Egg Savings - down to 4.75%

Anon

I noticed on Egg this evening that their offer of 5.4% for 6 months has ended and now reverted to 4.75% - still not a bad rate, but not as good as the previous offer.

Eyes down for a new savings account in April to replace Egg (could be back to ING!).

Anon

Walletwatch

A&L is the second best now, at 5.35% (egg was 5.5%) - so it is back to one of these accounts after my introductory period at egg comes to an end.

Also waiting with bated breath for the MPC to announce the next rate rise ;-)

quickquid

Don't forget Northern Rock are still doing 5.41% - includes introductory bonus of 0.7% for first six months from date of opening account. I have used their introductory offers in the past and I have had no trouble with the site or in transferring my monies after the six months bonus period.

chitty

cahoot are still offering 5.1% AER on their savings account <http://www.cahoot.co.uk/rates_fees/rates_fees.html#savings_account&gt;

Quick question tho. What's the difference between AER (annual equivalent rate?!?!?) and the gross figure, except for the gross figure being lower? Or is it simply that AER is before tax?

Ta for any answers.

Reaper

AER is how much you would get if you left the money in there for a year. It is often higher than gross because if the interest is paid monthly you benefit from compounding.

If the account pays interest annually the gross/AER figures are likely to be the same.

blinko

its true a shame they have dropped there account but they do have good customer service at egg which seems to be a rarity today

chitty

ta for that. I was looking around for something else (a job as it happens if anyone wants a software engineer ) and came across this from L&H. 6% but you have to be a customer already ...

http://www.leedsandholbeck.co.uk/savings/memloysav_prod.html