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The Top Easy Access Savings Discussion Area
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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
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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
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Mr._H_2 said:RG2015 said:lightbulb2760 said:RG2015 said: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.
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.Also as @Sea_Shell says, you need to check the value HMRC puts on your interest received. Every year they have got mine wrong.
In addition, HMRC always assume one year’s interest is the same for the next year when calculating that years PAYE code. Even if you transfer the savings to your wife, HMRC will assume you are still earning the same interest as the previous year.
They will adjust it when they receive the actual figures but that may be two years later.
Personal Allowance £12570
Personal Savings Allowance £1000
Starting Rate for Savings £5000
If eligable for all three, then the total amount that can be earned tax-free is £18570.
I asked which personal allowance is £1,700 and you quote three different figures, none of which are £1,700.
The poster said "....my wife who is a BR tax payer and works part time so gets around £1700 personal allowance which just about covers us."
They could have made it a bit clearer rather than expect the reader to make these assumptions.
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YBS
Good news for variable rate savings accounts
In response we will be increasing our rates on all of our savings accounts by 0.25% on Wednesday 17 May 2023.
You can find your new interest rate here.Rainy Day Account Issue 2 from 3.60% -> 3.85% and 3.10% -> 3.35% tier dependent
One Day Account -> 3.80%
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.12 -
cheesemason said:Ford Money just tweeted that they are going up to 3.6% on Tuesday at 9am
I have just transferred some money from NatWest this morning and it was there within an hour.
I recognise that this is poor compared with many others but in my opinion it is now quite acceptable.
3.60% is also a decent rate for the smallish amounts I hold in easy access accounts.1 -
RG2015 said:Mr._H_2 said:RG2015 said:lightbulb2760 said:RG2015 said: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.
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.Also as @Sea_Shell says, you need to check the value HMRC puts on your interest received. Every year they have got mine wrong.
In addition, HMRC always assume one year’s interest is the same for the next year when calculating that years PAYE code. Even if you transfer the savings to your wife, HMRC will assume you are still earning the same interest as the previous year.
They will adjust it when they receive the actual figures but that may be two years later.
Personal Allowance £12570
Personal Savings Allowance £1000
Starting Rate for Savings £5000
If eligable for all three, then the total amount that can be earned tax-free is £18570.
I asked which personal allowance is £1,700 and you quote three different figures, none of which are £1,700.
The poster said "....my wife who is a BR tax payer and works part time so gets around £1700 personal allowance which just about covers us."
They could have made it a bit clearer rather than expect the reader to make these assumptions.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
Skipton BS
On Monday 22 May 2023, we will be increasing all of our variable savings rates by 0.25% AER, with no variable rate savings account paying less than 2.55% AER. Further details of these changes will be released in due course. ~ https://www.skipton.co.uk/base-rate-changeBase Rate Tracker Account (Issue 3) (NLA) ~ 3.60% within the next 14 days - Date TBC
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.9 -
Kent Reliance, your new rate will depend on the account issue you currently hold.
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 have opened a Shawbrook EA to add to my Chase, Marcus & Santander now. I’m hoping I can stick with these 4 now!
Did make a rookie error though as I put my Santander current account as my nominated account but then when I did I could make payment directly from my Santander saver I started to do that. Of course as it wasn’t my nominated account eventually it came bouncing back. You get a text to say the money’s arrived but nothing to say it’s been rejected so it did take me a couple of days to realise especially with the bank holidays.
Will have to get used to the delay though, a transfer to Chase and you get notified nearly before you’ve closed the app, this is a few hours as others have said.0
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