The Top Easy Access Savings Discussion Area

2010

I`ll be surprised if it`s still around at 1.5% in a couple of weeks time.

The smaller players have a set amount they hope to draw in and then they cut the rate.

dcs34

I-LOV-MONEY wrote: »

This will be useful if the rates stay the same as Marcus, where my money is at present, as they will reduce their rate on the first anniversary of opening an account with them.

The 1.3% base rate of Marcus will probably still be higher than the rate of Beehive once they've decided enough people have moved across and cut their variable rate. Surprised they didn't start slightly over 1.5% to tempt more people over more quickly.

Zero_Sum

Paragon are offering 1.45% and you can start saving with £1, also with monthly interest option.

soulsaver

2010 wrote: »

The smaller players have a set amount they hope to draw in and then they cut the rate.

Maybe an important distinction for some: In Beehive's case they didn't cut the rate - they still pay the 1.55% offered a few months ago, and you can still add to it at that rate..

However it's not available to new applicants.

DragonQ

Now Tesco is dropping to 1% I'm looking for other places to store on-hand cash. I have two Bank of Scotland accounts (£5k @ 1.5%) but instead of setting up DDs on those to get the interest, should I just open a Coventry instant-access cash ISA instead (also 1.5%)? Seems simpler, although the rate will likely only last a year.

50Twuncle

DragonQ wrote: »

Now Tesco is dropping to 1% I'm looking for other places to store on-hand cash. I have two Bank of Scotland accounts (£5k @ 1.5%) but instead of setting up DDs on those to get the interest, should I just open a Coventry instant-access cash ISA instead (also 1.5%)? Seems simpler, although the rate will likely only last a year.

11 years ago - I had a fair amount of savings in a Coventry easy access account - paying a (now unheard of) 5% over 2 years - with more (I believe up to 7.5%) available if you were willing to tie it up for longer.
If only I had known............ !!

I-LOV-MONEY

Hindsight is a wonderful thing !

eskbanker

50Twuncle wrote: »

11 years ago - I had a fair amount of savings in a Coventry easy access account - paying a (now unheard of) 5% over 2 years - with more (I believe up to 7.5%) available if you were willing to tie it up for longer.
If only I had known............ !!

I-LOV-MONEY wrote: »

Hindsight is a wonderful thing !

For anyone interested in such nostalgia trips, you could do worse than reading the first few pages of this very thread, starting as it did pre-crunch in 2007, so plenty of posts about 6/7+% accounts and sundry references to the likes of Icesave and Bradford & Bingley....

quirkydeptless

eskbanker wrote: »

For anyone interested in such nostalgia trips, you could do worse than reading the first few pages of this very thread, starting as it did pre-crunch in 2007, so plenty of posts about 6/7+% accounts and sundry references to the likes of Icesave and Bradford & Bingley....

"Halifax offers stunning '12%' on savings"


https://www.thisismoney.co.uk/money/saving/article-1632307/Halifax-offers-stunning-12-on-savings.html


What could possibly go wrong? ...

DragonQ

50Twuncle wrote: »

11 years ago - I had a fair amount of savings in a Coventry easy access account - paying a (now unheard of) 5% over 2 years - with more (I believe up to 7.5%) available if you were willing to tie it up for longer.
If only I had known............ !!

Indeed. I have a few grand in 1-3 year fixed P2P lending but like having some to hand too. This cash will ultimately go towards paying off a 0% credit card but earning 1.5% interest is better than nothing! If I didn't need it to pay off a credit card at some point I'd just overpay the mortgage (1.84%).