The Top Easy Access Savings Discussion Area

Babycakes

Does anyone have any feedback on the NS&I Income Bonds, which seems to be the highest payer at the moment with a 100% protection on the funds (good for >85k savers)

How easy is it to get cash in and out?

socrates

Babycakes wrote: »

Does anyone have any feedback on the NS&I Income Bonds, which seems to be the highest payer at the moment with a 100% protection on the funds (good for >85k savers)

How easy is it to get cash in and out?

My friend opened one last week - cumbersome process - and cash in and cash out takes 3-5 days - he also commented they seem unhelpful

socrates

luckymannn wrote: »

I've got £55,000 in a Santander eSaver which is about to mature. It's currently on 3.2% interest. I see the top easy access acounts now are much lower with NS&I and Investec, both of which I've never heard of and nervous about transferring £55k to!

What are the next accounts down from them as MSE only lists the top 3?

I'd happily lost a couple of 0.1s to have my money in a better known high street bank or even online (I've had Post Office savings before), just want to have heard of them really!!

You can earn 3% pre tax on the following Instant Access Accounts

Santander 123 - 3 accounts £20k maximum in each - £2 monthly charge - offset against 2 DD's (minimum) with cashback on each account and funded £500 pcm externally

Lloyds Classic Vantage - £15k across 3 accounts £5k each - with £1k - moving around internally each month between all 3 accounts by means of standing order

Exactly the same for Bank of Scotland Classic Vantage as above for Lloyds

Steve_xx

luckymannn wrote: »

I've got £55,000 in a Santander eSaver which is about to mature. It's currently on 3.2% interest. I see the top easy access acounts now are much lower with NS&I and Investec, both of which I've never heard of and nervous about transferring £55k to!

What are the next accounts down from them as MSE only lists the top 3?

I'd happily lost a couple of 0.1s to have my money in a better known high street bank or even online (I've had Post Office savings before), just want to have heard of them really!!

Open a Santander 123 current account and you can put 20k of your 55k into that. It costs £2 per month. You get 3% interest on balances up to 20k.

Steve_xx

luckymannn wrote: »

It sounds mental but I don't like all the moving around and tricks. I'd rather just put my money in an account and forget about it for a year.

I'm just so busy worrying about other things at the moment but I know I need to get this money out of Santander because it's going to drop to around 0.1%
(can't remember exact figure as I've misplaced the letter lol).

OK, Bank of Baroda 1 year bond pays 1.9% and has FSCS protection.

socrates

luckymannn wrote: »

It sounds mental but I don't like all the moving around and tricks. I'd rather just put my money in an account and forget about it for a year.

I'm just so busy worrying about other things at the moment but I know I need to get this money out of Santander because it's going to drop to around 0.1%
(can't remember exact figure as I've misplaced the letter lol).

To be honest if you cannot be bothered to earn 1.25% extra on £55k stick with National Savings - and keep your eyes out for new accounts as they come onto the market

The easiest of the options I gave you were Lloyds and BoS

£30K accounted for and takes a few phone calls to sort out plus instant access until a better offer comes along

pqrdef

luckymannn wrote: »

I I see the top easy access acounts now are much lower with NS&I and Investec, both of which I've never heard of

NS&I is National Savings, the people who do the premium bonds and savings certificates. So basically the Treasury. No FSCS because it's too safe to need it.

Derbyshire (part of Nationwide) NetSaver has slipped out of the top 3 but still pays 1.7% easy access. Not for much longer though, I'm predicting Issue 12 any day now.

badger09

luckymannn wrote: »

It sounds mental but I don't like all the moving around and tricks. I'd rather just put my money in an account and forget about it for a year.

I'm just so busy worrying about other things at the moment but I know I need to get this money out of Santander because it's going to drop to around 0.1%
(can't remember exact figure as I've misplaced the letter lol).

To be honest, it does sound a bit mental

Banks are relying on people to feel like you do

It will take a couple of hours max to sort out a few accounts in which to stash your £55k, and then about 5 minutes a month to do the 'moving around and tricks', or you can set up standing orders to do it for you.

Entirely up to you, (and obviously I don't know what other things you're busy worrying about) but £550 net a year is potentially going to waste :eek:

Silky_Racing

Hi guys,

Just noticed that some of you are talking about having multiple Santander 123 accounts? Is that possible? I have one at the moment with the full 20k in but would be good to have another to fill up.

Cheers

socrates

Silky_Racing wrote: »

Hi guys,

Just noticed that some of you are talking about having multiple Santander 123 accounts? Is that possible? I have one at the moment with the full 20k in but would be good to have another to fill up.

Cheers

Officially you can open 3