The Top Easy Access Savings Discussion Area

alanji

Egg have dropped there variable bonus rate to 1.6%, making the total rate 2.85%. As I posted already, this confirms that quoting an attractive bonus, which is variable, is completely meaningless and a flagrant attempt to con people into opening an account.

alanji

The good news is that the Sainsbury account, which is a 'genuine' 2% bonus fpr 12 months, is extended to 7 April. Note monies (min £5000 to get the bonus) must also be paid in by the closing date. Do not pay in more than you will not need as you lose the bonus from the date of any withdrawal - open a separate account for money you may need in partners name, perhaps?

EDIT - current rate is 3% incl bonus

Tibbledom

alanji wrote: »

The good news is that the Sainsbury account, which is a 'genuine' 2% bonus fpr 12 months, is extended to 7 April. Note monies (min £5000 to get the bonus) must also be paid in by the closing date. Do not pay in more than you will not need as you lose the bonus from the date of any withdrawal - open a separate account for money you may need in partners name, perhaps?

EDIT - current rate is 3% incl bonus

Well spotted.

My reading of the terms and conditions is that it only has to be funded by the minimum 5K before 7 April, and then the rate (for the 12 months after the initial deposit) of at least base rate +2% applies to both the initial 5K and importantly to subsequent deposits after 7 April into the same account.

I've sent an on-line enquiry to them to ask them to absolutely confirm that the special rate applies to deposits after 7 April (assuming the initial deposit of 5K is made before 7 April).

This is crucial to me as I am getting higher than 3% in my other internet accounts so my initial deposit will be for the minimum 5K only. But if in the future this account starts paying more (because of the guarantee) I want to be able to transfer those savings into this account.

ahai1

I have noticed that ICICI have gone down to 2.45% which is not that good. Dizzyblonde look at the instant access savings accounts as you can get 2.75% from some line Norwich and Peterborough. It should be in the article.

freddymyfriend

very quickly..
I've got 26 K in a cash Isa with abbey which at the moment gives me a miserable 1%. As I don't need to withdraw from it, will I be better off in transfering the full balance into a 1 year fixed ebond??

alanji

Tibbledom wrote: »

Well spotted.

My reading of the terms and conditions is that it only has to be funded by the minimum 5K before 7 April, and then the rate (for the 12 months after the initial deposit) of at least base rate +2% applies to both the initial 5K and importantly to subsequent deposits after 7 April into the same account.

I've sent an on-line enquiry to them to ask them to absolutely confirm that the special rate applies to deposits after 7 April (assuming the initial deposit of 5K is made before 7 April).

This is crucial to me as I am getting higher than 3% in my other internet accounts so my initial deposit will be for the minimum 5K only. But if in the future this account starts paying more (because of the guarantee) I want to be able to transfer those savings into this account.

That is certainly my reading but I would be glad to hear what response you get as I am in the same position as you.

littlemrtinkle

freddy move isa to barclays 3.61 instand access or halifax 3 % fixed (4 withdrawels allowed) . keep that tax free haven, you'll be quids in when rates go sky high :-)

Jake'sGran

DIZZYBLONDE wrote: »

Hi I Need Some Advice - I Have £100,000 In Savings That Are Not Earning Hardly Anything I Do Not Want My Money Tied Up For Any Period Of Time As I Am Exploring Buying A Holiday Home In France But As Yet Am Undecided. Any Help On Best Savings Accounts Please Will Be Welcome. Am New To This Site.

Thanks Dizzyblonde

Read the small print on any account you do open as I have noticed that some of them actually reduce the rate when you have over a certain amount. Don't know why?

Jake'sGran

freddymyfriend wrote: »

very quickly..
I've got 26 K in a cash Isa with abbey which at the moment gives me a miserable 1%. As I don't need to withdraw from it, will I be better off in transfering the full balance into a 1 year fixed ebond??

Keep the ISA if you are a tax payer. There were a few well known companies paying more than 3% on ISAs in last Sunday's Times.Have a look at Newcastle BS who are paying 3.5%, Nat West 3.51%, and Lloyds TSB are paying 4%
(variable) on a current account. I am going to take a punt or two on the stock market, buying a few shares each month in those that haven't fallen too much and which pay high dividends.

Kim_Possible

littlemrtinkle wrote: »

freddy move isa to barclays 3.61 instand access or halifax 3 % fixed (4 withdrawels allowed) . keep that tax free haven, you'll be quids in when rates go sky high :-)

are these barclays instant access and hailfax fixed -taxable? and what you mean by "keep the tax free haven", if ur saying to move to barclays or halifax? [sorry new to this trying to seek tips]