best rate 'fiddle' around

G_M

We all know banks offer introductory bonuses and other incentives to lure us in.

What is the best way to beat the banks at their own game?

Multiple Lloyds Vantage current accounts (up to 6) is a great way to get 4% on instant access.

Newcastle BS's 5 year bond pays 5% with penalty-free 3 month notice access.

Any other recent or current examples?

alanq

G_M wrote: »

Newcastle BS's 5 year bond pays 5% with penalty-free 3 month notice access.

That was Issue 1 which has not been available to new customers for a very long time.

The current one, Issue 2, pays rates depending on the balance and requires 120 days notice for penalty-free access.

Reaper

G_M wrote: »

Newcastle BS's 5 year bond pays 5% with penalty-free 3 month notice access.

Sorry to disappoint but it's 4.5%, you only get that if you have £100,000 to invest and the notice period is 4 months not 3. Apart from that you are spot on!

EDIT: Beaten to it

ses6jwg

santander first home saver is a popular one

nzseries1

G_M wrote: »

Multiple Lloyds Vantage current accounts (up to 6) is a great way to get 4% on instant access.

From the Lloyds TSB Vantage page at http://www.lloydstsb.com/current_accounts/vantage.asp:

Customers are limited to a total of 3 Vantage Accounts.

Please advise how you were able to get 6?

xrjtg

There didn't used to be a limit, so some people opened more than three before they added the restriction. Alternatively, they could be thinking of three each for a husband/wife pair.

nzseries1

xrjtg wrote: »

There didn't used to be a limit, so some people opened more than three before they added the restriction. Alternatively, they could be thinking of three each for a husband/wife pair.

Shame, I'm ineligible then under both those options

steveksullivan

As has been written about many many times on here - the best 'beat the banks' is Halifax reward ........

Now limited to one sole and one joint account but .......

I have three, partner has three son has three
(also partners mother has one sole and one joint.....)

For the sake of moving £1000 instantly using faster payment from one account to the other (and because I have an overdraft facility its only 'virtual' money - no money ever enters my account) we get paid £45 per month in 'free' money! (plus partners mother another £10)

At an average interest rate of 2.75% we would need to have circa £25,000 invested to get the same return!

G_M

Thanks for responses so far.

Yes, I applied for LLoyds Vantage before the restriction of 3 accounts was introduced.

Yes, I have Newcastle BS's issue 1 bond.

Multiple Halifax Reward c/a is another good example.

Others?