The Top Easy Access Savings Discussion Area

RG2015

nottsphil said:

Descrabled said:

Don't forget RBS and NatWest have 5% interest on £1000 each too.

Is the RBS one the Digital Regular Saver?

The Digital Regular Saver is available on both RBS and NatWest, so yes to your question.

jimexbox

nottsphil said:

jimexbox said:

Deleted_User said:

It's all a bit daft at the moment. If somebody brings out a product tomorrow, easy access, 5%, monthly interest, no hoops to jump, they'll be inundated with money. (they'll certainly get mine) However, if next week another provider does the same but at 6% the first provider will lose it all again (They'd certainly lose mine) so how can a provider get the amount of money they require and keep it? A loyalty bonus is the only way I can see.

The only accounts that will pay 5% will be one year fixes. Once your money is in, that's it for a year.

We all know how fixed rate accounts work. Marvo5 was just using those figures hypothetically and could just have easily have used 2.5% and 3%.

The top instant access accounts don't usually have the disparity used in the post, 1%, or 0.5% in yours. Chase were the recent exception. Normally its a hairs breadth between the top accounts, so you wouldn't jump for a 0.1% increase. 

Beddie

nottsphil said:

jimexbox said:

Deleted_User said:

It's all a bit daft at the moment. If somebody brings out a product tomorrow, easy access, 5%, monthly interest, no hoops to jump, they'll be inundated with money. (they'll certainly get mine) However, if next week another provider does the same but at 6% the first provider will lose it all again (They'd certainly lose mine) so how can a provider get the amount of money they require and keep it? A loyalty bonus is the only way I can see.

The only accounts that will pay 5% will be one year fixes. Once your money is in, that's it for a year.

We all know how fixed rate accounts work. Marvo5 was just using those figures hypothetically and could just have easily have used rates of half those quoted.

You are of course correct, we all knew what he meant. The level of nitpicking on this forum is quite exhausting sometimes.

Wheres_My_Cashback

Anyone know if YBS (Loyalty 6 Access) credit deposits on a weekend ?

Sensory

jimexbox said:

nottsphil said:

jimexbox said:

Deleted_User said:

It's all a bit daft at the moment. If somebody brings out a product tomorrow, easy access, 5%, monthly interest, no hoops to jump, they'll be inundated with money. (they'll certainly get mine) However, if next week another provider does the same but at 6% the first provider will lose it all again (They'd certainly lose mine) so how can a provider get the amount of money they require and keep it? A loyalty bonus is the only way I can see.

The only accounts that will pay 5% will be one year fixes. Once your money is in, that's it for a year.

We all know how fixed rate accounts work. Marvo5 was just using those figures hypothetically and could just have easily have used 2.5% and 3%.

The top instant access accounts don't usually have the disparity used in the post, 1%, or 0.5% in yours. Chase were the recent exception. Normally its a hairs breadth between the top accounts, so you wouldn't jump for a 0.1% increase. 

I would, and did for 0.06%, the moment Virgin offered 1.56% over Chase’s 1.5%.

If it doesn’t involve opening a new current account and it’s a simple online application, I’d jump even for 0.01%.

I have dozens of saving accounts with nominal amounts sitting in them, so as time goes by it’s just been a case of transferring money as opposed to actually applying as a new customer.

Stevo_safc

How is the profit (interest) calculated on Al Rayan Everyday Saver?

The website says

2.35% (gross per annum)

Your profit is calculated and credited to your account on the last working day of each calendar month.

Does that mean the profit is calculated only in the final day of the month and credited? Or is it just like most providers where they calculate on the daily balance?

Sensory

Stevo_safc said:

How is the profit (interest) calculated on Al Rayan Everyday Saver?

The website says

2.35% (gross per annum)

Your profit is calculated and credited to your account on the last working day of each calendar month.

Does that mean the profit is calculated only in the final day of the month and credited? Or is it just like most providers where they calculate on the daily balance?

Daily balance.

jimexbox

Sensory said:

jimexbox said:

nottsphil said:

jimexbox said:

Deleted_User said:

It's all a bit daft at the moment. If somebody brings out a product tomorrow, easy access, 5%, monthly interest, no hoops to jump, they'll be inundated with money. (they'll certainly get mine) However, if next week another provider does the same but at 6% the first provider will lose it all again (They'd certainly lose mine) so how can a provider get the amount of money they require and keep it? A loyalty bonus is the only way I can see.

The only accounts that will pay 5% will be one year fixes. Once your money is in, that's it for a year.

We all know how fixed rate accounts work. Marvo5 was just using those figures hypothetically and could just have easily have used 2.5% and 3%.

The top instant access accounts don't usually have the disparity used in the post, 1%, or 0.5% in yours. Chase were the recent exception. Normally its a hairs breadth between the top accounts, so you wouldn't jump for a 0.1% increase. 

I would, and did for 0.06%, the moment Virgin offered 1.56% over Chase’s 1.5%.

If it doesn’t involve opening a new current account and it’s a simple online application, I’d jump even for 0.01%.

I have dozens of saving accounts with nominal amounts sitting in them, so as time goes by it’s just been a case of transferring money as opposed to actually applying as a new customer.

Everyone has their own trigger point, which is entirely up to themselves. I weigh up hassle vs interest. 

chris_the_bee

Wheres_My_Cashback said:

Anyone know if YBS (Loyalty 6 Access) credit deposits on a weekend ?

All of my payments have credited on 1st of a month regardless of whether it is a Saturday, Sunday or Bank Holiday.

orange-juice

refluxer said:

anticlaus105 said:

Well I haven't received my £5 reward for October yet. This is even more odd given I didn't open the saver yet.

It'll just be a matter of timing. Have you recently joined the Blue Reward scheme and if so, have the required 2 direct debits come out since you joined ? The £800 payment in may also be required in that time-frame too.

I rejoined the Blue Reward scheme last Friday (30th Sept) and opened a Rainy Day Saver the same day. I have a load of DDs that come out on the 1st. The £5 Blue Rewards fee was taken on Weds 5th Oct and the £5 DD reward payment was credited the same day, so that is proof that the £5 Blue Rewards fee is still cancelled out provided you meet the criteria. Having a Rainy Day Saver does not affect this.

Smart thinking! My dds don’t come out until the tail end of the month, so based on previous experience, I won’t get my reward until the month after (and be charged another 5). So down -3 so far, but overall interest should be 4.94% annually or so. Still good enough.