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The Top Instant Access Savings Discussion Area
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# 2181
ArtyH
Old 07-11-2012, 9:45 AM
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Join Date: Sep 2007
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Recently retired so have time to manage my finances now.
Missed out on a few months higher interest from a Santander esaver account which was my fault for not keeping track of it, however a few decent banks/building societies now contact the saver and inform them when the end date is near.
No such luck with Santander .
So after looking around I went for the West Brom B/S which is currently giving savers a massive 2.52% ( Oh I.C.I.C.I where is your 7% interest rate now ), truly shocking but the best I have found. You can take money out 4 times a year without penalty so not too bad in this political climate of poverty.
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# 2182
LG88
Old 07-11-2012, 3:14 PM
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Join Date: Jan 2012
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All,

Need some help! I have had a First Direct Regular Saver (8%), and its coming to its one year anniversary next week, and will be transferred to its Savings Account (0.05%) , so I was planning on transferring it back to my current account, and investing it elsewhere.

Any tips on where I could put it into next? I have current accounts with FD, Santander, Halifax, and IF, if any of those have associated savers that have good rates for a year?

I was appealed by the Cheshire BS Regular at 5%, however its a branch only account, and I dont live in that area, which is a shame.

Any tips would be much appreciated.

Cheers, LG
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# 2183
KTF
Old 07-11-2012, 3:17 PM
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You can also open another FD regular saver.
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# 2184
Mr. H
Old 07-11-2012, 3:22 PM
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regular savers are a useful, but if you have a lump sum to save don't forget to put that lump sum into an account that has a decent rate.

If you don't mind jumping through the hoops of monthly money transfers, it seems the best instant-access rate you can get at the moment is with Lloyds Vantage current accounts at 3% (assuming you have the required amount to save). Otherwise you're looking at about 2.5%. But that's still better than leaving the lump sum in a current account paying 0.1% or 0%!
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# 2185
steve6375
Old 08-11-2012, 12:25 PM
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Martin is saying that M&S is top for fixed interest savings (e.g. 1yr at 3%) but M&S site is offering 2.3%??? Has the 3% now finished?
ss
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# 2186
I-LOV-MONEY
Old 08-11-2012, 4:31 PM
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Quote:
Originally Posted by KTF View Post
You can also open another FD regular saver.
Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

Month 1 invest 100 for 12 months
Month 2 invest 100 for 11 months (8% / 12 * 11)
Month 3 invest 100 for 10 months (8% / 12 * 10)
....
Month 12 invest 100 for 1 month (8% / 12 = .666%)

If you can afford a lump sum investment (preferably at fixed interest) is much better.
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# 2187
DragonQ
Old 08-11-2012, 4:33 PM
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Or just drip-feed your money from a good savings account into the regular account to maximise interest.
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# 2188
Gromitt
Old 08-11-2012, 5:54 PM
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Quote:
Originally Posted by I-LOV-MONEY View Post
Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

If you can afford a lump sum investment (preferably at fixed interest) is much better.
Show me where I can get 4.2% on a 1 year investment (the equivalent you'll need to match it) and I'll happily put my money there instead of FD's Regular saver, but I don't think its possible, so therefore its actually better than a lump sum investment. Plus of course, the rest of the cash will be in an account gaining ~3%, so the end result is far better.
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# 2189
MikeMcr
Old 12-11-2012, 10:10 PM
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Quote:
Originally Posted by rb10 View Post
Just write a letter asking to close accounts with account numbers A, B, C, etc. Put it through a branch letterbox or post it to them. Quick & easy.
Quote:
Originally Posted by Wendell Pierce View Post
Probably sounds ridiculous, but I didn't really think that my savings accounts had any relationship with my local branch at all.
You don't need to write to the branch; write to the head office as detailed on the "Contact us" section of their web site. Then list the sort codes and account numbers you want to close along with details of an account to transfer any interest to.

