BOE Base rate 5.5%: Has your savings rate risen?

Paul_Herring

5Article generally updated as/when changes are announced: http://www.thisismoney.co.uk/saving-...0&in_page_id=7[IMG]chrome://targetalert/content/skin/new.png[/IMG]


Three changes as of writing - the quick movers:

Post office: rise to 5.75% effective June 4th
Icesave: 5.70% to 5.95% effective May 18th (Article incorrectly states 5.65%) (Edit - Article now correctly states 5.7% -> 5.95%)
M&S ISA 5.35% to 5.5% effective May 11th.

Paul_Herring

Few more added.

Sainsbury's bank: 5.5% to 5.75% effective May 17th
Cahoot: 5.25% to 5.5% effective May 21st (6.05% for > £1.4m, 6.15% for > £1/2m , 5.5% > £1m) (Who keeps this amount of money in a cash account??)
NS&I (direct ISA): 5.8% to 6.05% effective May 10th

Bazn

halifax appear not to have raised their 5% rate on the variable websaver... i'l be extremely annoyed if they don't ddo it soon, especially as they ignored the last rate rise!

Tom_Jones

And ING will announce an interest rate cut shortly

FridaysVictim

I received a pdf this morning from A&L (before the MPC rate announcement) stating their current and past rates and some changed terms .

One caught my eye :

"The following new conditions are applicable to all savings
accounts except PlusSaver and Young Worker Savings
Account.

25.4 Daily transfer limits apply and will be advised at the
time of transfer. (Please note the existing clause 25.4
remains however has now been renumbered as clause"


Did they have limits to getting your money out before ????

lisyloo

It's fairly normal to have limits on transactions for BACS or switch (or extra checks in place).
With some banks it's per transaction and you can do several transactions but with others it's a daily limit.
I think these limits are in place to help protect you from fraud.

FridaysVictim

I just find it slightly interesting that it's a new condition .
Hopefully not learnt from "The Argentinian School of Banking" :-)

I think it's also to protect "them" , not the customer , as , like most UK banks , they guarantee the customer against fraud .

(sorry I appear to have hijacked this important thread , I'll shutup now)

regularsaver1

Halifax has increased their Guaranteed Saver today to 5.50%

Paul_Herring

regularsaver1 wrote: »

Halifax has increased their Guaranteed Saver today to 5.50%

Now if only they'd do something about their Regular Saver...

anniecave

ICICI to rise to 6.05% as from 18th May.

Secret_Wookie

I have had it on good authority that the HSBC Online Saver Offer will be increasing to 6% AER from the start of June.

Seems like we have a new benchmark of 6% to aim for.

Anyone else getting 6% on their Savings?