The Top Easy Access Savings Discussion Area

southone

Section62 said:

soulsaver said:

Kazza242 said:

Yorkshire BS has launched Internet Saver Plus (issue 12) which currently pays the same interest rate as the previous issue: 1.60% (on £50K+), 1.55% (£10K+) and 1.25% (£1 - £9,999).

See https://www.ybs.co.uk/savings/product?id=YB681614W

Weirdly, IMO, same rate as Iss11. 
What's the point of that?

Maybe so they have the option of increasing the rate paid on issue 12 later, without (necessarily) having to pay more to all those holding money in issue 11?

They seem to be Coming up with a new issue each month and hoping that nobody notices that the interest hasn't gone up on the old issue

Kazza242

soulsaver said:

Kazza242 said:

Yorkshire BS has launched Internet Saver Plus (issue 12) which currently pays the same interest rate as the previous issue: 1.60% (on £50K+), 1.55% (£10K+) and 1.25% (£1 - £9,999).

See https://www.ybs.co.uk/savings/product?id=YB681614W

ToTP page 627 edited to show Iss 12, thanks.

Weirdly, IMO, same rate as Iss11. 
What's the point of that?

I suspect that YBS will only increase the rate on the new issue 12 Internet Saver Plus account while the earlier issues won't have the same increases.  A number of savings providers use that tactic.  

southone

Kazza242 said:

soulsaver said:

Kazza242 said:

Yorkshire BS has launched Internet Saver Plus (issue 12) which currently pays the same interest rate as the previous issue: 1.60% (on £50K+), 1.55% (£10K+) and 1.25% (£1 - £9,999).

See https://www.ybs.co.uk/savings/product?id=YB681614W

ToTP page 627 edited to show Iss 12, thanks.

Weirdly, IMO, same rate as Iss11. 
What's the point of that?

I suspect that YBS will only increase the rate on the new issue 12 Internet Saver Plus account while the earlier issues won't have the same increases.  A number of savings providers use that tactic.  

Which begs the question what's the point in having variable rate accounts that can go up or down when the base rate changes?

Bridlington1

I've opened the YBS internet saver issue 12 with £1 in it for now. At least this way if the interest rate rises in a fortnight I can simply move everything from the issue 11 account and still have the whole lot easy access, rather than having to put up with the no withdrawals for the first fortnight after opening the account.

Kazza242

southone said:

Kazza242 said:

I suspect that YBS will only increase the rate on the new issue 12 Internet Saver Plus account while the earlier issues won't have the same increases.  A number of savings providers use that tactic.  

Which begs the question what's the point in having variable rate accounts that can go up or down when the base rate changes?

Well, I think it's all about being savvy.  When a savings provider launches a new issue, it's sensible to open it and then monitor the situation in regards to any interest rate increases that may be applied.  

I have both YBS Internet Saver Plus issues 11 & 12.  The higher balance is in issue 11, but I also opened issue 12 on the day it launched with £1. 

If they do apply any interest rate increases, I suspect that they will apply only to the 'on sale' issue 12.  I can then do an internal transfer to move my savings over without loss of interest.    

Expotter

Al Rayan Everyday Saver Issue 3 instant access 1.8%, min £5k, interest (profit) paid monthly.

janusdesign

Expotter said:

Al Rayan Everyday Saver Issue 3 instant access 1.8%, min £5k, interest (profit) paid monthly.

out of interest, do Al Rayan accept initial test deposits of £1, or do they literally need to be £5k ?

jaypers

Investec Online Flexi Saver increased to 1.4% today. 

Rollinghome

janusdesign said:

Expotter said:

Al Rayan Everyday Saver Issue 3 instant access 1.8%, min £5k, interest (profit) paid monthly.

out of interest, do Al Rayan accept initial test deposits of £1, or do they literally need to be £5k ?

They did take test deposits - but that was a while back. You could also go below £5k without effecting interest rate.

soulsaver

ToTP  01/08 Another New Number 1....!

OK rate trappers... Easy(ish) Access, Top (10ish) Of The Pots.. BoE base rate +0.5 =1.75% (04/08)

Updated at 05/08/2022.. c.14.00hrs - Starter for 10; not comprehensive, DYOR.

Latest/recent changes in bold. Links added for all accounts. TIA for all contributions.
Bracketed dates = date rate added/amended here.

1 Al Rayan Everyday Saver iss 3. £5k min 1.80% (01/08) App onlyish. Everyday Saver (Issue 3) | Islamic banking | Sharia compliant & ethical (alrayanbank.co.uk) Thnx @The_Fat_Controller

2 Shawbrook EA Iss29 1.75% (05/08) Min £1k Easy Access Savings Accounts | Shawbrook BankKazza242

3 Virgin Money 1.71% (27/07)c/w M plus c.a. £25k max EASY ACCESS SAVINGS | Virgin Money UK Thnx @ Section62

4 Tandem 1.65% App only 05/08  A greener way to save for the future (tandem.co.uk)MrFrugalFever 

5 Cynergy EA; 1.60% 1yr bonus (05/08) Cynergy Bank thnx @10_66

6 Skipton Double Access 1.56%(04/08) £10kMin   https://www.skipton.co.uk/savings/easy-access/online-double-access-saverSonOfPearl

7= Zopa Smart Saver(App only) - £50k max for newbs. Improved rates(11/07) Access 1.5%. Boosted 7day notice 1.55%.  31day 1.65%; 95day 1.85%  Smarter Savings built for real life 

8= Ford Money 1.55% (04/08) Flexible Savings Account - Easy access savings | Ford Money  Thnx @Kazza242

8= Yorkshire BS*Tiered* Internet Svr Plus iss 12 1.55% (27/07)(1.25%<£10k 1.60%>£50k) (27/07) As Iss 11. View our Easy Access Savings Accounts | Savings | YBS ; Also research  1.5% <£10k with restrictions Savings Account - More Information | YBS 

8= Sainsbury Defined Access iss 13 1.55% (26/07) limited to 3 w/d; £1k min Defined Access Saver with Sainsbury's Bank (sainsburysbank.co.uk) 

11 Charter Bank Easy Access issue 26 - 1.54%  (£5k min.) (28/07) Easy Access (chartersavingsbank.co.uk) thnx @SJMALBA

12 Marcus (and Saga) 1.50% inc 0.25% bonus (03/08)  Savings | Marcus by Goldman Sachs® Saga Easy Access Savings Account thnx @Oliver14

12= Chase: Saver 1.50% (28/03) c/w c.a. App only Home | Chase UK

12= Newcastle BS 1.50% triple access (18/07) Newcastle Triple Access Saver (Issue 2)

12= Family BS 1.50% £1k min (14/07) Exclusive Easy Access Savings Account | Family Building Society

12= Nationwide Triple Access Iss 15 1.50% (21/07) 1 Year Triple Access Online Saver | Nationwide

See prior ToTPs for detail on recent 'drop offs...'. Last posts, pages 627/612/605.  

Drop offs:  Secure Trust Bank, Tesco (now 1.43% 26/07); Gatehouse, Aldermore, Principality (all 1.4%); 

plus Atom, Tandem, Cov BS, Cynergy, RCI, Paragon, Investec. 

Check terms for yourself - DYOR.
Note: These rates may, or may not be applied to existing accounts, plse check.

Also small balance, high rate: VM 2.0% £1k limit, Nationwide FlexDirect 5% on £1.5k (1st year only) Others  of note?

Also see Regular Savings Accounts: The Best Currently Available List! — MoneySavingExpert Forum

And Cash ISAs: The Best Currently Available List — MoneySavingExpert Forum