The Top Easy Access Savings Discussion Area

johan46

So, right now I have about 12K in an instant savings account that just got out of the bonus period, so I should change.

I tried opening a halifax online saver last month for the 2.8 rate, but by the time it got opened the rate fell to 2 or 2.2 or something - so I'm not sure I'll be using it.

Any alternatives right now? I see the rates have declined considerably..

The only other savings account i have is a regular saver for 250 a month with barclays, which is pretty much ok, and a cash isa that's on my limit for the year.

Repairman77

Like the folks above, I've been searching for a decent rate to invest 11K in, had been with Santander eSaver for the last year at 3% but that ends in 30 days time. Went in the bank about 3 weeks ago and they said wait till it runs out and join eSaver v.8 at 2.7%, looked the other day and that's now finished, on eSaver v.9 at just 1.5% and variable! What are they all playing at, no Fixed rates for 12 months from any of the banks now on Instant Access and truly pathetic rates. I can't understand it as the base rate is still 0.5%. Are they likely to improve; it seems hardly worth saving?

AndyJ52

Thanks for all the feedback guys, much appreciated.
I'm going to give Secure Trust Bank a try with some of the cash as they're offering 3% APR with 120 days notice currently & have their own UK FSCS protection.
On another savings matter.... does anyone know when ING savings accounts will acquire Barclays UK FSCS protection? Haven't read anything about, but that doesn't mean the info isn't out there!
Cheers! Andy

badger09

Repairman77 wrote: »

I can't understand it as the base rate is still 0.5%. Are they likely to improve; it seems hardly worth saving?

Rates are currently very low because the banks simply don't need to attract money from savers. They are getting enough from the Government/BOE at very low interest rates.

Unless/until that supply dries up, rates for savers will not improve

gadgetmind

Risk free returns are low globally, and even going for higher risk isn't getting the yield it used to.

Barclays just got some 10-year notes away at 7.625% despite them being subordinate to even the ordinaries and wiping out totally if the bank's capital ratio goes below 7%. I thought this was one for the mugs but they flogged $17 billion of them!

http://www.bloomberg.com/news/2012-11-16/barclays-contingent-notes-fall-amid-short-selling-speculation.html

BobQ

CitySlicker wrote: »

It appears the Derbyshire 2.5% rate has been pulled and now offers 2.2%.

Does anyone know if they accept applications at the higher rate that were sent in a few days before they pulled it?

I-LOV-MONEY

Here's an idea. Ring them in the morning!

frugalescrow

It's getting harder to get any kind of decent return without any risk at all.

I-LOV-MONEY

It depends what you define as 'risk'. If it means investing in Dodgy Bank then I wouldn't touch them. If it is that the rates may go down, well you have to accept that - the only other thing you can do is find a fixed interest account with the 'risk' of no withdrawals (so you have to be pretty sure you won't need the money).

Good luck, and let us know if you find anything suitable.

murphydavid

I see the article "top savings accounts" is showing 1 year fixed rates best buy as First save at 3% but having just clicked on the link it would appear to be down to 2.8%. However a check with moneysupermarket shows Baroda MAX 1 Year Fixed Rate Bond at £500 Min deposit at 2.95%. I have had an account with them in the past with no problems, that said I like on line dealings.