The Top Easy Access Savings Discussion Area

Bridlington1

@soulsaver
Secure Trust Access Issue 9 now 4.98%

poppy10_2

NewPieman said:

Marcus 4.6% (with bonus) emails starting to come out

Good but still not that competitive in the current market

Bridlington1

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.

Bobblehat

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.

Bridlington1

@soulsaver
Monument EA (£25k min) now 5.01%
Harpenden Online Instant Access (£100 min) to pay 4.95% from 18/9/23
Cynergy Online EA Issue 67 now 4.95%, replacing Issue 66 at 5%

1spiral

friolento said:

I used to be a fan of Chip whilst they had the leading rate, and did put up with their odd way of paying interest, which includes not paying interest for the day of deposit.

Where did you get that from? According to T&Cs

" If we receive funds from your Nominated Account on a working day, we will start paying interest on that deposit from that working day. Any funds received after 5pm (UK time) on a working day or on a non-working day will not be credited to your Account until the next working day and we will not pay interest on that deposit until it is credited."

So only applicable to weekends and non working hours for which they aren't the only ones that do this.

friolento

1spiral said:

friolento said:

I used to be a fan of Chip whilst they had the leading rate, and did put up with their odd way of paying interest, which includes not paying interest for the day of deposit.

Where did you get that from? According to T&Cs

" If we receive funds from your Nominated Account on a working day, we will start paying interest on that deposit from that working day. Any funds received after 5pm (UK time) on a working day or on a non-working day will not be credited to your Account until the next working day and we will not pay interest on that deposit until it is credited."

So only applicable to weekends and non working hours for which they aren't the only ones that do this.

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

kjs31

refluxer said: Yes, I'm pretty sure this is simple to do in online banking. A friend did something similar when moving their funds from the Triple to Double Access a while ago. 

Just be aware that you'll probably get a new account number, based on my experience of upgrading from one issue of their Triple Access ISA to a newer issue, at least.

Thanks. I opened the new one, selected the entire balance of Issue 1 to transfer and a message popped up that the existing account would be closed as it takes it below the minimum balance and that the new account would be set up in 2 working days. So all good. 

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.