The Top Easy Access Savings Discussion Area

Pompeydave1967

I’ve also kept chase app based a/c open as immed transfers on money which is very handy. Ok only 1.5% but for quickness ideal. If keeping huge amounts in and not withdrawing Shawbrook good.

Rollinghome

ProDave said:

RG2015 said:

ProDave said:

So people, what is the best saving rate available please?

Best I have found is Santander ISA up to 2.8% but only on a fixes 2 year.  If you want instant access the best I have found is 1.5% also from Santander.

That seems pathetically low to me, I would have expected higher by now.  What have others found please?

Have you read any of the recent previous posts?

Not to mention the excellent top 10 post that is regularly updated. I think that is currently on page 700.

I have also read this https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

So the shawbrook account seems to be the best instant access at 1.81% at the moment, unless anyone has found better please which was the question.

MSE doesn't include Sharia banks which pay frequently pay better rates.  Try https://moneyfacts.co.uk/ for a fuller list and check out how Sharia banks differ.

janusdesign

ranciduk said:

My shawbrook easy access is still showing as 1.84% monthly 

If this is a variable rate, why haven’t they reduced it to the new lower rate?

there are 2 different issues each paying different rates - the withdrawn Issue 29 (that it seems we both have) will continue to pay the existing 1.84%/1.86% rate; Issue 30 will be the lower rate.... the rates of either issue could go up or down in the future.

ProDave

A question I have not seen answered about the Sawbrook account.  you have to have a minimum balance of £1000 and minimum withdrawal is £500.

But no mention if minimum payment it?  Could I add money to it in any amount or do i have to wait until I have say £500 or £1000 before I can add to it?

RG2015

ProDave said:

RG2015 said:

ProDave said:

So people, what is the best saving rate available please?

Best I have found is Santander ISA up to 2.8% but only on a fixes 2 year.  If you want instant access the best I have found is 1.5% also from Santander.

That seems pathetically low to me, I would have expected higher by now.  What have others found please?

Have you read any of the recent previous posts?

Not to mention the excellent top 10 post that is regularly updated. I think that is currently on page 700.

Thank your for your most constructive reply.  Forum help at it's best.

I have not read all 714 pages of this thread, I do apologise.  I read about the last 3 or 4 and could not find any instant access options better then the ones I had already found.

I have also read this https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

So the shawbrook account seems to be the best instant access at 1.81% at the moment, unless anyone has found better please which was the question.

I did say "recent posts"

For information, @soulsaver has been compiling a top ten list of all easy savings accounts for a few weeks now.

Top Easy Access accounts ranked here: The Top Easy Access Savings Discussion Area - Page 700 — MoneySavingExpert Forum

In my opinion your post was disrespectful to many posters here who are constantly providing helpful information on the latest rates on easy access savings accounts. If you had read the last few of pages you possibly would have found an answer to your question.

On the other hand, I can see how my post comes across as unnecessarily harsh. For this I do apologise.

Pompeydave1967

I did a £1 tester and it arrived within a couple of hours , then did £50 then transferred £950. Then it looked like the 1.86% rate was activated once £1000 was in.

ranciduk

ProDave said:

A question I have not seen answered about the Sawbrook account.  you have to have a minimum balance of £1000 and minimum withdrawal is £500.

But no mention if minimum payment it?  Could I add money to it in any amount or do i have to wait until I have say £500 or £1000 before I can add to it?

You can add as much or as little as you want to - it’s just you won’t get the full interest rate until your account has at least £1000 in it

polymaff

RG2015 said:

RG2015 said:

eskbanker said:

(1+(0.0184/12))^12 = 1.0186

I take it back. It's not at all complicated.

How did I not know this!  

PS. I can even put the formula into Excel as it is.

Don't forget to build into the Excel formula the ability to recognise a non-working day and adjust the predicted monthly payment appropriately - both for that month and the following month.  A little complicated for a weekend, a lot more complicated for other non-working days...;)

I could go on!...

RG2015

polymaff said:

RG2015 said:

RG2015 said:

eskbanker said:

(1+(0.0184/12))^12 = 1.0186

I take it back. It's not at all complicated.

How did I not know this!  

PS. I can even put the formula into Excel as it is.

Don't forget to build into the Excel formula the ability to recognise a non-working day and adjust the predicted monthly payment appropriately - both for that month and the following month.  A little complicated for a weekend, a lot more complicated for other non-working days...;)

I could go on!...

OMG! It is complicated after all. 

I will leave that particular Excel modelling until interest rates have reached a level where it makes an actual flipping difference.

eskbanker

Rollinghome said:

ProDave said:

I have also read this https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

So the shawbrook account seems to be the best instant access at 1.81% at the moment, unless anyone has found better please which was the question.

MSE doesn't include Sharia banks which pay frequently pay better rates.  Try https://moneyfacts.co.uk/ for a fuller list and check out how Sharia banks differ.

MSE does include Sharia banks - for example, the 2.1% Al Rayan account is listed alongside the traditional easy access products in that article.  Moneyfacts is undoubtedly more comprehensive though, as MSE has a policy of only listing the top few accounts rather than trying to summarise the entire market....