Best Place to Save For Over 60's?

Biggles

LittleVoice wrote: »

Coventry is much better eg monthly rate for eSave 6.2% gross, 6.27% AER.

Yes, but the quoted rate takes into account the fact that the gross rate is due to drop to 5.6% on 1 Jul 08, so not a good long-term option.

munk

As someone mentioned above there doesn't seem to be a lot to the higher rates that some places like Coventry offer - generally they seem to come with catches (seem to remember coventry's 'silver surfer' account high rate was only for a limited introductory period, may be wrong though?).

I advised my mum (69) to go with sainsbury's bank - they seem to have followed the bank base rate increases so far, no restrictions on how much/when you invest, no restrictions on when you can take the money out, no fiddly rate limiters - just 'does what it says on the tin'.

hansi

chesky369 wrote: »

ALL my other savings accounts get interest monthly and it's added on the day it says it will, unlike northern rock which tells you 'interest added on 19th' but you have to wait until the next day to see it. ICEsave however adds mine on 17th - first thing in the morning.

now that is splitting hairs. Just wait till 00:01 on the 20th and it will be shown. Blimey, some people will pick holes in anything!

Jake'sGran

TomsMom wrote: »

I agree that NR website is very secure, no problem with that at all. My problem (and hubby's) was that the site is very slow compared to others we've had in the past and currently have (A+L, Halifax, B&B, Sainsburys), opening the second screen, downloading whatever before you could use it which NR estimate to be 2 .5 minutes. Just too too slow for us, drove us mad. But if people do have the patience then that's fine.

Just too too slow for me too. And I do have the latest JAVA. I am impatient I know but when I consider the difference between NR and say Egg (which I just keep a small amount in) there is just no comparison at all. Sainsbury's is easy too now, just 3 pieces of info and your in. Smile has a reputation for being very secure and has won awards for it's site (shame about the rates) and very easy to use. What is the point of having a computer and just having to sit and wait so long for the screen to change?.

hansi

No way does it take that long to download. It's about 30 seconds with me.

TomsMom

opening the second screen, downloading whatever before you could use it which NR estimate to be 2 .5 minutes.

hansi wrote: »

No way does it take that long to download. It's about 30 seconds with me.

That is Northern Rock's estimate which comes up on the screen on their website. If it only takes 30 secs on your computer you are very lucky. It was taking best part of 2 minutes on mine.