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The Top Easy Access Savings Discussion Area
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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.26 -
Well I certainly didn't expect that. Still not enough to get my savings out of Chip though.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.3 -
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.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.5 -
Yay, Santander! Glad I held out.3
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Didn't see that coming from Santander at all, but I'll take it!
Wonder if Zopa will venture a small rise as well....0 -
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.4
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And for those who want a high street banking name without an app required to access it.aaj123 said:
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.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.
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.2 -
A 'real' bank with dinosaur level of customer service,aaj123 said:
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.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.1 -
No backstop or bailout is ever guaranteed though, so if you want to safeguard your deposits, best to stay under the FSCS £85k. As a systematically important bank, it is possible they'd be bailed out, but this cannot be guaranteed - not that you did guarantee itcwep2 said:
And for those who want a high street banking name without an app required to access it.aaj123 said:
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.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.
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.If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.2 -
I just need NS&I to up their direct saver to 3.1% now1
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