The Top Easy Access Savings Discussion Area

janusd

OllyStreet said:

I appreciate the tip but this is pretty much the same as using the MSE page, except having to click each provider to see the "stipulations" (as I call them). 

I would suspect the moneyfacts page to be updated quicker and more often than the MSE page - though tbf I hardly ever bother checking the MSE tables because a) the products will be shown in the moneyfacts tables (with more info) and/or b) they would have been mentioned in one of the threads here that i'm subscribed to.

it would only take a few minutes to do your checks - it's not like the list is changing every 5 minutes (or days now!).

OllyStreet said:

My needs are a savings account that is easily accessible, so no minimum withdrawals, no strange 'bonuses', no interest only above a certain amount. Just a list of accounts that can be easily compared against each other.

Hampshire Trust @ 5.15%, Cahoot @ 5.12 would meet those stipulations I suspect - but unless MSE were to do something like Zopa_Trooper suggests (which I doubt they will), then your "stipulations" might not be someone elses and so such a list might have limited appeal... hence why it's easier (though longer) to do the searching yourself... also, is one of the stipulations that you might need the money *now* or can you wait until tomorrow? not even MF shows that, so it's often a case of experience of knowing and/or checking with each how quick withdrawals are, e.g Cahoot would be immediate; Coventry BS would be tomorrow.

that said, there is someone in this thread who periodically posts a screenshot of their excel table showing "True EA accounts" and soulsaver's list (sorry I can't remember who) - that might be the closest thing to what you want i've seen here, though no guarantees that list meets your stipulations.

for me, bonuses are irrelevant - either the account will be upgraded before the bonus ends (hello Cynergy!), or you worry about it after the end of the bonus - either way, no big deal.

OllyStreet said:

I'm sure there are plenty of MSE users who would appreciate a simplified list.

there's nothing to stop you from making one and starting a thread of your own for it! 

patpalloon

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

patpalloon

patpalloon said:

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

The only other ways I could reduce my tax liability would be to pay £20,000 in to an ISA, which wouldn't make a huge difference or move my money in to long term fixes so no interest income for the current year - but would need to be careful on the year the interest is paid as could be a big hit then.

ColdIron

patpalloon said:

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

Yes

You could move some of your savings into an ISA, probably the simplest way of avoiding tax

You could make pension contributions and mitigate any tax paid with tax relief, another popular option

Premium Bonds maybe, not my preferred choice

If you have a partner then gift some and use their allowances

Investments for dividends and capital gains (and associated allowance/rate) possibly but that's a different ballgame

Zopa_Trooper

Moneybox, currently offering one of the best easy access ISA'a, have introduced a £40 refer a friend scheme.

BooJewels

patpalloon said:

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

Yep, that's the number I gave you 9 days ago in this post when you specifically asked how much could you earn before paying tax.

patpalloon

BooJewels said:

patpalloon said:

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

Yep, that's the number I gave you 9 days ago in this post when you specifically asked how much could you earn before paying tax.

Fair enough, absolutely you did. I'm sorry. Putting the max 20k in an ISA would protect about 1k of the 14k interest from tax assuming 5% interest. I already have premium bonds.

Zopa_Trooper

Zopa_Trooper said:

Moneybox, currently offering one of the best easy access ISA'a, have introduced a £40 refer a friend scheme.

I was just thinking about this offer that came through today. I'm just switching an ISA away from Moneybox because they increased their rate for new customers to 5.09% but refused that rate for existing customers, even though we are all on a variable rate. That would have cost them a maximum of £18 but here they are, willing to give £40 away if I send some business their way. Its a strange world we live in.

Wheres_My_Cashback

Are Gatehouse a Mon-Fri 9-5 bank like Al Rayan or can you move funds out 24/7 365 and are they pretty quick?

Eco_Miser

patpalloon said:

BooJewels said:

patpalloon said:

ColdIron said:

That's right, you can't double dip. £18,570 with the right combination of earnings and interest is the figure you are looking for

Or put it another way - as currently earning 14,000 interest. That means I could only earn up to £4,570 pa without paying any tax at all.

Yep, that's the number I gave you 9 days ago in this post when you specifically asked how much could you earn before paying tax.

Fair enough, absolutely you did. I'm sorry. Putting the max 20k in an ISA would protect about 1k of the 14k interest from tax assuming 5% interest. I already have premium bonds.

Yes, but that's 1k per year 'forever', and you can protect another 1k from April 6th next year, and again the year after, etc. so in less than 14 years it will all be protected. And each time you protect 1k, you can earn another 1k without paying tax.

While I've been following your terminology about protecting 1k, you actually protect whatever interest that £20k earns, which may be more.