ID check, since it has to be from the account opener.

    Now to find out whether they'll be happy with Power of Attorney management, as this account could also help boost income for an older family member...
  • Sceptic001
    Sceptic001 Posts: 1,111 Forumite
    JimmyTheWig wrote: »
    Pollycat, assuming you are allowed unlimited withdrawals there's no reason why your mum can't use this account.

    E.g. she deposits £10,000.
    Each month she withdraws £26.68 to boost her income.
    At the end of the year she gets £320.23 interest credited to her account, bringing her balance back to £10,000.
    This assumes a non-taxpayer. You need to knock off 20% for a basic rate taxpayer, reducing the monthly income to £21.34.
  • Pollycat
    Pollycat Posts: 35,779 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Savvy Shopper!
    Thanks, Jimmythewig, I'm going to have a think about this account.

    It does allow unlimited withdrawals.

    I'm also looking for somewhere for about £20K in a 1 year bond that pays a bit more interest but still monthly.
    Skipton BS at 3.45% is looking best so far.

    Sceptic001, my Mum doesn't pay tax.
This discussion has been closed.
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