The Top Easy Access Savings Discussion Area

ColdIron

Various rates have been reported here, it appears it differs from person to person. I am on £35,000. Worth your while checking

karlie88

Noneforit999 said:

Nick_C said:

Noneforit999 said:

Daliah said:

Nick_C said:

  The way interest rates are going, I can see that I might exceed the £1k tax free threshold next year.

Lovely problem to have 

To be fair its only about £37k ish at 2.75% so a lot of people are suddenly going to find themselves over this.

If you are a higher rate tax payer you are going to hit it fairly easily, especially if you fix at say 4%. I think its about £12500 in savings at 4% fixed is going to put a higher rate tax payer over the personal allowance.

We have the proceeds of our house sale in savings at the moment, waiting on some land registry changes before we can buy my wifes sister out of an inheritance house so we have £180k in easy access and we are likely to end up using both our personal savings this year. 

I have nowhere near that amount of cash, but I do have about £20k and I can 5% being the norm next year.  I've already got almost £9k earning 5%.

I don't want the hassle of declaring and paying tax on a few quid over the threshold.  I've got 27 savings accounts with 18 institutions.  Some of them paying pennies a year.

I really don't have the time to keep moving money between savings accounts like that.

We have had £180k in chase for four months now and I am only about to jump ship to Santander as the rate has increased to make it worth my time.

With a £25k a day limit, it takes me a week to move the money anyway so I can't be bothered to keep doing this for 0.25% change each time, hence why I just wait for a decent difference in the rate and then move once.

Valid point re: moving money around and the hassle. But at £180k I'd be moving my money around with every quarter percent increase! 0.25% on 180K is £450 pa.

tunde10

Just opened. Perfect timing.

I have £30k maturing in 2 days in a 1.52% 1yr fix. A further £32k in a 90day Saver in a months time. Both at lower rates than 2.75%.

I can't fixed again as i might need the money witihin 6 months so this is a welcome rate. Matches or beats the notice accounts i've been considering so it's a no brainer.

Just glad i didn't have to go with Al Rayan. Second time in last few years i applied to them and they wouldn't call back or pick up phone for over 1hr. Well done Santander.

S_uk

If you pick monthly interest with the Santander esaver, is it paid on the monthly anniversary of account opening or an a set day each month?

Noneforit999

karlie88 said:

Noneforit999 said:

Nick_C said:

Noneforit999 said:

Daliah said:

Nick_C said:

  The way interest rates are going, I can see that I might exceed the £1k tax free threshold next year.

Lovely problem to have 

To be fair its only about £37k ish at 2.75% so a lot of people are suddenly going to find themselves over this.

If you are a higher rate tax payer you are going to hit it fairly easily, especially if you fix at say 4%. I think its about £12500 in savings at 4% fixed is going to put a higher rate tax payer over the personal allowance.

We have the proceeds of our house sale in savings at the moment, waiting on some land registry changes before we can buy my wifes sister out of an inheritance house so we have £180k in easy access and we are likely to end up using both our personal savings this year. 

I have nowhere near that amount of cash, but I do have about £20k and I can 5% being the norm next year.  I've already got almost £9k earning 5%.

I don't want the hassle of declaring and paying tax on a few quid over the threshold.  I've got 27 savings accounts with 18 institutions.  Some of them paying pennies a year.

I really don't have the time to keep moving money between savings accounts like that.

We have had £180k in chase for four months now and I am only about to jump ship to Santander as the rate has increased to make it worth my time.

With a £25k a day limit, it takes me a week to move the money anyway so I can't be bothered to keep doing this for 0.25% change each time, hence why I just wait for a decent difference in the rate and then move once.

Valid point re: moving money around and the hassle. But at £180k I'd be moving my money around with every quarter percent increase! 0.25% on 180K is £450 pa.

Takes a week to move it though and I would be chasing my tail constantly considering how frequent the rate rises are. Sure, if its .25% every few months then worth a go but its changing that much twice a month now so its easier to just wait for a couple of months and then move it.

Currently trying to work out how much we can keep outside an ISA before we pay tax and then how much needs to go into an ISA!

janusdesign

S_uk said:

If you pick monthly interest with the Santander esaver, is it paid on the monthly anniversary of account opening or an a set day each month?

nothing in the docs either way that I can see, so would assume it's paid on the monthly anniversary of opening.

financialbliss

Santander found my old login details from 2017 and I've managed to reset them and open the account. Email arrived with the account details. But it's currently my only account with Santander and after transferring £2 in with the intention of trying to transfer £1 back out before funding further, it seems I'm not able to transfer directly out of this account. Can anyone confirm this?

Will I need a current account with them? Guess their everyday current account would be fine?

S_uk

financialbliss said:

Will I need a current account with them? Guess their everyday current account would be fine?

I have no other account with them and have just successfully transferred from the esaver to a current account with a different bank.

Silverbullet036

Just opened one in the wifes name (all our savings are in her name). Took seconds as we've been with Santander from when it was Abbey National. Moved some funds over from the 123 CA just to see something in there. Now finding where the best place is to bring funds in from....looks like Gatehouse is the lowest we've got so off we go to drain that down

ColdIron

S_uk said:

If you pick monthly interest with the Santander esaver, is it paid on the monthly anniversary of account opening or an a set day each month?

Nothing that I can see but Santander do seem to base most of their accounts on anniversary/monthiversary. E.g. 123 current account, regular saver etc. For annual interest it is 12 months after account opening so I would guess it will be the same for monthly interest