The Top Easy Access Savings Discussion Area

mebu60

Millyonare said:

mebu60 said:

snowqueen555 said:

Still on 3.2% and 3.1%, really wondering if I should wait around or move to Shawbrook, is it user friendly? I am sorta tired of moving around but I don't know if I'm being lazy, it is my FTB deposit money, hoping to buy in the next year.

I've never had any issues with Shawbrook, dealings all straightforward. 

Shawbrook are incredibly slow to move cash in or out of their Easy Access saver. Have seen a deposit take up to 8 hours to arrive. Great rates. But nothing "easy" about the account.

They were fine earlier this week taking deposits as I filled up on 3.65%, couple of hours tops. And notified.

Withdrawals are next working day. 

SJMALBA

cheesemason said:

Ford Money just tweeted that their flexible saver and ISA rates are going up tomorrow.  No details of how much yet tho

Flexible Saver now showing as 3.4% monthly (up from 3.27%) in online account.

dgpur

SJMALBA said:

cheesemason said:

Ford Money just tweeted that their flexible saver and ISA rates are going up tomorrow.  No details of how much yet tho

Flexible Saver now showing as 3.4% monthly (up from 3.27%) in online account.

I’m seeing 3.45% gross/AER. Where are you seeing 3.4%?

Edit: never mind. I see that it’s the monthly interest figure vs. the annual.

Kazza242

Leeds Building Society have launched a new issue of their Limited Issue Online Access Account (issue 44), paying 3.40%

The minimum opening amount is £1,000.  See here.

dgpur

Absolutely nothing of interest for ages. I have my money split between Tandem and Chip, and this is the longest I’ve gone without switching in ages. I hope the coming rate rise will kick some providers in the proverbial !!!!!!.

AmityNeon

dgpur said:

Absolutely nothing of interest for ages. I have my money split between Tandem and Chip, and this is the longest I’ve gone without switching in ages. I hope the coming rate rise will kick some providers in the proverbial !!!!!!.

Chip’s tendency to immediately pounce back to the top spot at the slightest whiff of being knocked off its perch will likely keep rate tarting an easy affair. They also paid interest early this morning (unlike last month).

intalex

AmityNeon said:

They also paid interest early this morning (unlike last month).

And for some reason they paid interest up to and including 29th April, anyone know if this is the norm with Chip - i.e. pay for last day of a month to second last of the following month (both inclusive), e.g. 31st March - 29th April or 30th April - 30th May??

jimexbox

dgpur said:

Absolutely nothing of interest for ages. I have my money split between Tandem and Chip, and this is the longest I’ve gone without switching in ages. I hope the coming rate rise will kick some providers in the proverbial !!!!!!.

Zopa will probably up their rates. I can't see anyone topping Chip. 

10_66

Can someone help me see where I’ve gone wrong when trying to follow these instructions from Raisin’s website, please?  It relates to trying to calculate the AER from a Gross figure;

https://www.raisin.co.uk/banking/aer/#:~:text=To%20calculate%20AER%2C%20divide%20the,be%20left%20with%20the%20AER.

 “You can use the following five steps to work it out yourself:

• Start by finding out the gross interest rate
• Divide the gross interest rate by how many times interest will be paid in a year
• Add one
• Increase the result by how many times interest will be paid in a year
• Subtract one”

If I follow it literally (for an account that pays monthly interest over a 12 month period), the following is what I get, so I’m clearly going wrong somewhere!  I am aware that there is a calculator available to do this, but I'd just like to be able to understand the above instructions.

3.56 ÷12 = 0.2966666 +1 = 1.2966666 x 12 = 15.559999 – 1 = 14.559999

ForumUser7

@soulsaver Kent Reliance EA Issue 57

Interest paid	Opening balance	AER	Gross rate
Annual	£1 - £999	0.10%	0.10%
	£1,000+	3.45%	3.45%
Monthly	£1 - £999	0.10%	0.10%
	£1,000+	3.45%	3.40%