The Top Easy Access Savings Discussion Area

where_are_we

Good news - although I was fairly certain in my original post that the .15% increase would apply on 11/1/22 to my present Tesco Internet Saver @ .69% making it .84% from 11/1/22. There will be some who have an TIS @.59%,.60% or .61% who will also benefit from a .15% uplift. For those who don`t have a TIS you can get one today @.49% which will become .64% on 11/1/22. You can have up to 5 or 6 TIS`s so if the .49% (.64% from 11/1/22) one is replaced by a higher rate just open a new one and transfer all money across to it. Remember that ,although it is instant access, you cannot use your initial deposit for 2 working days. If this is a problem, open with a pound and then transfer the rest over a couple of days later.

pearl123

Do we have a list of the banks/building societies, which increased their interest rates? Or was it just Tesco! 

RG2015

pearl123 said:

Do we have a list of the banks/building societies, which increased their interest rates? Or was it just Tesco! 

@djpailo posted the link below on this thread on 20 Dec 2021. It has three providers increasing their basic rates, Tesco Bank, NS&I and  Santander.

https://www.moneysavingexpert.com/news/2021/12/bank-of-england-base-rate-rises/

rarrarrar

Probably been mentioned before but :- While Shawbrook offer good Instant Access rates, When raising ( and maybe lowering) their interest rates they just create a new Issue with the better rates, existing savers do NOT get the increased rate unless they ask for it !
You cant do it yourself through the website.
Having said that Shawbrook do move the money quickly when asked by secure message.

I-LOV-MONEY

rarrarrar said:

Probably been mentioned before but :- While Shawbrook offer good Instant Access rates, When raising ( and maybe lowering) their interest rates they just create a new Issue with the better rates, existing savers do NOT get the increased rate unless they ask for it !

Interesting.  Now that insurance companies must offer the same price to new and existing customers, I wonder if this applies to banking as well?

ColdIron

Excellent, as expected ...

Billycock

ColdIron said:

Excellent, as expected ...

I can't find this online, is there a link please?

Sea_Shell

Billycock said:

ColdIron said:

Excellent, as expected ...

I can't find this online, is there a link please?

You won't get it unless you have a DeLorean!!!

ColdIron

You only get this if you opened the Tesco Internet Saver that was on offer in the first part of December 2021. The interest is made up of the Tesco Standard Interest Rate (0.10% at the time) and the Bonus Interest Rate (0.59% at the time). Since the BoE increased rates by 0.15% mid December, Tesco said they would increase their standard rate by 0.15% to 0.25% which with the bonus brings it up 0.84%

The reason I bring it up is that it was part of an ongoing discussion further up in the thread

ColdIron

[Post removed by Billycock]

Far from it. Sea_Shell is correct, you would need a time machine to get it if you had not opened the account when it was on offer