The Top Easy Access Savings Discussion Area

pecunianonolet

Prices are here to stay, if you not got a decent salary increase, you're screwed for a very long time unless you get a decent promotion or change jobs. 

Having subscribed to the 4.17% Shawbrook 1y ISA might have been a mistake if rates peak up further and further. Will we see 4% easy access by summer?

grumbler

Eirambler said:

But we're absolutely miles from the 2% target so further rate rises still looking likely this year.

Let's say that prices have been rising gradually 12% over the year (1% p.m.), then stopped rising and remain steady.

I.e. ATM annual inflation is 12%, current inflation is 0%. It will take 10 months for annual inflation to drop to 2%.

My point is that 2% is the annual target, that means about 0.17% monthly.

RedImp_2

pecunianonolet said:

Prices are here to stay, if you not got a decent salary increase, you're screwed for a very long time unless you get a decent promotion or change jobs. 

Having subscribed to the 4.17% Shawbrook 1y ISA might have been a mistake if rates peak up further and further. Will we see 4% easy access by summer?

Speaking as someone who still has some money in a 1.5% fixed rate account that’s not that bad (taking tax into account as well)

pecunianonolet

RedImp_2 said:

pecunianonolet said:

Prices are here to stay, if you not got a decent salary increase, you're screwed for a very long time unless you get a decent promotion or change jobs. 

Having subscribed to the 4.17% Shawbrook 1y ISA might have been a mistake if rates peak up further and further. Will we see 4% easy access by summer?

Speaking as someone who still has some money in a 1.5% fixed rate account that’s not that bad (taking tax into account as well)

Indeed, as a higher rate tax payer I would need to get 6.93% or more for it to be more profitable after tax. I only went with Shawbrook as I don't have the full 20k available and they allow unlimited extra contributions so I put 8k in as lump sum and plan to treat it as reg saver putting in 1k each month (or more) and that should have it filled up by the end of the tax year. Got the Virgin 4.25% ISA filled up in March with 20k so overall not a bad deal. 

Float is in Tandem and from there I feed reg savers and balance transfer repayments. Took advantage of the MBNA 0% fee money transfer offer I had and put around 30k on various 0% balance transfer cards for stoozing and 6,9,12 month fixes with Atom and maturity dates aligned with CC repayment dates. 

1.5% was surely a good deal at the time but must hurt now seeing market rates. Hoping for you your maturity date is not too far away and you can benefit from a good fix moving forward.

RG2015

pecunianonolet said:

RedImp_2 said:

pecunianonolet said:

Prices are here to stay, if you not got a decent salary increase, you're screwed for a very long time unless you get a decent promotion or change jobs. 

Having subscribed to the 4.17% Shawbrook 1y ISA might have been a mistake if rates peak up further and further. Will we see 4% easy access by summer?

Speaking as someone who still has some money in a 1.5% fixed rate account that’s not that bad (taking tax into account as well)

1.5% was surely a good deal at the time but must hurt now seeing market rates. Hoping for you your maturity date is not too far away and you can benefit from a good fix moving forward.

Not to mention the Coventry Loyalty 1 year fixed saver at 1.35% maturing on 30 April 2023.

Ouch!

ranciduk

That’s nothing 

 3 year green bonds paying 1.3%

AAAARRRGGH

still 2 years to go  

Pompeydave1967

ranciduk said:

That’s nothing 

 3 year green bonds paying 1.3%

AAAARRRGGH

still 2 years to go  

Ouch ! Shawbrook 1.94% 1 yr fixed finishing today , straight into easy access before another fix.

InvesterJones

ranciduk said:

That’s nothing 

 3 year green bonds paying 1.3%

AAAARRRGGH

still 2 years to go  

Well at least it won't contribute as much to eating up any savings allowance when you get the chunk of interest in one go at maturity

RG2015

Pompeydave1967 said:

ranciduk said:

That’s nothing 

 3 year green bonds paying 1.3%

AAAARRRGGH

still 2 years to go  

Ouch ! Shawbrook 1.94% 1 yr fixed finishing today , straight into easy access before another fix.

I remember the green bonds being well below the market when they were launched.

2010

pecunianonolet said:

Prices are here to stay, if you not got a decent salary increase, you're screwed for a very long time unless you get a decent promotion or change jobs. 

Having subscribed to the 4.17% Shawbrook 1y ISA might have been a mistake if rates peak up further and further. Will we see 4% easy access by summer?

If the BoE raises rates by .25% on 11th May, don`t expect the banks to do the same amount.
In the meantime you`re already getting 4.17%.

If rates do go a lot higher, which I doubt, at least with an ISA you can switch to the higher rate with a 90 day penalty, if it`s worth doing.