The Top Easy Access Savings Discussion Area

brucefan_2

@dharm999

You can open a new ISA alongside another already filled one as long as you do not deposit funds in this financial year.

From April 6th, everything changes anyway.

Bridlington1

badger09 said:

@Bridlington1
Exciting news re the house purchase. Hope it goes well.
Does that mean you’ll switch your focus to the House buying board? 

I’d like to be a fly on the wall when your conveyancer &/or mortgage lender does their AML checks on the source of your funds😳

In the interests of keeping this thread on topic I've replied to your post in the General Discussion and Whimsical Banter thread.

infoadict

@ soulsaver 

Virgin Defined Access E-Saver has dropped to a new issue at 5.06%

soulsaver

infoadict said:

@ soulsaver 

Virgin Defined Access E-Saver has dropped to a new issue at 5.06%

Virgin Money Defined Access E-Saver | Easy Access | Savings | Virgin Money UK Iss 22 5.06%  3 w/ds before rate drop.

Thanks @infoaddict

pokemaster

Had an email this morning from Family Building Society to say their market trackers are decreasing interest rates.

Market Tracker Saver (1)
Market Tracker Saver (2)

From 4.95% to 4.81% (From 1st April)

refluxer

Chase have just sent out an email detailing changes to their Saver account, the most notable of which is that the interest rate will start to track 1.15% below the BoE base rate from 13th May 2024 onwards...

"We're changing the way we calculate the interest rate on your saver accounts. We used to set our own variable saver rate, but we'll now tie ours to the Bank of England base rate, which you can find on their website. This means each time their rate changes, the annual equivalent rate (AER) on your saver account will change 5 business days later, to stay 1.15% below theirs. The current saver rate is 4.1% AER (variable). AER is the interest you earn each year, including any prior interest payments."

KevinG

refluxer said:

Chase have just sent out an email detailing changes to their Saver account, the most notable of which is that the interest rate will start to track 1.15% below the BoE base rate from 13th May 2024 onwards...

"We're changing the way we calculate the interest rate on your saver accounts. We used to set our own variable saver rate, but we'll now tie ours to the Bank of England base rate, which you can find on their website. This means each time their rate changes, the annual equivalent rate (AER) on your saver account will change 5 business days later, to stay 1.15% below theirs. The current saver rate is 4.1% AER (variable). AER is the interest you earn each year, including any prior interest payments."

And to think Chase was competitive when it started offering this account. It's not that long since the BoE rate was below 1.15%!

ForumUser7

Have they not put in a caveat saying the minimum rate is 0%? 

wiseonesomeofthetime

refluxer said:

Chase have just sent out an email detailing changes to their Saver account, the most notable of which is that the interest rate will start to track 1.15% below the BoE base rate from 13th May 2024 onwards...

"We're changing the way we calculate the interest rate on your saver accounts. We used to set our own variable saver rate, but we'll now tie ours to the Bank of England base rate, which you can find on their website. This means each time their rate changes, the annual equivalent rate (AER) on your saver account will change 5 business days later, to stay 1.15% below theirs. The current saver rate is 4.1% AER (variable). AER is the interest you earn each year, including any prior interest payments."

They have basically "done a Kroo" though, just with a less favourable tracker.

At least we know where we stand each BoE base rate change then. No forecasting required.

jaypers

Not that anyone with any sense still uses it anyway, but……..

We're getting back in touch to remind you that, on 19 March 2024, we’ll be reducing the interest rate payable on your M Plus Saver account. We wanted to keep you informed about this change and the options available to you. 

The current interest rates are 3.55% and 2.52% AER¹ and the new rates will be 2.50% and 2.00% AER¹ depending on your balance. For further information about your rates, please look at the table below.

We appreciate that a reduction in the interest rate you're earning is never good news, and we want to make sure you're aware of the change and the alternative options that are available to you.