On line savings rates ??

kilty_3

Yorkshire Building Society has an on line instant access rate of 1.68% after tax. They are mentioned every week in Financial Mail on Wednesdays as one of the better interest rates available on line. Recently I took my savings out of this account because Principality has the same online account again instant access at 2.28% after tax. How come Principality is not listed as one of the better one accounts in the Daily Mail ?? Have I missed something??

Hope someone can help. thanks

Aegis

Egg, instance access rate of 3.25% gross, or 2.6% after tax. Probably also left out of the "best buy" tables in many newspapers.

jack_spratt_2

When people say "take what you read in the papers with a pinch of salt " it also applies to not just news articles

martyn4764

I know that Moneyfacts, for one, don't include any 'bonus rate' over 1%; the Egg account is 1.25 + a 2% bonus, so doesn't feature.

Gymgenius

It's become clearer than ever to me, that the best place to find the new rates is.....on this forum! :j

5monkey

I have just opened my new Egg saving account and i love this website!!!

Jonbvn

kilty wrote: »

Yorkshire Building Society has an on line instant access rate of 1.68% after tax. They are mentioned every week in Financial Mail on Wednesdays as one of the better interest rates available on line. Recently I took my savings out of this account because Principality has the same online account again instant access at 2.28% after tax. How come Principality is not listed as one of the better one accounts in the Daily Mail ?? Have I missed something??

The only thing you can trust in a newspaper is the date in the top right hand corner.;)

The bottom line is that the Daily Mail is being paid by YBS.

KingL

and, apparently, google are run by the mafi@

flyingscotno1

I agree they'll have probably just excluded 'bonus' periods to give comparison over length of time. Online they have 2 tables, with and without bonus.

Whilst bonus is fine for people who manage finances and are willling to move money, a good deal of the population are not so savvy and get hooked by say a 2.5% rate with an poorer underlying rate of 0.5% when the bonus ends. Read the forums for people constantly moving to new issues of accounts at A+L etc. Loyalty might not be a killer, but ain't making folk richer!

If you complain about Yorkshire- look at the articles the Daily Mail have on Nationwide giving them a long overdue boot over rates and charges. :T

withnell

martyn4764 wrote: »

I know that Moneyfacts, for one, don't include any 'bonus rate' over 1%; the Egg account is 1.25 + a 2% bonus, so doesn't feature.

However this is changing as of 1-Oct-09, when this bonus restriction will be lifted

dwsjarcmcd

Jonbvn wrote: »

The bottom line is that the Daily Mail is being paid by YBS.

I can assure you that this is not true. There could be a number of reasons why this account features.
1. It is a clean rate i.e. no bonuses
2. It is a true 'instant access' account in that you get a cashcard with it to withdraw funds. You don't get that with many other online accounts
3. Consistency of rate over a long period.