Can I track the interest rates on my various savings accounts?

psychic_teabag

jimjames wrote: »

Another option is if you have different browsers installed on your PC or are happy to install a different browser.

The browser you don't normally use can have all the tabs setup for the relevant pages on the banks website for each account. Whenever you want to check the rates for all your current savings then open that browser and each tab will show you the latest details.

Don't necessarily need a separate browser. With firefox you could put all the urls in a bookmark group, and then the UI allows you to "open all in tabs".

It looks like IE might be able to do the same - not sure.

psychic_teabag

jimjames wrote: »

Why not just setup a spreadsheet with the dates each account rate expires?

Or even if you have a smartphone put a calendar reminder in for the date you need to check that account?

That works for scheduled rate reductions (such as bonus expiry). Would be nice to have a tracker which can also inform you when a variable rate has been reduced. (That seems to be relatively rare during the bonus period, but I got an email from one recently to inform me the underlying rate was being reduced just a couple of weeks before the bonus ended.)

Stompa

psychic_teabag wrote: »

It looks like IE might be able to do the same - not sure.

Yes, it can, as can Google Chrome.

innovate

Hi Anna, thanks for finding the post & answering it. You should be aware you need special permission from MSE towers to post as a company rep - http://www.moneysavingexpert.com/site/forum-faqs#response

But leaving that aside: it's interesting that you are working on improving things. I am subscribed to your site's free services - - may be not properly? - - haven't received any notifier in ages. I am an avid "rates tart" and tbh, at the moment there is nothing better in my experience than the MSE Forum, combined with my personal spreadsheet. There's always someone who has spotted something new/exciting - often with the help of comparison sites - but keeping the whole thing 'human' appears to have massive advantages.


Take the Lloyds Vantage as an example, or the Santander 123. It's not much use to rate tarts to be told (or to find out) that the best instant 'proper' savings account rate is 2.75% when we can get £3% or even 4%, albeit in accounts that do not go as 'savings' accounts.

Also, one look at my spreadsheet tells me where how much of my money is, what the interest rate is, when the deal expires, how much I have with which financial institution, what my linked account is (where applicable), and whatever else I need to stay in control of my savings. That's not something I can get - or would want to get - from any notification service.

But perhaps there's an advantage if the comparison services don't identify the real sweet spots - gives us rate tarts a better chance that we'll always find something that hasn't been overrun by the masses.

chris1

psychic_teabag wrote: »

That works for scheduled rate reductions (such as bonus expiry). Would be nice to have a tracker which can also inform you when a variable rate has been reduced. (That seems to be relatively rare during the bonus period, but I got an email from one recently to inform me the underlying rate was being reduced just a couple of weeks before the bonus ended.)

This is where the real problem lies. It's easy enough to set up a diary-type entry for when a bonus ends, but for accounts with a variable rate (or an underlying variable part to the rate) it's much more difficult - and the institutions don't always tell you when they reduce the variable rate.

Former_MSE_Andrea

Hi

SavingsChampion's asked to give a reply. MSE doesn't endorse anything a company says on the forum.

Hi, I’m Anna Bowes, one of the founders of SavingsChampion.
We monitor all UK Bank and Building Society savings accounts - there are thousands of them (because we also monitor accounts that have been closed to new business). We’re totally independent and if you can't find the account you have with a certain provider, please let us know and we'll look in to this for you (and add it if it’s really not there).

We don't cover current accounts just standard savings accounts i.e. all easy access, notice, fixed rate bonds and cash ISAs, which will be why you can't find the Lloyds Vantage Account.

Although at the moment we don't show the current interest rate that you are earning within your personal portfolio (although we do display them when you are adding an account) we are in the process of updating this - so you'll shortly be able to see all interest rates in one place.

In the meantime, we email when bonuses or fixed rate products expire/mature or if the rates change in the interim.
We purposefully set up Rate Tracker to solve the problem of people having to create their own spread sheets and outlook reminders because we know how difficult it can be to get this basic information from providers. We totally believe that it does this, however we always appreciate any thoughts or suggestions about how we can make it better, so please do let us know.

Hope this helps.