The Top Easy Access Savings Discussion Area

Boogie83e · 6 July 2023 at 10:54PM

patpalloon said:

Boogie83e said:

patpalloon said:

Question for all -

Would you leave more than 85k in any one institution?

Yes...£439 interest in one month, Santander. Now thinking of two different 6.10% fixed rate (1 year) 85k accounts.

Which Santander account is that?

NLA...eSaver Limited Edition Oct 2022 @ 3.2% (Issue 1) moved to CBS now @ 4.5%😀

soulsaver · 7 July 2023 at 1:35AM

The log jam at 4.20% is about to get cut loose:

The Drop Zone...

11 RCI 'Freedom' Svr £100 min 4.20% (30/06) Savings Accounts | RCI Bank

12 Leeds BS Ltd Issue OL Svr Issue 47 4.20% £1k min (29/06) Limited Issue Online Access Account (Issue 47) | Leeds Building Society

13 Chorley BS EA Svr (2 Withdrawals) 4.20% £500 min (01/07) Easy Access Saver (2 Withdrawals) | Chorley Building Society (chorleybs.co.uk)

14 Investec O/L Flexi Svr 4.20% £5k min (01/07) Online Flexi Saver from Investec | Instant Access Savings Account

15 Monument Bank EA 4.20% ***£25k Min*** App Only (01/07) Monument Easy Access Savings - Monument Bank

RedImp_2 · 7 July 2023 at 8:36AM

Reading about the government calling bank leaders in about failure to raise savings rates as quickly as borrowing rates, I’ve got an Everyday Saver with Santander that they opened when one of my previous accounts matured but I don’t use. I managed to add it to my app and I can see the interest rate on that is 0.85%. For all the people who use this forum actively switching accounts there must be thousands (millions?) of people who are not financially savvy with money in accounts like these.

Krakkkers · 7 July 2023 at 8:44AM

If everyone was financially savvy then the rates would be lower.

Eirambler · 7 July 2023 at 8:54AM

Absolutely, it will only be a relatively small number of people that shift their savings around like this, most people will just have their few thousand of savings in the Nationwide or Nat West at 1% (if even that) and will have never heard or Shawbrook or Tandem etc.