The Top Easy Access Savings Discussion Area

fourmarks

The_Green_Hornet said:

A tablespoon of melted butter every 30 minutes should do it.

Madness! Have you seen the price of butter??

aaj123

For all the discussion on this forum, bear in mind that anyone in the higher rate tax band is quite likely to find that their best return while retaining easy access is likely to be on an instant access 'flexible ISA' product. 

I am surprised how those don't get enough attention here or even in the ISA forum. 

MrFrugalFever

orange-juice said:

Locarno1 said:

I'm tempted potentially to move my savings into a better savings account. I'm currently using Tandem bank which is no longer on the highest interest list of easy-access savings accounts.. Thoughts people?

Open an account with Kroo if you haven’t got one already, but do it via topcashback (£15 offer). Decent rate come June (3.6% AER, currently 3.33% AER).

Got email from them today about the % increase from 1st June, great news!

boo hiss on the TopCashback - I only went and forgot when opening account

t1redmonkey

Oh nice didn't know Kroo were on Topcashback.  Maybe worth opening an account then just for the free £15 (assuming it tracks correctly!).

OceanSound

orange-juice said:

Locarno1 said:

I'm tempted potentially to move my savings into a better savings account. I'm currently using Tandem bank which is no longer on the highest interest list of easy-access savings accounts.. Thoughts people?

Open an account with Kroo if you haven’t got one already, but do it via topcashback (£15 offer). Decent rate come June (3.6% AER, currently 3.33% AER).

+ Soon after opening Kroo account we can choose to   plant 2x trees in Guatemala or India. If no choice is made within 60 days, a tree each is planted at both project.

dgpur

TiVo_Lad said:

Kazza242 said:

The Hampshire Trust Bank Online Easy Access Account (issue 9) is paying 3.65%

The minimum opening amount is £1.

https://www.htb.co.uk/personal-savings/variable-rate-accounts

A little nuance on this one which some people might miss. Especially important for those that are very focussed on how quickly deposits/withdrawls take place (my highlight).

"If you make a payment into your Account by Electronic Payment, we will apply it to your Account on the day we receive it. If we receive it after 1pm, we will apply it [to] your Account on the next Working Day."

Total deal breaker for me. I need 24/7 access for deposits and taking out. 2 hours is the maximum inconvenience I’m willing to accept. Still, hopefully Tandem or Zopa will give us better rates after the base rate increase.

Nick_C

aaj123 said:

For all the discussion on this forum, bear in mind that anyone in the higher rate tax band is quite likely to find that their best return while retaining easy access is likely to be on an instant access 'flexible ISA' product. 

I am surprised how those don't get enough attention here or even in the ISA forum. 

It's not just higher rate taxpayers who should be looking at ISAs.  With interest rates at the level they are, many people with £20k in savings will be liable for some tax, and will be better off with an ISA for some of their savings. 

Noneforit999

Nick_C said:

aaj123 said:

For all the discussion on this forum, bear in mind that anyone in the higher rate tax band is quite likely to find that their best return while retaining easy access is likely to be on an instant access 'flexible ISA' product. 

I am surprised how those don't get enough attention here or even in the ISA forum. 

It's not just higher rate taxpayers who should be looking at ISAs.  With interest rates at the level they are, many people with £20k in savings will be liable for some tax, and will be better off with an ISA fit sine of their savings. 

I am a HR taxpayer and definitely owe some tax on savings, its fairly easy to hit the £500 Personal Allowance with current rates. Assuming the tax man will come after me for it, I have moved money all over the place over the year so he has some work to do to tie it all up!

Now transferred everything to my wife who is a BR tax payer and works part time so gets around £1700 personal allowance which just about covers us. 

Sea_Shell

Noneforit999 said:

Nick_C said:

aaj123 said:

For all the discussion on this forum, bear in mind that anyone in the higher rate tax band is quite likely to find that their best return while retaining easy access is likely to be on an instant access 'flexible ISA' product. 

I am surprised how those don't get enough attention here or even in the ISA forum. 

It's not just higher rate taxpayers who should be looking at ISAs.  With interest rates at the level they are, many people with £20k in savings will be liable for some tax, and will be better off with an ISA fit sine of their savings. 

I am a HR taxpayer and definitely owe some tax on savings, its fairly easy to hit the £500 Personal Allowance with current rates. Assuming the tax man will come after me for it, I have moved money all over the place over the year so he has some work to do to tie it all up!

Now transferred everything to my wife who is a BR tax payer and works part time so gets around £1700 personal allowance which just about covers us. 

I don't think much "work" is involved😉

Provider* reports interest to HMRC.
HMRC adds them all up.
Note your tax record, and amend your tax code (or send a demand)

The "work" is on you...to check they're right😉



*Even if you only held money briefly with any one provider.

Bigwheels1111

Noneforit999 said:

Nick_C said:

aaj123 said:

For all the discussion on this forum, bear in mind that anyone in the higher rate tax band is quite likely to find that their best return while retaining easy access is likely to be on an instant access 'flexible ISA' product. 

I am surprised how those don't get enough attention here or even in the ISA forum. 

It's not just higher rate taxpayers who should be looking at ISAs.  With interest rates at the level they are, many people with £20k in savings will be liable for some tax, and will be better off with an ISA fit sine of their savings. 

I am a HR taxpayer and definitely owe some tax on savings, its fairly easy to hit the £500 Personal Allowance with current rates. Assuming the tax man will come after me for it, I have moved money all over the place over the year so he has some work to do to tie it all up!

Now transferred everything to my wife who is a BR tax payer and works part time so gets around £1700 personal allowance which just about covers us. 

I hope your wife doesn’t need new shoes, dress and handbag.
Or the tax would have been cheaper. 😜