The Top Easy Access Savings Discussion Area

Bridlington1

@soulsaver
Paragon Dble Access Iss5 5.05% £1k min now NLA

Bridlington1

Bridlington1 said:

@soulsaver
Paragon Dble Access Iss5 5.05% £1k min now NLA

Paragon Dble Access Iss6 now 5.16% (£1k min)

Chemical_Grrl

Question, I’ve recently moved my savings from a Chase account to Coventry BS, the advertised rate was 5.15%, I opted to have the interest paid monthly and the rate now shows as 5.03%, is the rate lower due to the compound interest I’ll earn on the monthly additions?  Will I end up with the same result if I have the interest paid annually vs monthly or do I benefit more from the monthly payments?

grumbler

Chemical_Grrl said:

Question, I’ve recently moved my savings from a Chase account to Coventry BS, the advertised rate was 5.15%, I opted to have the interest paid monthly and the rate now shows as 5.03%, is the rate lower due to the compound interest I’ll earn on the monthly additions?

Yes

(1+5.03%/12)^12-1 = 0.051476 =5.1476%

Bridlington1

@soulsaver
Hampshire Trust Bank Online Easy Access Account (Issue 17) now 5.06% (£1 min)

Bridlington1

@soulsaver
Virgin Money Defined Access E-Saver Issue 21 'Tri' 5.11% (£1 min) (replaces Issue 20 at 5.07%)

Ponchos

Nick_C said:

SeriousHoax said:

CuparLad said:

Details are here:

https://www.moneyboxapp.com/fscs-protection/

It depends what product you have as to where the money is held and hence the FSCS protection available to you.

Thanks, it's the first time I've heard about moneybox.

Moneybox is very useful for generating a weekly direct debit.  I save £2 a week and move it back at the end of each month.

I was looking for an extra direct debit that wouldn't depend on me spending money (using paypal or paying off the credit card) so this was good to find. Just set up the Simple Saver. Thanks for the tip!

fotow

Bridlington1 said:

@soulsaver
Virgin Money Defined Access E-Saver Issue 21 'Tri' 5.11% (£1 min) (replaces Issue 20 at 5.07%)

Thanks for the info. So if I have issue 20 can I open issue 21 and keep both going ?

Bridlington1

fotow said:

Bridlington1 said:

@soulsaver
Virgin Money Defined Access E-Saver Issue 21 'Tri' 5.11% (£1 min) (replaces Issue 20 at 5.07%)

Thanks for the info. So if I have issue 20 can I open issue 21 and keep both going ?

I can't see anything in the terms to suggest you can't have both issue 20 and 21 simultaneously.

PosterBoy77

Martico said:

I've got an ISA with Wealthify, and they've just introduced an EA savings account (via ClearBank) that's currently at 4.91% AER (4.8% gross). Says it's tracked at 0.45% gross below the BoE base rate. Not the best, but not too shabby

A good spot. Almost the same account as what Chip offer, but without any deposit limits or published fair usage policy. I have just opened one. Deposits are almost instant. Withdrawals are a bit slower and seem to work during the daytime in around 1 to 3 hours.