The Top Easy Access Savings Discussion Area

castle96

Zopa,Chip,Tandem.... reading this lot just can't be bothered! Happy with .1, .2% less. No apps/no problems... 'recognised' names.. easy access/withdraw, change funds around

TiVo_Lad

Mr_blibby said:

TiVo_Lad said:

allegro120 said:

poshrule_uk said:

How long do funds take to appear in Tandem generally?

About 5-7 minutes in my experience.

Agreed. The text arrives pretty quickly to confirm receipt and new balance.

seems to depend on the amount - pretty much instantaneous for v small amount - couple of £10k transfers took 30-60 mins - not sure if delay was on their side or in leaving my bank

Your larger amounts may have been subject to additional checks by your bank.

patpalloon

Just had the email from marcus re the increase. That's two increases in close succession, but they were trailing quite a bit .

janusd

Minty33 said:

Investec online flexi saver 3.26%. 

Min balance £5000

technically, you can have a zero balance, but only £5k and over earns any interest.

janusd

Re: Secure Trust @ 3.30% - did anyone answer the question (which I can't find) as to whether you can make a test deposit of £1 or does it need to be the full £1k ?

Eco_Miser

EssexHebridean said:

RedImp_2 said:

I’ve had the mail from Marcus about the rate increase others have mentioned +0.2%

Not good enough for me to move money back but good news for those who have stuck with them I guess (& don’t read this forum 😏)

Or indeed those who have stuck with them, and do... 

BTW - someone said earlier about needing to update their bonus every time the rate increases - not sure what that refers to as I certainly don't need to - the bonus applies from a year from when it was last updated. 

You don't NEED to renew the bonus, but you should. As you say the bonus applies from a year from when it was last updated, and when the bonus drops or stops (which has happened in the past) you'd be very annoyed if you last renewed it 11 months ago.

mebu60

janusdesign said:

Re: Secure Trust @ 3.30% - did anyone answer the question (which I can't find) as to whether you can make a test deposit of £1 or does it need to be the full £1k ?

I braved the £1k. Took a while to appear, about 4 hours or so.

cogrady84

GalacticaActual said:

poppystar said:

GalacticaActual said:

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Haven’t logged in to my Saga account but it too is now showing as 3.2% on Saga savings page, so I guess the answer is yes🙂.

Really would like NS&I to do something with their interest rates now..

There might be an announcement from NS&I about their interest rates any day now.
During the next financial year, which starts on 6th April, NS&I will have to rake in 25 per cent more than its current £6 billion for this year (2022/23).

The Government has tasked NS&I with attracting £7.5 billion from savers in the next 12 months, despite its recent struggles to stop people leaving for better deals elsewhere.

Have I misunderstood premium bonds then? My understanding was that it didn't have an interest rate, just prizes?

ForumUser7

cogrady84 said:

GalacticaActual said:

poppystar said:

GalacticaActual said:

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Haven’t logged in to my Saga account but it too is now showing as 3.2% on Saga savings page, so I guess the answer is yes🙂.

Really would like NS&I to do something with their interest rates now..

There might be an announcement from NS&I about their interest rates any day now.
During the next financial year, which starts on 6th April, NS&I will have to rake in 25 per cent more than its current £6 billion for this year (2022/23).

The Government has tasked NS&I with attracting £7.5 billion from savers in the next 12 months, despite its recent struggles to stop people leaving for better deals elsewhere.

Have I misunderstood premium bonds then? My understanding was that it didn't have an interest rate, just prizes?

Your understanding is correct.

NS&I also offer other accounts like Direct Saver, Direct ISA, which offer variable interest. They also offer income and growth bonds, with fixed interest.

The premium bonds have a prize fund rate, but no guaranteed interest

mebu60

cogrady84 said:

GalacticaActual said:

poppystar said:

GalacticaActual said:

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Haven’t logged in to my Saga account but it too is now showing as 3.2% on Saga savings page, so I guess the answer is yes🙂.

Really would like NS&I to do something with their interest rates now..

There might be an announcement from NS&I about their interest rates any day now.
During the next financial year, which starts on 6th April, NS&I will have to rake in 25 per cent more than its current £6 billion for this year (2022/23).

The Government has tasked NS&I with attracting £7.5 billion from savers in the next 12 months, despite its recent struggles to stop people leaving for better deals elsewhere.

Have I misunderstood premium bonds then? My understanding was that it didn't have an interest rate, just prizes?

It's a prize fund rate. What return you could expect with average luck. It's slightly overstated due to the size of the top prize that you are unlikely to win. But it is tax free.