how much interest do you earn per year? (percent)

veryintrigued

You might want to use this existing thread below (If you mean just savings)

https://forums.moneysavingexpert.com/discussion/4708327

PS mine is 3.63% (net) currently

Ifts

Ive got 2x 123 accounts at 3%

Also got £60k in a cash ISA @5% (historical fixed rate)

colsten

Ifts wrote: »

Ive got 2x 123 accounts at 3%

But what %age do they actually pay you? I.e. plus cashback, minus fee, for the balances you have in your accounts? And how much will they pay you from January onwards? Versus how much you could get if you spread your money across accounts that pay better rates?

Ifts

colsten wrote: »

Versus how much you could get if you spread your money across accounts that pay better rates?

Its OK colsten with cashback the 123 accounts are fine for me - I like the 123 accounts for the max they let you put in them.

ratechaser

Interesting thread. I'd probably approach it slightly differently in terms of what the aggregate net rate is after (in my case) higher and additional rate tax has been taken off. It also smoothes out taxable versus tax free savings.

Back of a fag packet calculation makes me think that for me and the DW, it's between 1.5 and 2% net on about 450k in a lot of different places, but I'm going to have to get this all worked out now you have me thinking!

colsten

Ifts wrote: »

Its OK colsten with cashback the 123 accounts are fine for me - I like the 123 accounts for the max they let you put in them.

I like the 123s as well but I have got all the better accounts filled so my choices are limited.

I worry about people who, in many cases, somewhat blindly drop their money into 123s because they like "the max". Some don't even realise there is no 3% below £3,000 in the 123. Others don't realise that you can get 3% or more on over £30,000, without ever having to pay any monthly fee.

The power of Marketing is working for Santander and their shareholders - hats off to Santander Marketing, genuinely, they are streets ahead of other banks, and they are offering shareholders brilliant value for money. Their current account offerings work so well because so many people fall for the "simplicity" of having a £30K limit for interest. Add a referral deal and get other websites to recommend you. Savers don't even look at better deals. Simplicity indeed, all the way.

Anyone who has not exhausted better offers than 123: I would encourage you to do so. It makes little sense to put your money into accounts that do not pay you the best possible interest rate. Because you might be able to make more money elsewhere.

darkidoe

colsten wrote: »

Their current account offerings work so well because so many people fall for the "simplicity" of having a £30K limit for interest.

It's still £20K right? If I am not wrong.

colsten

darkidoe wrote: »

It's still £20K right? If I am not wrong.

Yes, sorry, it's £20k for Santander and simplicity.Thank you for calling out my pretty serious typo.

Got to say though that as everyone reads the T&Cs, don't they, nobody would have come to any harm.

enthusiasticsaver

Santander 123 accounts (x2) @ 3%, TSB and Nationwide at 5%, TSB regular saver and Nationwide flexclusive regular saver at 5%, Tesco at 3% and Coventry BS fixed term isa at 2.4%. I daren't look at my stocks and shares isa at the moment as that is not performing brilliantly as only went in this year which has not been a good year investment return wise.

Flobberchops

savings_my_hobby wrote: »

I was further vindicated a few months ago when my cash isa (very small balance) interest rate was cut from a poultry 1.2% to 0.8%.

Let me guess, Barclays?