The Top Easy Access Savings Discussion Area

chris_the_bee

Bobblehat said:

Bridlington1 said:

Bobblehat said:

Bridlington1 said:

@soulsaver
Kent Reliance EA Issue 65 now 5.01%

Thanks for the heads-up ... do KR increase earlier EA issue rates to match this, or do you have to apply for the new & ditch the old?

I've found they're a bit hit and miss with regards to which accounts they automatically increase. Issue 64 currently still pays 4.75% so the increase hasn't automatically been applied this time, though I seem to recall they have increased older issues to being higher than currently available versions before and on other occasions they let them lag behind, though not all lag behind to the same extent.

Full list of current rates for KR EA accounts can be found here:
https://www.kentreliance.co.uk/interest-rates

I've ended up with a few Kent Reliance EA accounts with £1 in them and I've never actually had more than £1k in any of them since they've never remained as the top rate for that long or ever become the top rate in the past so I've ended up opening some of them speculatively with the minimum balance in case the rate increases later on and then they've never quite got there so have remained at £1.

I'm doing similar to yourself ... got Issue 63 with only £1 in it, so can only see 0.1% as the rate and couldn't tell if they have increased the rate to 5.01% unless I were to put another £999 in!

I decided to just apply for Issue 65 and use it if I need to .... probably when other accounts mature and fills up Santander next month.

In Kent website, select Interest Rates along the top of the page. It shows all previous issues and their rates.
Issue 63 is 4.5% & issue 64 is 4.75%, both for £1000. They currently do not automatically increase the rates. You have to open a new issue, transfer all except £1 to the new issue, then secure message requesting to close old and to pay principal and interest into new account. It does not affect your tax position, as they pay interest on  5th April regardless of when opened.

1spiral

friolento said:

I was going by their FAQ. Who knows what they really do. I am glad I don't have any money with them now.

OK so I just calculated my daily accrual for August and can confirm that interest is paid from the day deposit is received. I didn't have any weekend deposits so can't confirm whether interest does or doesn't accrue until the next workday for these.

tg99

1spiral said:

friolento said:

I was going by their FAQ. Who knows what they really do. I am glad I don't have any money with them now.

OK so I just calculated my daily accrual for August and can confirm that interest is paid from the day deposit is received. I didn't have any weekend deposits so can't confirm whether interest does or doesn't accrue until the next workday for these.

I checked this a while back and interest was earned from the day of deposit including non working days.

friolento

May be Chip will get round to tidying up the information they publish about their accounts.

At present, I am not too fussed about these inconsistencies because Chip aren't even in the top 10 interest payers but I shall vet them thoroughly before I depositing any money with them, should they ever top the tables again.

10_66

flaneurs_lobster said:

ColdIron said:

10_66 said:

10_66 said:

Has anyone who opened a Santander Edge account on15th August, for monthly interest, received interest yet?

Re my earlier post, just a bit concerned because, though I converted an existing current account I had to the Edge current account, I didn't pay in the £500+/month and don't have the 2+ direct debits on it.  I know there was quite a lot of discussion back on the 15th August about Santander's qualifying for interest terms.

I too await confirmation of this one way or another. I opened mine 17/08

Opened 15/08 - no DD,£500 nor interest payment.

Just received an email alert confirming balance increase, so interest’s arrived.

pokemaster

Can confirm I have received the interest too

REMEMBER: to take the interest out if it has made the account over the maximum of £4k

cadguy77

10_66 said:

flaneurs_lobster said:

ColdIron said:

10_66 said:

10_66 said:

Has anyone who opened a Santander Edge account on15th August, for monthly interest, received interest yet?

Re my earlier post, just a bit concerned because, though I converted an existing current account I had to the Edge current account, I didn't pay in the £500+/month and don't have the 2+ direct debits on it.  I know there was quite a lot of discussion back on the 15th August about Santander's qualifying for interest terms.

I too await confirmation of this one way or another. I opened mine 17/08

Opened 15/08 - no DD,£500 nor interest payment.

Just received an email alert confirming balance increase, so interest’s arrived.

Just checked my edge saver and interest received (no DD, zero balance edge current account)

Nick_C

Re Santander Edge.  £23.04 interest credited in last few minutes.  Dated 16th and moved out just now to a different savings account.

ETA - just seen the email alert which was timed at 23.14

gt94sss2

My Community Finance is now paying 5.01% on balances above 20k

https://www.mycommunityfinance.co.uk/savings-accounts/easy-access-account/easy-access-savings

ColdIron

10_66 said:

ColdIron said:

10_66 said:

10_66 said:

Has anyone who opened a Santander Edge account on15th August, for monthly interest, received interest yet?

Re my earlier post, just a bit concerned because, though I converted an existing current account I had to the Edge current account, I didn't pay in the £500+/month and don't have the 2+ direct debits on it.  I know there was quite a lot of discussion back on the 15th August about Santander's qualifying for interest terms.

I too await confirmation of this one way or another. I opened mine 17/08

Thanks ColdIron, could you post here whether or not you do get your interest, please?

Santander Edge Saver 7.00%

£22.29 received today

Interestingly I opened the account 17/08. Interest received early 17/09 but dated 18/09 and transfer to Limited Saver Issue 3 dated 17/09