Loyalty Accounts

MEEKUS

Wondering if you guys have got any loyalty accounts and what interest..
I only have a Skipton BS Slush Fund Saver... even that pays peanuts now..

bowlhead99

MEEKUS wrote: »

Wondering if you guys have got any loyalty accounts and what interest..
I only have a Skipton BS Slush Fund Saver... even that pays peanuts now..

Nationwide's loyalty account pays almost 4x base rate on anything from a pound to £50k ; no minimum deposit requirements, instant access.

That's for the highest tier of loyalty; if you've been with them for under 15 years it pays a lower rate (e.g. being with them for five years only pays 3x the base rate, ten years is somewhere in between).

The interest tier structure seems to be appropriate for an account calling itself a loyalty saver as it rewards the amount of time you've been a member, and they don't have any other comparable accounts offering instant access and high deposit amounts with such high interest rates available to someone walking in off the street.

That said, I don't use it as I don't have large amounts of savings.

jimjames

MEEKUS wrote: »

Wondering if you guys have got any loyalty accounts and what interest..
I only have a Skipton BS Slush Fund Saver... even that pays peanuts now..

I tend to use the accounts that pay the best interest regardless whether it's a loyalty account. Rather than peanuts I get 5% at the moment.