The Top Easy Access Savings Discussion Area

jaypers

I currently have a number of EA accounts paying 5% plus such as Santander, Charter and Tandem. Would it be worth also opening a CAHOOT account in light of a number of institutions starting to reduce rates, just to keep a few options open? Also see I can put £3k in their Sunny Day Saver, paying 5.2%. Just interested in peoples views on this. Thanks. 

janusdesign

jaypers said:

I currently have a number of EA accounts paying 5% plus such as Santander, Charter and Tandem. Would it be worth also opening a CAHOOT account in light of a number of institutions starting to reduce rates, just to keep a few options open?

I would - Cahoot, like it's parent Santander, will give you 60 days notice on rate decreases - Tandem will give at least 30 and Charter is just 14 days.

if you are already a Cahoot customer, then adding the account will be instant - but i'm guessing you're not an existing customer, so they might send you some letters in the post before you can access the account... i've been with them for nearly 25 years, so that's not something I see personally, so i'm just going off previous posts.

jaypers said:

Also see I can put £3k in their Sunny Day Saver, paying 5.2%. Just interested in peoples views on this. 

I opened it, threw £3k in and will leave it there until it's expiry in November - similar to the Edge savings and Skipton member account. I would imagine, because of the limited balance of the account, there is less chance of it's rate being dropped than with Cahoot's Simple savings account.

4justice2

Section62 said:

Ford Money reducing their Flexible Saver rate to 4.6% (from 4.85%) effective 21 February 2024. (The gross/annual rate)

Mine was reduced from 4.85% to 4.75% on 17.1.24, if they're reducing it again to 4.6% they're on a serious cutting spree! I haven't had the email yet, but I see they're advertising new accounts at the lower rate already.

4justice2

Ah just had the email, reducing from 4.75% to 4.51% (monthly payments) on Ford Easy Saver from 21.2.24.

wiseonesomeofthetime

4justice2 said:

Section62 said:

Ford Money reducing their Flexible Saver rate to 4.6% (from 4.85%) effective 21 February 2024. (The gross/annual rate)

Mine was reduced from 4.85% to 4.75% on 17.1.24, if they're reducing it again to 4.6% they're on a serious cutting spree! I haven't had the email yet, but I see they're advertising new accounts at the lower rate already.

Just had same email, only mine references the monthly rate of 4.51% gross

SJMALBA

4justice2 said:

Section62 said:

Ford Money reducing their Flexible Saver rate to 4.6% (from 4.85%) effective 21 February 2024. (The gross/annual rate)

Mine was reduced from 4.85% to 4.75% on 17.1.24, if they're reducing it again to 4.6% they're on a serious cutting spree! I haven't had the email yet, but I see they're advertising new accounts at the lower rate already.

Just received their latest email - down to 4.51% Monthly on 21.2.24.

My 'holding' £1, which is all it has had for months, will remain unchanged...

EDIT: You beat me to it! 

allegro120

jaypers said:

I currently have a number of EA accounts paying 5% plus such as Santander, Charter and Tandem. Would it be worth also opening a CAHOOT account in light of a number of institutions starting to reduce rates, just to keep a few options open? Also see I can put £3k in their Sunny Day Saver, paying 5.2%. Just interested in peoples views on this. Thanks. 

That's exactly what I've done last week for the same reason.

soulsaver

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

Links & availability checked as at c.12.00 22/01/24

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.

IIRC only alteration from last week start is Metro Bank 5.22% went NLA & Ulster Bank now requires a Current Account 

1  Ulster Bank Loyalty Svr  5.20% £5k+ (29/09) new & existing c/a holders (19/01)

2 Charter EA Issue 48 5.13% (£5k min) (12/01)

3 Cahoot Simple Saver 5.12% (09/10)

4 Kent Reliance Easy Access Account Issue 67 5.11% (£1k min) (10/01).

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

6 Leeds BS Limited Issue Online Access Account (Issue 54) 5.10% £1k min (11/01)

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

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

9 Close Brothers EA Issue 2 5.05% £10k min (03/01)

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

jaypers

allegro120 said:

jaypers said:

I currently have a number of EA accounts paying 5% plus such as Santander, Charter and Tandem. Would it be worth also opening a CAHOOT account in light of a number of institutions starting to reduce rates, just to keep a few options open? Also see I can put £3k in their Sunny Day Saver, paying 5.2%. Just interested in peoples views on this. Thanks. 

That's exactly what I've done last week for the same reason.

Just opened one but need to wait for details via Snail Mail before I can login. Not funding until I can see the account. Is this what you did? 

dcs34

Changes to Newbury's 'Existing Member Account' and 'Welcome to Newbury' accounts - no longer the top of the charts, but possibly still held by a number of forumites:

We have increased the limits on our Existing Member account (EMA) and Welcome to Newbury account.
What’s changed?
We are pleased to tell you we have increased the EMA limit for the 2023-24 tax year only from £4,000 to £6,000. 
In addition, we have made a permanent increase to the maximum deposit for the Welcome to Newbury account from £3,000 to £5,000.
Both changes come into effect on 22 January 2024.  
What does that mean for me?
You can now ‘top-up’ your EMA to a maximum of £6,000 until 5 April 2024. You can also now have maximum of £5,000 in your Welcome to Newbury account.