The Top Easy Access Savings Discussion Area

10_66

chris_the_bee said:

Kent Reliance EA Issue 63 currently 4.5% 
Quote from recd. email:
"We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 August 2023 – you don’t need to do anything."

Note previous issues don't automatically receive new interest rates. You need to close old & open new issue 63. Interest to date will be paid, so might create a tax issue. if so, open new issue 63 & move all except £1 from old to new.

They do automatically increase.  I'm on EA Issue 31, and received the email confirming interest increases to 4.50%.

chris_the_bee

10_66 said:

chris_the_bee said:

Kent Reliance EA Issue 63 currently 4.5% 
Quote from recd. email:
"We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 August 2023 – you don’t need to do anything."

Note previous issues don't automatically receive new interest rates. You need to close old & open new issue 63. Interest to date will be paid, so might create a tax issue. if so, open new issue 63 & move all except £1 from old to new.

They do automatically increase.  I'm on EA Issue 31, and received the email confirming interest increases to 4.50%.

Interesting. That didn't/couldn't happen with my Issue 48. Hence my comment based on my experience. In any case, my email confirmed an increase to 4.78%, higher than yours.

Section62

chris_the_bee said:

10_66 said:

chris_the_bee said:

Kent Reliance EA Issue 63 currently 4.5% 
Quote from recd. email:
"We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 August 2023 – you don’t need to do anything."

Note previous issues don't automatically receive new interest rates. You need to close old & open new issue 63. Interest to date will be paid, so might create a tax issue. if so, open new issue 63 & move all except £1 from old to new.

They do automatically increase.  I'm on EA Issue 31, and received the email confirming interest increases to 4.50%.

Interesting. That didn't/couldn't happen with my Issue 48. Hence my comment based on my experience. 

Did you have at least the minimum £1000 in the account?

I can confirm what 10_66 said - my KRBS accounts have had increases applied automatically to them, with the proviso the rate isn't shown as increased from 0.1% in online banking for any of the accounts where the balance is below £1000.  (my oldest EA is issue 37)

Bridlington1

YBS have announced rises from 10/8/23. Notably:
YBS Rainy Day Issue 2 to 4.55% (up to £5k)
Loyalty 6-access esaver and 6-access Saver Issue 2 (NLA) to 4.7%
One Day Account (under 21s only) to 4.55%
Internet Saver Plus Issue 13 to 4.45%

chris_the_bee

Section62 said:

chris_the_bee said:

10_66 said:

chris_the_bee said:

Kent Reliance EA Issue 63 currently 4.5% 
Quote from recd. email:
"We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 August 2023 – you don’t need to do anything."

Note previous issues don't automatically receive new interest rates. You need to close old & open new issue 63. Interest to date will be paid, so might create a tax issue. if so, open new issue 63 & move all except £1 from old to new.

They do automatically increase.  I'm on EA Issue 31, and received the email confirming interest increases to 4.50%.

Interesting. That didn't/couldn't happen with my Issue 48. Hence my comment based on my experience. 

Did you have at least the minimum £1000 in the account?

I can confirm what 10_66 said - my KRBS accounts have had increases applied automatically to them, with the proviso the rate isn't shown as increased from 0.1% in online banking for any of the accounts where the balance is below £1000.  (my oldest EA is issue 37)

Yes, more than £1K.
My only thought was that I was hoping for an upgrade from issue 48 to 62. However, issue 62 was released on 28th and withdrawn on 31st July @ 4.53% and was replaced by issue 63 @ a lower 4.5%. Maybe that is why it wouldn't auto upgrade and required telephone help. Anyway, as long as people are receiving notification of increased rate, there is no problem. 

happybagger

New YBS rates effective 10 August now uploaded
Open issues:
Internet Saver 4.45
Rainy Day 4.55 (3.9 above 5k)
Source - full document

(apologies hadn't seen Bridlington1's earlier post as screen hadn't refreshed)

TiVo_Lad

Bridlington1 said:

YBS have announced rises from 10/8/23. Notably:
YBS Rainy Day Issue 2 to 4.55% (up to £5k)
Loyalty 6-access esaver and 6-access Saver Issue 2 (NLA) to 4.7%
One Day Account (under 21s only) to 4.55%

Principality are noticeably quiet. They don't even have a "we're thinking about it" message on their website that I can find.

EDIT: Typo

soulsaver

TiVo_Lad said:

Bridlington1 said:

YBS have announced rises from 10/8/23. Notably:
YBS Rainy Day Issue 2 to 4.55% (up to £5k)
Loyalty 6-access esaver and 6-access Saver Issue 2 (NLA) to 4.7%
One Day Account (under 21s only) to 4.55%

Principality are noticeably quiet. They don't even have a "we're thinking about it" message on ther website that I can find.

And Al Rayan appear to have totally given up..

AndyTh_2

disappointing the NLA YBS Loyalty 6 access only going to 4.7%. Coventry's NLA 4 access going to 4.8% and YBS's 4.7% will be beaten soon enough.

Was nice while it lasted before as was generally much higher than highest available easy accesses.

BestSeagull

soulsaver said:

And Al Rayan appear to have totally given up..

I agree. I really wish they'd get back in the game, I like them.