The Top Easy Access Savings Discussion Area

searching4bestrates

jaypers said:

searching4bestrates said:

Believe it or not, Atom have finally shifted to 3.88% gross / 3.95% AER...!

About time too. I moved my money out some time ago as they have been stuck at 3.2% for ages. Still not enough for me to bother moving any back as yet so their loss. 

I've just seen this was notified earlier this morning so deleted my duplicate post! I agree, but a significant welcome increase after such a long lag at 3.2%.

refluxer

Doctor_Who said:

Does anyone find it odd that Zopa are offering 3.59% AER through HL (here), but only 3.52% through their own app? Their rates haven't been great for some time, but this looks like they've lost the plot!

It's not too surprising as banks often offer slightly higher rates through some of the savings marketplace sites. What is surprising to me is that that account at 3.59% is the highest easy access account that HL currently offer, which is obviously poor when you consider what is currently available.

Zerforax

If I'm a higher paying tax rate payer and my partner isn't working then presumably all the savings should be in an account in their name since they won't be paying tax on interest earned (vs my limit of £500 interest earned). The amount is somewhere around £20-30k.

Black_Cat2

Is there a minimum amount you have to leave in the Santander account?  It's time for me to move my money 😺

financialbliss

Black_Cat2 said:

Is there a minimum amount you have to leave in the Santander account?  It's time for me to move my money 😺

Is that the Santander ESaver?

Mine has happily been sitting with a balance of zero since April. 

refluxer

Black_Cat2 said:

Is there a minimum amount you have to leave in the Santander account?  It's time for me to move my money 😺

The account required a minimum opening deposit of £1 initially although I don't think it necessarily specifies that that's the minimum balance required to keep the account open beyond that. I would leave £1 in it if you want to ensure it stays open.

jaypers

Zerforax said:

If I'm a higher paying tax rate payer and my partner isn't working then presumably all the savings should be in an account in their name since they won't be paying tax on interest earned (vs my limit of £500 interest earned). The amount is somewhere around £20-30k.

Correct, however normal financial due diligence around worst case scenarios is a consideration. God forbid anything bad ever happens but if something did happen to either of you access to the money can become problematic. You mention ‘partner’ so if you’re not married this can be a bigger issue. Worth having POAs and wills set up. Joint accounts are also something that may work for you, but then you’re obviously liable for tax on 50% of the interest. Sorry to pick up on a depressing subject but it is important. 

ColdIron

Black_Cat2 said:

Is there a minimum amount you have to leave in the Santander account?  It's time for me to move my money 😺

It depends upon which account you are asking about, my eSaver Limited Edition is £0 if that helps

metrobus

I find Chase very good normally, but the delay until next month for the increase has made jump to Atom @ 3.95% AER, will keep using the current account with them though,

Black_Cat2

Thanks guys.  Moving money out now but will leave £1 in it just in case it surprises us all! 🐈