The Top Easy Access Savings Discussion Area

oz0707

Aidanmc said:

Cynergy rates must be due a rise soon

cue convoluted closure and opening of new account!

soulsaver

Al Rayan reports 'Scheduled maintenance for 210 mins from 22.00..' tonight?

jaceyboy

The money flying around the banking system right now must be interesting 

UncleK

Aidanmc said:

Cynergy rates must be due a rise soon

Highly likely, given I just moved a chunk out elsewhere as their rates were lagging behind 

Zaul22

Silly Monzo, surely they should at least match Chase as their most direct competition. 

oz0707

UncleK said:

Aidanmc said:

Cynergy rates must be due a rise soon

Highly likely, given I just moved a chunk out elsewhere as their rates were lagging behind 

I've taken to calculating the difference before I bother now. Mostly I let the dust settle a bit then make sure I spread over  selection of the best

MrFrugalFever

Kroo has re-evaluated its rate from 1st July and it will now be 4.10% AER.

Zerforax

Will give it a few days since I don't think the banks expected a 0.5% increase. I get the feeling Investec won't increase the rate so then I'll move away from the 3.75% and look for something which is at least 4%.

mrchagle

Just opened an "Personal Easy Access Account (Issue 1): 4.11% AER" with Oxbury. Never had an account with them before, but I like the basic setup of the online portal which you need to have the Phone App to authenticate. Monthly interest is paid on the 21st of each month no matter what date you opened and deposited. (found this from CS via App Message)

MiserlyMartin

Rheumatoid said:

TiVo_Lad said:

There was market talk this morning that going for 0.5% was validation that the BoE had lost control. They could have gone for 0.25% now and strongly hinted that there was another 0.25% to come at the next meeting, but perhaps they felt that stamping harder would have a bigger effect. It's really going to hurt those coming off a fixed mortgage or are on a tracker or SVR.

Makes you wonder if this dodgy govt got at members indirectly to try and meet their pledge to halve inflation in the stated timeframe - or am I just a cynic?

Cynic yes. They won't get inflation down by having rates at 5%. If you look back to any high inflation period in the past, inflation was only brought down by having positive real rates. With RPI at 10% they need to be above that. That's what the government did in the 70s, now we have a MPC to do this. They've been on zero 'emergency low interest rates' and printed money for the past 15 years instead of the year or two of the emergency. Now they have a big problem. In the 70s they had not printed money and still had a big job to get inflation down. What is laughable are the 2 doves on the MPC, saying that the last rises have not fed through yet, yes the rises that they didn't vote for .Think how terrible it would be with rates still at 0.5% as they wanted