What is the Highest Interest Rate / Cashback / Rewards You Can Get?

Eco_Miser

FrankRizzo wrote: »

Wonder if other banks are going to follow suit?

Apparently TSB are

Kendall80

Special_Saver2 wrote: »

Hi Folks,

Just a quick note to let you know I have updated the first post in this thread because the Lloyds 4% regular saver has dropped its rate to 3% for new applicants. I have moved it into the 3% category and recalculated the interest figures using the calculator on Martin's regular saver page.

SS2

Thanks for noticing this. By chance I got mine in a few days before the change. Their site does say rates are fixed so I should get 4% for the duration. I think I will go elsewhere for the wifes new RS.

guitarman001

If I got my brother to open a 123 account so I could put money in... would that be against the rules or anything??? Would it be some sort of fraud? Hope not! I've not done it yet but if it's all ok, I'd seriously consider this option.

bigadaj

guitarman001 wrote: »

If I got my brother to open a 123 account so I could put money in... would that be against the rules or anything??? Would it be some sort of fraud? Hope not! I've not done it yet but if it's all ok, I'd seriously consider this option.

It's not really fraud but it's then his money, if he decides to land spend it there's nothing you can do about it.

colsten

bigadaj wrote: »

It's not really fraud but it's then his money, if he decides to land spend it there's nothing you can do about it.

Also, the interest earned would count as the brother's income,which may or may not be desirable.

guitarman001

It'd be desirable in my case as he doesn't work.
Hmm, I think I trust him enough!
Just figured out what to do with my money!

kingrulzuk

guitarman001 wrote: »

It'd be desirable in my case as he doesn't work.
Hmm, I think I trust him enough!
Just figured out what to do with my money!

If you trust your brother then why not as its not fraud.

gingercordial

guitarman001 wrote: »

It'd be desirable in my case as he doesn't work.
Hmm, I think I trust him enough!
Just figured out what to do with my money!

If he doesn't work, is he on any means-tested benefits that could be affected if he has a lump sum in a bank account? Because for all purposes it will be legally his money. I don't know what thresholds might be, but it's worth checking.

Also bear in mind that even if he doesn't spend it or refuse to give it back, if anything happens to him like he goes bankrupt or dies it is legally his so could be taken by his creditors or used for funeral expenses payable by the estate. You will not have a claim on it.

Special_Saver2

Hi Everybody,

TSB has gone ahead with the rate cut on their regular savings account (dropped from 5% to 2% for new applicants), so I have removed it from the first post of this thread and updated the amount of interest you can earn on accounts paying 5% accordingly.

SS2

YorkshireBoy

Special_Saver2 wrote: »

Hi Everybody,

TSB has gone ahead with the rate cut on their regular savings account (dropped from 5% to 2% for new applicants), so I have removed it from the first post of this thread and updated the amount of interest you can earn on accounts paying 5% accordingly.

SS2

The 5% TSB contactless cashback runs until the end of September 2017 for new customers opening an account from June 1st, in case you want to update the OP.