The Top Easy Access Savings Discussion Area

jaypers

aaj123 said:

PhilFox1985 said:

Not an easy access account, but some may be interested...

Investec 90 day notice saver, now up to 4.50%.

They review their rates on the 15th of each month.

They update the rate on existing accounts?

Yes….my 90 Day notice updated from 4.25% to 4.5% this morning. None of this ‘issue’ nonsense. 

aaj123

jaypers said:

aaj123 said:

PhilFox1985 said:

Not an easy access account, but some may be interested...

Investec 90 day notice saver, now up to 4.50%.

They review their rates on the 15th of each month.

They update the rate on existing accounts?

Yes….my 90 Day notice updated from 4.25% to 4.5% this morning. None of this ‘issue’ nonsense. 

That's it. Cynergy begone...

Bigwheels1111

Bye Bye Chip welcome Coventry

Barkin

TiVo_Lad said:

Bridlington1 said:

@soulsaver Oxbury Bank Personal Easy Access Account (Issue 1) now 3.9%

Slightly left of field (no pun intended!). Feels like they might be trying to attract funds ahead of the BoE decision, but will they remain competitive? The 90-day funding window is attractive though.

I must be missing something here. Why is a 90 day funding window attractive? It's a variable rate EA account, so you're not locking in to any particular rate. 

TiVo_Lad

Barkin said:

TiVo_Lad said:

Bridlington1 said:

@soulsaver Oxbury Bank Personal Easy Access Account (Issue 1) now 3.9%

Slightly left of field (no pun intended!). Feels like they might be trying to attract funds ahead of the BoE decision, but will they remain competitive? The 90-day funding window is attractive though.

I must be missing something here. Why is a 90 day funding window attractive? It's a variable rate EA account, so you're not locking in to any particular rate. 

We're in very fluid times at the moment, so there's likely to be better rates coming along (almost daily) on either sides of the next BoE decision. So you can open it to grab the rate and issue, but you're not committed to depositing anything for 90 days. If it remains competetive then great, but if it quickly falls off the best buy rates you can let it close automatically. I'm currently juggling the proceeds of a houe sale through multiple best buy EA accounts so it pays to be nimble and keep my options open.

Black_Cat2

aaj123 said:

PhilFox1985 said:

Not an easy access account, but some may be interested...

Investec 90 day notice saver, now up to 4.50%.

They review their rates on the 15th of each month.

They update the rate on existing accounts?

Just wanted to add for new peeps to this bank that it is a minimum of £5000 before you earn interest (sorry if it's already been mentioned) 🐈

jaceyboy

Bigwheels1111 said:

Bye Bye Chip welcome Coventry

Im waiting for Chip too and have a feeling they wont be raising their rates, so Im going to open a joint account with Shawbrook I think...although I hate the way you have to wait to do withdrawals

jak22

Although losing a day's interest is sometimes wrongly assumed for some accounts, with Shawbrook it is something to consider - the transfer can only be scheduled for the next day but the balance is reduced on this day. Funds also seem to arrive later in the next day - too late to meet the deadline for some accounts if funds are being shuffled. Coventry also schedule for next day (and funds again dont arrive early) but at least the balance isnt debited until the next day

Barkin

TiVo_Lad said:

Barkin said:

TiVo_Lad said:

Bridlington1 said:

@soulsaver Oxbury Bank Personal Easy Access Account (Issue 1) now 3.9%

Slightly left of field (no pun intended!). Feels like they might be trying to attract funds ahead of the BoE decision, but will they remain competitive? The 90-day funding window is attractive though.

I must be missing something here. Why is a 90 day funding window attractive? It's a variable rate EA account, so you're not locking in to any particular rate. 

We're in very fluid times at the moment, so there's likely to be better rates coming along (almost daily) on either sides of the next BoE decision. So you can open it to grab the rate and issue, but you're not committed to depositing anything for 90 days. If it remains competetive then great, but if it quickly falls off the best buy rates you can let it close automatically. I'm currently juggling the proceeds of a houe sale through multiple best buy EA accounts so it pays to be nimble and keep my options open.

Thanks, but it still makes no sense to me. You're not 'grabbing the rate' are you? I get that for a fixed rate/term bond, but it's a variable rate account...

If I were constantly looking for the best rates** (I'm not) and that rate appealed to me (it doesn't) I'd fund it straight away, and just move it elsewhere if/when something better comes along.

** I don't have huge amounts in EA accounts, and shuffling things around every few days for an extra fiver a year isn't a good use of my time.

But hey-ho, each to their own. 

TiVo_Lad

Barkin said:

Thanks, but it still makes no sense to me. You're not 'grabbing the rate' are you?

That's exactly what I'm doing. More and more organisations have gone down the "Issue" route whereby a specific rate only applies to a specific issue of a product. Products are also typically available for a fixed period until the financial institution meets their funding goal. So I've now got that issue at that rate. If it stays competitive, then I'll use it. If it falls off a cliff then I won't. Nothing lost.

Your point about chasing rates for an extra fiver is absolutely valid when you have small amounts, or you don't enjoy the sport of maximising returns, but the amount I'm managing means even a small increment in the rate makes a difference. I probably wouldn't be doing this in normal times, but for me, current times are not normal.