Saga Top 5 Tracker account

Stompa

nobby24 wrote: »

Well the beauty of this account is you know it's always going to be a fairly good rate because it's tied to the Top 5 rates available.

Except the top 5 will probably be around 1% soon!

nobby24

lol, I hope not.

juicyjude

How things change. A few weeks ago none of us would have looked at rates like 3% but now we are all thinking, not so bad that!!!!!

savetilibleed

The Top 5 Online Tracker has not, at this time 17.50hrs 02/02/09, at least isn't showing as changed eithe in their historical rates link or if I log on. Still showing 4.34%. Cant remember what criteria exectly they choose (or for how long) for changing the interest rate. Obviously it tracks the top 5 online accounts but when do they look and see?

Stompa

savetilibleed wrote: »

The Top 5 Online Tracker has not, at this time 17.50hrs 02/02/09, at least isn't showing as changed eithe in their historical rates link or if I log on. Still showing 4.34%. Cant remember what criteria exectly they choose (or for how long) for changing the interest rate. Obviously it tracks the top 5 online accounts but when do they look and see?

According to:

http://www.saga.co.uk/money-shop/savings/historical-rates.asp

it's previously changed on:

2 January 09
1 December 08
3 November 08
1 October 08
1 September 08
1 August 08
1 July 08
2 June 08
7 May 08

so I imagine it will plummet in the next day or so.

savetilibleed

It's 3.42% gross now this evening when I logged on. The historical table not yet updated.

goldtooth_2

How does 3.42% gross (monthly interest) convert to AER, so I can compare with other bank's rates?

Stompa

goldtooth wrote: »

How does 3.42% gross (monthly interest) convert to AER, so I can compare with other bank's rates?

3.47%

they usually show AER here:

http://www.saga.co.uk/money-shop/savings/historical-rates.asp

but don't appear to have got around to updating it yet.

nobby24

Down to 2.75% now.

G_M

Investec's High Five account ((very similar) is paying 3.54 % this week. Plus new applicants (and referrer) each get £50 bonus on application at present.
PM me for details