The Top Easy Access Savings Discussion Area

janusdesign

thought it worth mentioning...
Family BS Market Tracker Saver (1) - 4.95% from 1st January (currently 4.64%) on £500+ (£250k max)

• Interest is calculated daily and added to the account annually on 31 July.
• The interest rate tracks the highest interest rates paid in the taxable immediate access market. It is calculated using data from Moneyfacts® and pays an average interest rate of the 20 highest gross annual variable interest rates, for an investment of £10,000 from a reference group.
• We will review the interest rate four times a year in March, June, September and December and publish the results on our website here no later than 15 calendar days before the end of the review month.
  
• Up to 20 withdrawals are permitted per calendar year without notice or access charge, and can be paid by transfer to your bank account or by transfer to another savings account with us.
• Minimum withdrawal is £100.
• Maximum withdrawal of £25,000 per day, per account.
• Additions are allowed but not required on a regular basis.
• Additions to the account can be made by debit card (online only), by transfer from your bank account, by cheque, by transfer from another savings account with us.

Happy New Year! 🎉

flaneurs_lobster

janusdesign said:

thought it worth mentioning...
Family BS Market Tracker Saver (1) - 4.95% from 1st January (currently 4.64%) on £500+ (£250k max)

• Interest is calculated daily and added to the account annually on 31 July.
• The interest rate tracks the highest interest rates paid in the taxable immediate access market. It is calculated using data from Moneyfacts® and pays an average interest rate of the 20 highest gross annual variable interest rates, for an investment of £10,000 from a reference group.
• We will review the interest rate four times a year in March, June, September and December and publish the results on our website here no later than 15 calendar days before the end of the review month.
  
• Up to 20 withdrawals are permitted per calendar year without notice or access charge, and can be paid by transfer to your bank account or by transfer to another savings account with us.
• Minimum withdrawal is £100.
• Maximum withdrawal of £25,000 per day, per account.
• Additions are allowed but not required on a regular basis.
• Additions to the account can be made by debit card (online only), by transfer from your bank account, by cheque, by transfer from another savings account with us.

Happy New Year! 🎉

Seems rather gimmicky and restrictive for a (by definition) average interest rate. Do you think the rate might become more competitive if other rates are falling? You would have (I guess) a kind of 3 month fix.

janusdesign

flaneurs_lobster said:

janusdesign said:

thought it worth mentioning...
Family BS Market Tracker Saver (1) - 4.95% from 1st January (currently 4.64%) on £500+ (£250k max)

• Interest is calculated daily and added to the account annually on 31 July.
• The interest rate tracks the highest interest rates paid in the taxable immediate access market. It is calculated using data from Moneyfacts® and pays an average interest rate of the 20 highest gross annual variable interest rates, for an investment of £10,000 from a reference group.
• We will review the interest rate four times a year in March, June, September and December and publish the results on our website here no later than 15 calendar days before the end of the review month.
  
• Up to 20 withdrawals are permitted per calendar year without notice or access charge, and can be paid by transfer to your bank account or by transfer to another savings account with us.
• Minimum withdrawal is £100.
• Maximum withdrawal of £25,000 per day, per account.
• Additions are allowed but not required on a regular basis.
• Additions to the account can be made by debit card (online only), by transfer from your bank account, by cheque, by transfer from another savings account with us.

Happy New Year! 🎉

Seems rather gimmicky and restrictive for a (by definition) average interest rate. Do you think the rate might become more competitive if other rates are falling? You would have (I guess) a kind of 3 month fix.

I think it would depend on the rate spread of that top 20... for that 4.95% calculation, the top rate is Ulster @ 5.20% and the 20th is Cambridge BS at 4.65%.. they don't even include their own EA account in that Top 20.

so if that range narrowed a lot, then it might be vaguely competitive, but I can't see that happening - besides, it just needs the lower end of the table to be very low and it will skew the average downwards.

as you say, it is a sort of 3-month fix (EA but you know the rate won't change) - it's not an account for me I think, but thought it might be useful for those who like to make x debit card payments per month, or needed a guaranteed rate for a short period.

