Best E-saver to go for ?

RP2X

Hi just wanted to know whats the best e-saver to go for lately ?

grumbler

How do you define the best? What amount?
Nowadays many current accounts pay higher interest on limited balances than saving accounts - providing that you meet some requirements.

• Top Savings Accounts
• Best Bank Accounts

RP2X

Im asking on behalf of my cousin, but she has about 80k inside a natwest esaver account for the past year and only getting about £50 per month interest past year, feels a bit low for the amount shes getting after reading some post on here....

Perhaps better esaver deals out there?

psychic_teabag

£50 per month net of tax corresponds to about 1% gross p.a. which sounds about right for natwest esavings. (Though there are sometimes some special offers around.)

Use comparison sites to look for 2% instant-access - could also look for notice or fixed-term accounts if they don't need instant-access to all £80k.

grumbler

I assume she does fill her cash ISA up every year.

BugsyBrowne

RP2X wrote: »

Im asking on behalf of my cousin, but she has about 80k inside a natwest esaver account for the past year and only getting about £50 per month interest past year, feels a bit low for the amount shes getting after reading some post on here....

Perhaps better esaver deals out there?

Tell her to buy a flat for 70k that will bring in £400 a month depending on area base that on 4k a year and stick the other 10k in 4 nationwide accounts that will brink in £400 a year that's nearly 5k a year.

That's 7.0% interest.

RP2X

Thanks Grumler on those links

I am not so good with my math so I am not sure if I understand or read this right, but sounds like you suggest one can go for the Santander 123 account, she can open 2 accounts and deposit 20k on them each and get 3% interest on them? That alone would be double the amount she gets?

RP2X

grumbler wrote: »

I assume she does fill her cash ISA up every year.

yes she has fill her isas up I believe

RP2X

psychic_teabag wrote: »

£50 per month net of tax corresponds to about 1% gross p.a. which sounds about right for natwest esavings. (Though there are sometimes some special offers around.)

Use comparison sites to look for 2% instant-access - could also look for notice or fixed-term accounts if they don't need instant-access to all £80k.

Yeah she told me today that natwest confirmed 1.0 natwest interest is correct but she actually gets net 0.8 % in hand of interest...which is about 50ish interest so its correct.

Guess all these banks advertise 1.0% or 2.0% but u gotta look for net pay ! So she is getting the correct amount, seems from the other post some lucky souls are on 2.5 and 2.0% so were getting £100+ interest on there older esaver accounts, guess overtime they will be gone also.