The Top Easy Access Savings Discussion Area

Band7

Banks / savings providers don't have to notify interest increases in advance, or at all. They have various policies for announcing them - check the respective websites and/or T&Cs. It is different for decreases, where they are obliged to give advanced notice.

YellowStarling

Freedom Savings Account by RCI Bank (£100 min) is now 3.05%.  Still not enough to get into top 10 I think but slightly better than Marcus and Kroo (until 1st April for the latter).

Nick_C

Santander eSaver Limited Edition - NLA

Increasing to 3.25% "soon".

Just got the following message when I logged on to online banking:-

Some good news

We're increasing the interest rate on your eSaver Limited Edition (Issue 1) to 3.25% AER / 3.20% gross (variable).

You don't need to do anything. The interest rate increase will be automatically applied to your account within the next five working days. There are no other changes to how your account works.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.

Bridlington1

Nick_C said:

Santander eSaver Limited Edition - NLA

Increasing to 3.25% "soon".

Just got the following message when I logged on to online banking:-

Some good news

We're increasing the interest rate on your eSaver Limited Edition (Issue 1) to 3.25% AER / 3.20% gross (variable).

You don't need to do anything. The interest rate increase will be automatically applied to your account within the next five working days. There are no other changes to how your account works.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.

Well I certainly didn't expect that. Still not enough to get my savings out of Chip though.

aaj123

Nick_C said:

Santander eSaver Limited Edition - NLA

Increasing to 3.25% "soon".

Just got the following message when I logged on to online banking:-

Some good news

We're increasing the interest rate on your eSaver Limited Edition (Issue 1) to 3.25% AER / 3.20% gross (variable).

You don't need to do anything. The interest rate increase will be automatically applied to your account within the next five working days. There are no other changes to how your account works.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.

Its doubly great when an account that is close to the best buy is also a real bank account with a sortcode and account number and with all the frills of faster payments, etc.

Swipe

Yay, Santander! Glad I held out.

Nevergonnaretire

Didn't see that coming from Santander at all, but I'll take it!

Wonder if Zopa will venture a small rise as well....

Band7

Looks like Santander have been suffering from an outflow of deposits. Unexpected, welcome increase. Not good enough though to make me move anything from CHIP just yet.

cwep2

aaj123 said:

Nick_C said:

Santander eSaver Limited Edition - NLA

Increasing to 3.25% "soon".

Just got the following message when I logged on to online banking:-

Some good news

We're increasing the interest rate on your eSaver Limited Edition (Issue 1) to 3.25% AER / 3.20% gross (variable).

You don't need to do anything. The interest rate increase will be automatically applied to your account within the next five working days. There are no other changes to how your account works.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.

Its doubly great when an account that is close to the best buy is also a real bank account with a sortcode and account number and with all the frills of faster payments, etc.

And for those who want a high street banking name without an app required to access it.

It's also worth pointing out that although almost every bank recommended here has the £85k FSCS compensation limit, Santander is also a GSIB (see https://www.fsb.org/wp-content/uploads/P211122.pdf) a Globally Systemically Important Bank it's seen as basically too big to fail and is much more likely to be backstopped by the (Spanish) government than a random challenger savings bank. Chase (=JPMorgan) amongst the leading pack of savings rates would also qualify, and HSBC and Barclays are there too, but not Natwest/RBS or Lloyds/Halifax/BoS.

alternate

aaj123 said:

Nick_C said:

Santander eSaver Limited Edition - NLA

Increasing to 3.25% "soon".

Just got the following message when I logged on to online banking:-

Some good news

We're increasing the interest rate on your eSaver Limited Edition (Issue 1) to 3.25% AER / 3.20% gross (variable).

You don't need to do anything. The interest rate increase will be automatically applied to your account within the next five working days. There are no other changes to how your account works.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.

Its doubly great when an account that is close to the best buy is also a real bank account with a sortcode and account number and with all the frills of faster payments, etc.

A 'real' bank with dinosaur level of customer service,