The Top Easy Access Savings Discussion Area

eskbanker

murphydavid said:.

I cant see where you support your claim! So its a bit of a liberty saying I should.

It's all in clause 10.1 of the Ts & Cs quoted earlier, interest is paid according to the key product terms, so monthly or annually.

Not daily....

Consumerist

eskbanker said:

It's all in clause 10.1 of the Ts & Cs quoted earlier, interest is paid according to the key product terms, so monthly or annually.

Not daily....

Interest is CALCULATED daily, irrespective of how often it is PAID.

Daliah

MichaelAP said:

Just a point to mention….. When I opened both a Marcus & ZOPA Account I received from Marcus a letter through the post giving me my account details and other information. ZOPA on the other hand with the exception of an email have not sent anything.

Thank goodness Zopa is all paperless.

AndyTh_2

Black_Cat2 said:

Might be asked before but does the interest over the £85k with Zopa also earn interest or is £85k the maximum you can earn interest from? 🤔

when it was £50k you could still go over £50k from interest, so I expect so. Don't forget tho that its £85k FSCS protection tho (something that should really be updated with inflation)

edit, sorry in regards to if the balance over the £85k, it doesn't seem to state a tiered rate so I think it will earn interest over it.

polymaff

Consumerist said:

eskbanker said:

It's all in clause 10.1 of the Ts & Cs quoted earlier, interest is paid according to the key product terms, so monthly or annually.

Not daily....

Interest is CALCULATED daily, irrespective of how often it is PAID.

davidmurphy wrote "However I can assure you that Shawbrook compounds interest daily".  They don't. Eskbanker put him right.

End of?

GalacticaActual

Skipton Building Society have now published the changes to interest rates on their variable accounts, where applicable (effective 15th August 2022):

https://www.skipton.co.uk/-/media/skipton-co-uk/pdf/savings/Changes-to-Variable-Accounts.ashx


Also, although not a savings account as such, Santander are increasing the interest rate on their 1I2I3, Select and Private current accounts tomorrow, 11th August 2022, from 0.75% to 1.00% on balances up to £20,000 (£4 monthly fee still applies):

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

intalex

Atom have moved to 1.50% AER with a "that's all for now" at the end of the notification...

SonOfPearl

New instant access savings issue by Tesco - 1.58% Gross/AER (variable) – includes a fixed bonus of 1.33% Gross for 12 months.

Pompeydave1967

Atom just not moving with the times…I also checked their fixed 1,2,3 year terms and surprise surprise they have only increased from 2.7% to a whopping 2.75% ! 

intalex

Pompeydave1967 said:

Atom just not moving with the times…I also check their fixed 1,2,3 year terms and surprise surprise they have only increased from 2.7% to a whopping 2.75% ! 

Maybe they only act if customers react first...