MrFrugalFever

Just wanted to point out that this morning both Tandem and Kroo Current Account paid interest. They are the only two accounts I have that pay on the 1st of every month regardless of the day (i.e. today is new years day and therefore a non-business day). All my other savings accounts seem to pay on the next working day or even up to 2 working days beyond the 1st of each month (Zopa for example).

Tandem now has the 'setup regular payments' function live, i've renewed my 0.35% top-up so now continuing with 5% AER overall and the new pots feature currently beats Zopa for interest rates.

It's not a big thing but thought I would mention it.

Zopa_Trooper

CHASE paid today too.

soulsaver

Many thanks to all the ToTP contributors during the year, but a special thanks to @Bridlington1 for his(?) copious, speedy, comprehensive and accurate info.  

ToTP: Top (of The Pots) ranked-by-rate Easy(ish) Access Start Of The Year Top 10.

Links & availability checked as at 12.00 02/01/24

Note: This is a snapshot and isn't maintained: For latest data (and morel info.) see the original doc. linked at the very bottom of this post, in the signature box.

1 Metro Bank Limited Edition Instant Access  5.22% £500 min (10/11) **Risk? Discussion here.**

2 Ulster Bank Loyalty Svr  5.20% £5k+ (29/09)

3 Cahoot Simple Saver 5.12% (09/10)

4 Cynergy Online EA iss 69  5.10 % (24/11)

5 Leeds BS Limited Issue Online Access Account (Issue 53) 5.10% £1k min (13/12)

6 Charter EA iss47 5.07% £5k min (07/12) 

7 Virgin Money Defined Access E-Saver Iss 20  'Tri' 5.07% (08/12) 

8 Kent Reliance EA Iss66 5.06% £1k min FTR (09/12) 

9 Paragon Dble Access Iss5 5.05% £1k min (22/12) 

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

Bridlington1

I've just noticed Co-operative Bank have launched a Base Rate Tracker Account (£1 min) for existing current account customers. The account tracks various amounts below the base rate until 30/6/25, with rate changes coming into effect within 14 working days of any base rate changes. The interest rate is tiered as follows:

It's not a great rate now and will likely be of little use for most but it may be one to open speculatively for those who missed the recent Skipton Base Rate tracker and may have over £100k in EA savings at some point over the next 18 months.

Bridlington1

@soulsaver
Close Brothers EA Issue 2 now 5.05% (£10k min)

SickGroove

Morning,

As Gatehouse are ditching their current EA rate for me on 18/01 looking for the best alternative with easy sign up & immediate withdrawal through an app. I’ve already got Tandem with the bonus, so that’s an option but thinking about Metro but wary of the various feedback about them…but the EA rate is the best.

If I only want to go with them for their EA account, can I easily sign up online or do I need to go into a branch with various bits of ID?

Also, can you withdraw funds immediately through the app & so they arrive into your nominated account instantly?

Cheers

flaneurs_lobster

SickGroove said:

Morning,

As Gatehouse are ditching their current EA rate for me on 18/01 looking for the best alternative with easy sign up & immediate withdrawal through an app. I’ve already got Tandem with the bonus, so that’s an option but thinking about Metro but wary of the various feedback about them…but the EA rate is the best.

If I only want to go with them for their EA account, can I easily sign up online or do I need to go into a branch with various bits of ID?

Also, can you withdraw funds immediately through the app & so they arrive into your nominated account instantly?

Cheers

I had no problem signing up to Metro just for their EA, no branch visit required (nearest is 200 miles away). Others have had a more trying process. Have had current accounts with them in the past, but only briefly as used for switch bonuses.

Just paid my RBS account a quid via the app, money arrived in seconds.