The Top Easy Access Savings Discussion Area

Zaul22

I would still expect Tandem to go down because the people who use Zopa value the pot system so much they accept low rates to get it. All Tandem has to do is be slightly higher than Zopa. Maybe when the bonus expires that will be it effectively going down though. 

refluxer

flobbalobbalob said:

refluxer said:

Yep - the only bit of the Tandem Instant Access Saver rate that is fixed (and therefore guaranteed) is the 0.35% bonus, unfortunately.

Unfortunately the 0.35% is a top up and the terms say is also variable. 30 days notice for a reduction.

My mistake - well spotted. I'd presumed the bonus would be fixed, just like it is in every other savings account that I've had which included a bonus.

Presumably being able to vary the main rate and bonus rate gives them the option of having two different effective rates on the same account without releasing new issues, by removing or changing the bonus for new customers.

jpsman

Just noticed this in my Tandem app update note (see last para re the ability to make regular transfers coming soon):

peter021072

On 4 September 2023 Santander introduced the Easy Access Saver Limited Edition (Issue 3) "5.20% AER/ 5.08% gross (variable) on savings up to £250,000 for 12 months" according to their own literature.  For those who opened this account then, does '12 months' mean it's a fixed rate until 3rd September 2024, and they will pay any amount up to a £250k at that rate?  

southone

peter021072 said:

On 4 September 2023 Santander introduced the Easy Access Saver Limited Edition (Issue 3) "5.20% AER/ 5.08% gross (variable) on savings up to £250,000 for 12 months" according to their own literature.  For those who opened this account then, does '12 months' mean it's a fixed rate until 3rd September 2024, and they will pay any amount up to a £250k at that rate?  

No its variable

MikeJXE

https://www.santander.co.uk/assets/s3fs-public/AD_documents/easy_access_saver_limited_edition_issue_3_key_facts_document_save0665sep23hcd_limited_lr.pdf

allegro120

peter021072 said:

On 4 September 2023 Santander introduced the Easy Access Saver Limited Edition (Issue 3) "5.20% AER/ 5.08% gross (variable) on savings up to £250,000 for 12 months" according to their own literature.  For those who opened this account then, does '12 months' mean it's a fixed rate until 3rd September 2024, and they will pay any amount up to a £250k at that rate?  

The rate is variable, so it can go down. 12 months' term means that at the end of the term, they will transfer your account to an Everyday Saver which usually pays very low rate.

soulsaver

 Beehive Limited Issue Easy Access Issue 3  5.10% £1k min (12/12). ***NLA 22/12***
Appears to have gone NLA.

kjs31

So if I can’t see anything about renewing the top up in the Tandem app (mine is valid until early Feb) does that mean that I can’t renew it yet? Presumably the option will be available before the current top up expires? I’ve diarised it but still … 

soulsaver

Family BS OL svr (6)  5.04% £100 min (27/09)

Family BS first entered ToTP 27/09, was overtaken but has held the rate ever since. Now it has re-entered the ranks as others have gone NLA or lowered their rates.