The Top Easy Access Savings Discussion Area

hansi

NickyDee wrote: »

Can anyone confirm the the AA Internet Saver (Issue 1) has actually dropped or not?

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#instant

Don't know. Checked on their site today and nothing's changed. I want to transfer some money soon so does anyone else know something we don't?

LGG_2

im wondering when sites such as money supermarket are gonna update their savings section..its pretty much imposible to work out which accounts have been cut and which are being cut now.ive lost enough intrest through icesave that i really want to get an account opened but am clueless as to who to go with

deefadog

Looks like they have just changed this today - Earn a monthly rate of 4.53% gross / 4.63% AER*.

LGG_2

https://www.emoneyfacts.co.uk/news/savings-news.aspx

also mentions the AA rate going down.

anyway ive opend an account with abbey @ 4.50. seems pretty much the going rate at the mo for instant access other than the tesco account which i may open later if it settles down. but as this stage i just need somewhere to put my cash as ive lost enough time/intrest with the icesave mess

hansi

4.5% or thereabouts seems to be pretty much the best rate now. Just opened the AA account and can't be bothered to start opening another account, and I wouldn't use Abbey as a matter of principle.

Gambit

hansi wrote: »

I wouldn't use Abbey as a matter of principle.

Agree with you there. Everytime I try to do anything with that bank they manage to mess it up somehow... :mad:

skidder652003

i am completely p****d off with the banks at the moment. Having survived the kaupthing edge fiasco with over 400k, I have spread the money around, scrabbling around like everyone else for the best rates only to see them drop by the time it takes to set them up, send ID, utility bills etc!!! I,m dumping my dosh in a bargain house now and sitting tight, sod the banks, all they care about is screwing us with pathetic low rates which they are happy to drop like a hot stone as soon as it suits them. If rates rise just wait and see how sluggish they are in raising them! Time to get back into property!

forgery

I have a feeling there is a lot in truth in what Skidder, very stressfully, putting across.

As a student with a nice amount of cash to save i'm struggling wondering what to do. Our rates feel comfortable around 6% and now they suddenly drop, I can't go for long term saving simply because I'm moving around a lot and need to know the cash is there. I just opened an AA savings account, now that's dropped. Is there any good advice or are we all in this together just sitting it out???

MiserlyMartin

Those who go into property at a time like this do so at their peril. I would say values will be depressed for at least another 3-5 years and have much further to fall. Anyway who at the moment feels secure enough in their jobs to take on a mortgage?

Whats annoying me is that many savings accounts are now paying less then inflation, eg Saffron BS e saver has just cut to 2.7%! thats 2.16% net! about half the rate of inflation.

I can't see how Banks and BSoc's expect to recapitalise when there is no incentive to save. And they expect banks to lend under these conditions, they need to get real!

JimmyTheWig

MiserlyMartin wrote: »

Those who go into property at a time like this do so at their peril. I would say values will be depressed for at least another 3-5 years and have much further to fall. Anyway who at the moment feels secure enough in their jobs to take on a mortgage?

Skidder mentioned £400k so may well not need a mortgage.
As long as you are in it for the long term (5-10+ years) I don't see a problem with this strategy.