Alliance & Leicester esaver

guinnes.s

the rate on the esaver has rich rock bottom so i decided to move my savings somewhere else.
any suggestions on witch saving account that pays better then the Alliance & Leicester.
preferable a monthly paid interest.
£40.000 to save
sorry but i am a bit of a newbie regarding choosing the best saving account.
thanx

GS

ricll

The new esaver 4 is paying 3%, so you might want to look at that one, if you don't want to switch banks that is. I don't think there are banks paying much more than this anyway.

alastair_h

Here is a list of best buy instant access accounts available, above post looks pretty good re e-saver 4.

http://www.moneyfacts.co.uk/money/savings/6/instant-access-savings-accounts.aspx


PS - worth bearing in mind you loose all interest for any month you make a withdrawal in except June I think.

97trophy

A&L IOM pays 3.45 monthly

Baldur

97trophy wrote: »

A&L IOM pays 3.45 monthly

Not a very attractive compensation scheme, though - http://www.gov.im/lib/docs/fsc//guidancedcs.pdf

It should be noted that under the current scheme on 23rd October 2009 the maximum
level of compensation will reduce to £20,000 for ALL depositors.

elektra

ricll wrote: »

The new esaver 4 is paying 3%, so you might want to look at that one, if you don't want to switch banks that is. I don't think there are banks paying much more than this anyway.

I think you mean Online saver 4. There are no withdrawal penalties on this one.

ricll

elektra wrote: »

I think you mean Online saver 4. There are no withdrawal penalties on this one.

I meant esaver 4, which pays 3%/AER, as I wrote. I don't know what you meant with your post.

Baldur

ricll wrote: »

I meant esaver 4, which pays 3%/AER, as I wrote. I don't know what you meant with your post.

Probably http://www.alliance-leicester.co.uk/savings/online-saver.aspx

SavingSteve

ricll...there is no such thing as esaver issue 4, but the 3% rate is called the onlinesaver issue 4

ricll

elektra, Baldur, SavinSteve, yes you guys are right. I got confused as I have an esaver 2, and they've had an esaver 3 afterwards, so I guessed they would continue with the same name but anyway... This new online saver 4 now pays interest annually.

SavingSteve

Yep, annual interest but no withdrawel penalties, which is the real bonus IMO.