The Top Easy Access Savings Discussion Area

martinm1

2010 said:

Eirambler said:

Santander's 5.2% offering looking very good now for the many that have it after today's rate hold decision.

Until they cut it!

Why would they cut it, the boe rate didn't move down today?

tg99

Can someone confirm the max balance you can earn the 5.20% on for Santander limited edition easy access as cannot locate terms? Thks 

BooJewels

It's in the Key Facts document that you would have agreed to have downloaded when you opened the account - it's £250k maximum balance.  You don't get interest paid above that.  

pecunianonolet

tg99 said:

Can someone confirm the max balance you can earn the 5.20% on for Santander limited edition easy access as cannot locate terms? Thks 

250k max allowed.

mebu60

tg99 said:

Can someone confirm the max balance you can earn the 5.20% on for Santander limited edition easy access as cannot locate terms? Thks 

The max balance is £2m. Interest is paid up to £250,000 only. Whether that's on a balance of £250k or the maximum interest payable in the year I don't know but holding £2m for the full term would 'only' generate £104k at 5.2%. It's certainly an ambiguous sentence but as I'm not in that league I just ignored it. 

flobbalobbalob

martinm1 said:

2010 said:

Eirambler said:

Santander's 5.2% offering looking very good now for the many that have it after today's rate hold decision.

Until they cut it!

Why would they cut it, the boe rate didn't move down today?

They may have depended on a rise when they set their rate.

Bridlington1

tg99 said:

Can someone confirm the max balance you can earn the 5.20% on for Santander limited edition easy access as cannot locate terms? Thks 

Like YBS, Leeds BS and a few others Santander have a habit of leaving key facts documents for NLA accounts on their website for a while. The Key Facts document for Santander's 5.2% EA account is currently still on Santander's website. See:
https://www.santander.co.uk/assets/s3fs-public/AD_documents/easy_access_saver_limited_edition_issue_3_key_facts_document_save0665sep23hcd_limited_lr.pdf

iNeed2P

flobbalobbalob said:

martinm1 said:

2010 said:

Eirambler said:

Santander's 5.2% offering looking very good now for the many that have it after today's rate hold decision.

Until they cut it!

Why would they cut it, the boe rate didn't move down today?

They may have depended on a rise when they set their rate.

 A bank depending on what might happen. I very much doubt that. 

Eirambler

I'd be surprised if they cut it unless there is a cut in rates. Obviously it's NLA so there's a limit to how much they will take in and need to pay at that rate. If they cut it that means they got their sums wrong and anticipated a further rate rise in September when issuing the rate. Wouldn't be a good look for them.

Bigwheels1111

So does anyone on here believe the banks don’t get the nod from the boe.
Next you will be telling me politicians tell the truth and are not in if for the money and power.