The Top Easy Access Savings Discussion Area

JayTulip

So what are the good fixed rate savings deals that are still out there? Everyone, please contribute, as the website tables don't seem to be reflective of what is actually offered by the banks. I checked other Money websites and same applies.

Clydesdale and Yorkshire bank 6.00% gross (4.80% net) for 12 months; rate will change on Friday
Clydesdale and Yorkshire bank 6.05% gross (4.84% net)for 18 months, rate will change on Friday
These 2 banks are part of the same FSA registration, so don't put more than 50K in total with them if you are also looking out for safety of your deposit.
Application can be made by phone, branch or internet.

Stuart05

We have three separate building society instant access accounts just under the threshold, but unfortunately the rates have dropped since we opened them over a year ago. We are now only receiving just over 3%. We were looking to switch to higher paying accounts but notice that many of the best deals haven't dropped their rates yet.

Any idea when these rates are likely to drop so we can make a fairer comparison of what's on offer?

JayTulip

I just confirmed another one that may be worth looking into...
Coventry building society - Poppy Bond. Fixed rate of 6.25% gross (5% net), with a maturity date on 31 December 2009.
Apply over the phone or online.
I don't know when they are rates changing, but I believe it was this Friday as well.

JayTulip

AA confirmed that they still have the 6.30% gross one year bond. They are not sure when the rate will be changed or pulled, similar to Saga and BM.

JayTulip

Coventry BS Poppy Bond with 6.25% gross (5.00% net) is being withdrawn tonight !!! If you want to get in, apply over the phone or on the internet by 20:00 tonight !!! Their call centre is open till 20:00. If you apply today, you will have till Tuesday of next week to return the application they send to you and get in on the savings rate.

Millymax

Am I right in thinking that if I transfer the contents of an older e save account in A and L to another new e save account with a higher rate in the same bank on 1st of the month I will not suffer from a month's lost interest ? Or will they deduct the last month's interest credited to my account on the last day of the month before, just to punish me!! Please advise.

Tibbledom

With the reductions in bank base rates, and savings companies dropping interest rates left, right and centre, I am finding it increasingly difficult to keep up with my account interest rate changes.

The method I currently use is as follows:-

I have set up a directory within my internet browser favourites called "interest rates". I then set up in this directory links to the main interest rate pages for each savings account provider. I do not link to the specific interest rate account I have e.g. "internet 6" because I may miss the introduction of "internet 7" but to the general interest rate page.

I include a brief description in the name, short enough that the full name can be seen when I click on favourites but making sure I include the specific account name and last known interest rate e.g. "Birm Mid-5.99%-E saver issue 2". That way when I check I can locate the interest rate for my specific account and not for an account that has superceded it.

I then check the rates every now and again via the browser favourites.


Waiting for the notification from your savings provider is a mistake (often under the banking code they don't have to tell you for a month or even at all).


What are others doing to spot the interest rate changes?

JayTulip

I have decided to go by the way of least resistance I suppose...
I was able to get in on the BM's offering of the 6.6% annual gross rate for 12 months. So I am putting my money there. I received the application 2 days ago, and although the product is no longer offered, any applications returned by 30th Nov. will be honoured. That is the message on BM's customer service phone recording. I also put some money away for 18 months at
6.1% annual gross with Yorkshire Bank/Clydesdale bank. And I left some money to have quick access to with A/L and Tesco. These are still above 6%, however, on 27th Nov. Tesco will be reducing the gross rate from 6.5 to 6.00. Still not too bad, considering that you have ready access for the money.
Also, Saga and AA, if you have applications with them, anything submitted by the 30th Nov. will be honoured. I applied for Saga 7% fixed deposit on the same day as BM, but did not receive anything. Maybe early next week. In which case, I will invest with them rather then BM at 6.6%

Arch_23

'Rates are effective from 18 July 2008' - AA Internet Saver

what does that mean exactly?

thanks

Dan29

Arch_23 wrote: »

'Rates are effective from 18 July 2008' - AA Internet Saver

what does that mean exactly?

thanks

That's when they last changed their interest rates.