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The Top Easy Access Savings Discussion Area

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Comments

  • pokemaster
    pokemaster Posts: 275 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 10 September 2023 at 7:10PM
    Thumbs_Up said:
    10_66 said:
    Thumbs_Up said:
    Thumbs_Up said:
    friolento said:
    Is there an advantage having £500 in the direct saver? I only have £1 in mine

    I had to log in and check, it’s actually a Income bond @ 3.65%  and a minimum £500 to keep open which I will now close thanks to your prompt.  





    Quick thing, I've never had £500 in mine, just wondering where it told you you had to keep that amount in, don't want mine being closed down.


    I must be suffering from heatstroke because I need the account open to get my whoopee-doo Halifax fiver.




     If you mean what I think you mean, then you can do the same with the Direct Saver.  I too had kept my Income Bond going, with the required minimum of £500, but closed this yesterday and replaced it with the Direct Saver, min £1.  Unless, I'm also suffering from heatstroke and have done the wrong thing.

    Fair play to this forum and the hive of collected minds. Sometimes I just can’t see the wood for the trees, maybe is it lack of critical thinking or apathy on my part.

    Anyway thanks for that, it is now on my to do list for Monday morning.



    I didn't see that you have said it was an "income bond" and was looking all through the "direct saver" information for the £500 minimum lol.... Yeah direct saver is great you can even put in £1.01 for the Natwest/RBS round ups, if you have those accounts too
  • Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
  • KevinG
    KevinG Posts: 2,094 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    I've got First Direct's 7% account at £300 per month which matures in 2 months, that's the only one.
    2kWp Solar PV - 10*200W Kioto, SMA Sunny Boy 2000HF, SSE facing, some shading in winter, 37° pitch, installed Jun-2011, inverter replaced Sep-2017 AND Feb-2022.
  • allegro120
    allegro120 Posts: 1,947 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    Yes, I use monthly saving accounts that pay better interest rates than easy access. I feed monthly savers from easy access.
  • KevinG said:
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    I've got First Direct's 7% account at £300 per month which matures in 2 months, that's the only one.
    Yes, I have a few higher rated monthly savers and try to keep as much as possible in the easy access accounts before feeding the savers.
  • Malchester
    Malchester Posts: 997 Forumite
    Eighth Anniversary 500 Posts Photogenic Name Dropper
    edited 11 September 2023 at 1:59PM
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    No. For the difference in interest gained, it is not worth it, in my view, in comparison to the effort required to keep on top of them. £300 a month into a 7% regular saver gives approx £219 interest (av £1800 at 7% plus £1800 at 5.2% - in Santander easy access) whereas the whole amount (£3600) in Santander 5.2% gives approx £187. Most RS are less that 7% making the difference in interest less.
  • ColdIron
    ColdIron Posts: 9,903 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    Of course, God gave you two good hands to take as much interest as you can :)
    It's surprising how much they all add up, several hundred pounds for me
  • Barkin
    Barkin Posts: 777 Forumite
    500 Posts Second Anniversary Name Dropper
    Zerforax said:
    Those using easy access accounts. Do you also use monthly saving account (or even several accounts)?
    No. For the difference in interest gained, it is not worth it, in my view, in comparison to the effort required to keep on top of them. 
    On the other hand... I have 4 on the go currently, and while a couple are only just above EA rates, I keep them going because now that they're set up to be funded by SO the effort needed is zero. 😊
  • Not sure if this has been mentioned already, but it doesn’t appear to be in @soulsaver 's top 10 list. Principality Double Access rose to 4.85% last week, just above Chip.

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