The Top Easy Access Savings Discussion Area

mebu60

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

wmb194

mebu60 said:

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

The Barclays Rainy Day's AER is 5.12%, 5.00% gross on up to £5k. Plus, unlike YBS, it has true instant access.

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

flaneurs_lobster

wmb194 said:

mebu60 said:

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

The Barclays Rainy Day's AER is 5.12%, 5.00% gross on up to £5k. Plus, unlike YBS, it has true instant access.

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

Yes it is but the YBS Rainy Day AER is 5.00%.

friolento

wmb194 said:

mebu60 said:

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

The Barclays Rainy Day's AER is 5.12%, 5.00% gross on up to £5k. Plus, unlike YBS, it has true instant access.

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

If you have filled it up with £5,000, you cannot achieve 5.12%.

My £5k exited the Rainy Day Saver the day Santander launched their 5.2% instant access account.

allegro120

friolento said:

wmb194 said:

mebu60 said:

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

The Barclays Rainy Day's AER is 5.12%, 5.00% gross on up to £5k. Plus, unlike YBS, it has true instant access.

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

If you have filled it up with £5,000, you cannot achieve 5.12%.

My £5k exited the Rainy Day Saver the day Santander launched their 5.2% instant access account.

Almost all of my instant easy access money are in Santander 5.2%, but I still keep a little bit in Barclays Rainy Day just in case some temporary problems with Santander app or site maintenance or anything I can't think of... and maintain approx £100 balance in Chase which I use for purchases.  This is probably unnecessary, but I prefer more than one instant access options.

phillw

friolento said:
My £5k exited the Rainy Day Saver the day Santander launched their 5.2% instant access account.

Mine has moved across now too, but assuming you would move the interest over to the santander account then it's only 0.08% difference (5% vs 5.08% gross).

You're 33p a month better off.

subjecttocontract

I find it incredible that anyone would consider moving their money for an extra 3 pence a day ! Still the world is full of people who are all different and sometimes they surprise me.

friolento

phillw said:

friolento said:
My £5k exited the Rainy Day Saver the day Santander launched their 5.2% instant access account.

Mine has moved across now too, but assuming you would move the interest over to the santander account then it's only 0.08% difference (5% vs 5.08% gross).

You're 33p a month better off.

I am comparing

1. 5.2% on £5,000 with 5.0% on £5,000
2. not having to skim off interest each month like I have to do with the RDS
3. not needing a pre-req current account in Santander
4. not needing a pre-req rewards account in Santander
   
5. not needing 2 DDs in Santander
   
6. not needing to deposit at least £800 a month into the pre-req current account, and remove it again
   

So there's half a dozen advantages that the Santander account offers. That's good enough for me

I would add, I did put up with all the extra hoops that Barclays require you to jump through whilst there was no other EA account paying anywhere near 5%, and I would probably do so again if they were paying more interest than anyone else.

friolento

subjecttocontract said:

I find it incredible that anyone would consider moving their money for an extra 3 pence a day ! Still the world is full of people who are all different and sometimes they surprise me.

I am very glad I could surprise you

pecunianonolet

friolento said:

subjecttocontract said:

I find it incredible that anyone would consider moving their money for an extra 3 pence a day ! Still the world is full of people who are all different and sometimes they surprise me.

I am very glad I could surprise you

0.03 x 365 days = £10.95 a year extra interest. Moving money takes 1 minute.

1 minute "work" to gain £10.95 --> 60 x £10.95 = £657 hourly rate. 

 

Wasting time watching nonsense social media videos becomes a very different perspective 

P.S. We need more MSE related smileys!