The Top Easy Access Savings Discussion Area

Nick_C

I will be moving back from Virgin Money @ 1pc to my tracker ISA with Skipton, which will go to 1.1pc.

GalacticaActual

Santander have finally woken up and realised that they need to increase their savings rates that aren’t linked to the base rate. New rates apply from the 6th April 2022 and are in relation to today’s Bank of England interest rate change (17th March 2022)

https://www.santander.co.uk/personal/support/savings-and-investments/changes-to-your-savings-accounts

GalacticaActual

Santander are also increasing the interest rates on some of their current accounts.

https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

From 28 March 2022, we’re increasing the in-credit interest rates on 1I2I3, Select and Private current accounts from 0.30% AER/gross(variable) on balances up to £20,000 to 0.50% AER/gross (variable) on balances up to £20,000. 

soulsaver

GalacticaActual said:

Santander are also increasing the interest rates on some of their current accounts.

https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

From 28 March 2022, we’re increasing the in-credit interest rates on 1I2I3, Select and Private current accounts from 0.30% AER/gross(variable) on balances up to £20,000 to 0.50% AER/gross (variable) on balances up to £20,000. 

See here from a week ago when it was launched. Santander rate increase to 0.5% on 123 accounts.... — MoneySavingExpert Forum
Why wasn't it posted here? Because 123s are current accounts... and this is a Savings Account thread... although you could be forgiven for thinking otherwise much of the time.

GalacticaActual

soulsaver said:

GalacticaActual said:

Santander are also increasing the interest rates on some of their current accounts.

https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

From 28 March 2022, we’re increasing the in-credit interest rates on 1I2I3, Select and Private current accounts from 0.30% AER/gross(variable) on balances up to £20,000 to 0.50% AER/gross (variable) on balances up to £20,000. 

See here from a week ago when it was launched. Santander rate increase to 0.5% on 123 accounts.... — MoneySavingExpert Forum
Why wasn't it posted here? Because 123s are current accounts... and this is a Savings Account thread... although you could be forgiven for thinking otherwise much of the time.

It was just a follow on from my previous post this afternoon (see page 494 of this thread) as Santander announced on their Facebook page today that their interest rates were changing for some savings accounts based on the Bank of England’s base rate change today. Santander linked to an article on the revised interest rates for savings accounts which in turn highlighted the current account changes too. Perhaps I should’ve put that all in the one post to avoid any confusion? 

gwapenut

soulsaver said:

See here from a week ago when it was launched. Santander rate increase to 0.5% on 123 accounts.... — MoneySavingExpert Forum
Why wasn't it posted here? Because 123s are current accounts... and this is a Savings Account thread... although you could be forgiven for thinking otherwise much of the time.

And also because this thread is for TOP easy access savings, not ripoffs like the non-lite version of S123. The extra £2 a month fee alone knocks at least 0.12% off the already paltry effective rate.

Daliah

soulsaver said:

GalacticaActual said:

Santander are also increasing the interest rates on some of their current accounts.

https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

From 28 March 2022, we’re increasing the in-credit interest rates on 1I2I3, Select and Private current accounts from 0.30% AER/gross(variable) on balances up to £20,000 to 0.50% AER/gross (variable) on balances up to £20,000. 

See here from a week ago when it was launched. Santander rate increase to 0.5% on 123 accounts.... — MoneySavingExpert Forum
Why wasn't it posted here? Because 123s are current accounts... and this is a Savings Account thread... although you could be forgiven for thinking otherwise much of the time.

The thread is about top easy access savings, so I would consider it perfectly reasonable to include current accounts which pay top interest. Many people have, and still are, using the relevant current accounts exclusively for instant access savings.

However, 0.5% is probably not considered "top" by many forumites these days, particularly not if the account carries an unavoidable monthly fee like the 123 does. On that measure, none of the Santander rates cut the mustard, not the 123 and not their savings accounts.

cheesemason

On the BoE rate increase news page on the main site it says:

Yorkshire BS: will increase rates by up to 0.65 percentage points from 12 April.

Does anyone have details of what products are going up by what please?

typistretired

Just says almost all of their variable rates up to a minimum of 0.85% and restricted accounts to 0.90%

cheesemason

typistretired said:

Just says almost all of their variable rates up to a minimum of 0.85% and restricted accounts to 0.90%

Thanks. Where have you seen this out of interest? Couldnt find it on their site, but probably looking in the wrong place