The Top Easy Access Savings Discussion Area

2010

Rates seemed to have settled down for now.
Next rate meeting 23rd March, expected to be a raised by 0.25%.
Providers do not pass on the full increase anyway, so maybe we`re near the top now!

merchant_ac

Al Rayan have increased the rate of their Everyday Saver (Issue 3) to 3.05% (from 2.81%).

pecunianonolet

merchant_ac said:

Al Rayan have increased the rate of their Everyday Saver (Issue 3) to 3.05% (from 2.81%).

That's 3.09% AER according to this calculator

Bridlington1

merchant_ac said:

Al Rayan have increased the rate of their Everyday Saver (Issue 3) to 3.05% (from 2.81%).

About time too. It looks like Al Rayan's back in business.

Band7

Bridlington1 said:

merchant_ac said:

Al Rayan have increased the rate of their Everyday Saver (Issue 3) to 3.05% (from 2.81%).

About time too. It looks like Al Rayan's back in business.

Too late as far as I am concerned. There’s no chance I would now move back any money from CHIP or Skipton, both of which pay better interest and are quicker, in and out. 

Anyone else moving back?

pecunianonolet

Band7 said:

Bridlington1 said:

merchant_ac said:

Al Rayan have increased the rate of their Everyday Saver (Issue 3) to 3.05% (from 2.81%).

About time too. It looks like Al Rayan's back in business.

Too late as far as I am concerned. There’s no chance I would now move back any money from CHIP or Skipton, both of which pay better interest and are quicker, in and out. 

Anyone else moving back?

Nope, Skipton for me until further notice and at least until end of tax year due to monthly interest payments. From April I will consider annual interest accounts again.

SeriousHoax

Chip 3.15%

https://www.getchip.uk/savings-accounts/instant-access-account

AmityNeon

Too little too late for Al Rayan.

3.09% AER is insufficient, especially considering transactions are limited to business hours.

GalacticaActual

Thanks for the update SeriousHoax. Just received an email from Chip confirming same and the app shows the new rate too.

I like the way the app shows the accrued interest to date, updated on a daily basis.

We're always aiming to keep the Chip Instant Access Account rate highly competitive. 
So, we’ve just taken it to the top of the easy-access savings tables and have raised your interest rate to 3.15% AER.
This new higher rate is effective immediately, and from today (21 February 2023) all deposits will accrue interest at the rate of 3.15% AER - with your interest paid monthly as per usual. 

alwall

Shawbrook needed a nudge to pay me  the correct interest rate.
I noticed that they were paying me 2.28% instead of the 3.02% monthly interest advertised (3.06% Annually) . 
Needed both a secure message and a phone call before they sorted it out