I have been doing that for years with Halifax and Lloyds and it works fine. Less hassle than a telephone or branch visit.
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# 2190
qualitynet
Old 15-11-2012, 2:55 PM
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Join Date: Nov 2012
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I have a saving account and has ATM of it. So its easy to get money in danger time.
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# 2191
CitySlicker
Old 15-11-2012, 3:09 PM
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It appears the Derbyshire 2.5% rate has been pulled and now offers 2.2%.

Last edited by CitySlicker; 15-11-2012 at 3:18 PM.
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# 2192
frugalmike
Old 15-11-2012, 4:36 PM
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Default up to 2.6 % for existing Nationwide customers

I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

Loyalty Saver
Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with 1,000. Minimum age 18

Rates effective from 03/10/2012

http://www.nationwide.co.uk/savings/...l_accounts.htm
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# 2193
2010
Old 15-11-2012, 6:21 PM
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Quote:
Originally Posted by frugalmike View Post
I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

Loyalty Saver
Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with 1,000. Minimum age 18

Rates effective from 03/10/2012

http://www.nationwide.co.uk/savings/...l_accounts.htm
Considering they bang the drum about looking after their members and have no shareholders to pay out to, the loyalty rates are pretty poor.
15 years a member and they give you 2.6%, very generous.
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# 2194
rb10
Old 15-11-2012, 7:11 PM
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Quote:
Originally Posted by 2010 View Post
Considering they bang the drum about looking after their members and have no shareholders to pay out to, the loyalty rates are pretty poor.
15 years a member and they give you 2.6%, very generous.
Where else can you get 2.6% instant access at the moment?
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# 2195
2010
Old 16-11-2012, 7:24 AM
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Quote:
Originally Posted by rb10 View Post
Where else can you get 2.6% instant access at the moment?
I could get it with them but you couldn`t unless you`ve been a member for fifteen years.

The point I`m making is for all their banging of the mutuality drum, they are and have been one of the worse providers as regards saving rates.

They would have something to shout about if the 2.6% was for EVERYONE.
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# 2196
chun
Old 16-11-2012, 1:02 PM
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Default 2.40

Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
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# 2197
2010
Old 16-11-2012, 2:27 PM
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Quote:
Originally Posted by chun View Post
Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
Looks like they`ve chopped it already.

Crap rate for 15 years loyalty and a crap building society with overpaid directors.

I`ve only got a fiver with them and that`s how it will stay until they pay a decent rate.
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# 2198
chris1
Old 16-11-2012, 3:46 PM
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Posts: 459
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Quote:
Originally Posted by chun View Post
Hello
Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
I think 2.6 is for Issue 1, the current issue is 2.4 for 15 years, issue 2.
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# 2199
AndyJ52
Old 16-11-2012, 3:47 PM
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Join Date: Feb 2009
Posts: 49
Default Savings Rates!!

What on earth is going on with savings rates at the moment?
I've been somewhat out of the arena for much of this year looking after an ailing father. Now, most of my 'high interest', instant access accounts are coming to the end of their bonus period and the rates are dropping through the floor. No change there then! However, the rates on new accounts currently on offer are so incredibly low they're hardly attractive are they?
I'm sure that none of this is news to any of you stalwart savings types.... but what are you guys doing with your cash savings at the moment. Are there ANY decent accounts out there, or is 2.5% to barely 3% (with strings) all that's available these days?
Any pointers, if you have them, as to where to stash the cash would be much appreciated - or are you all deeply pi**ed off too!

Thanks in advance AndyJ
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# 2200
gadgetmind
Old 16-11-2012, 4:16 PM
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Quote:
Originally Posted by AndyJ52 View Post
what are you guys doing with your cash savings at the moment.
For the most part, I'm reducing my cash allocation. What I do hold is in a combination of a one year account at 3.6%, instant access at 3.1% (for now!), some modest cash ISAs at 4% (for now!) and NS&I Index Linked bonds.

As for pointers, it's a case of looking out for deals as they come along or consider equities and bonds. However, even these are a bit skinny on the yield right now unless you move up the risk spectrum.
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

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