The Top Easy Access Savings Discussion Area

cricidmuslibale

andyhicks88 said:

The Santander rate was an outlier at the time and I expected only the Sharia accounts to have a go at matching or exceeding it, which was correct, apart from a couple of limited access accounts and the short lived Cynergy account. I never thought most other providers would suddenly start competing with it, so for me this is about where I thought the savings market would be at this point. I think we could start seeing movement again over the next few weeks though but unless we get another Santander type surprise, my thought is that again only the Sharia banks will be pushing 3% or more by the end of the year still. I'm going to guess that the likes of Atom, Zopa, Ford ect won't go much above 2.6%.

I have to disagree here. I think you’re being too pessimistic tbh. I can easily envisage at least a few non Sharia, top ‘easy access’ savings accounts paying c. 3% AER interest, or even a little bit more than this, by roughly two weeks after the base rate rise on November 3rd. In fact I’d be more surprised if this didn’t happen rather than if it did!

t1redmonkey

cricidmuslibale said:

andyhicks88 said:

The Santander rate was an outlier at the time and I expected only the Sharia accounts to have a go at matching or exceeding it, which was correct, apart from a couple of limited access accounts and the short lived Cynergy account. I never thought most other providers would suddenly start competing with it, so for me this is about where I thought the savings market would be at this point. I think we could start seeing movement again over the next few weeks though but unless we get another Santander type surprise, my thought is that again only the Sharia banks will be pushing 3% or more by the end of the year still. I'm going to guess that the likes of Atom, Zopa, Ford ect won't go much above 2.6%.

I have to disagree here. I think you’re being too pessimistic tbh. I can easily envisage at least a few non Sharia, top ‘easy access’ savings accounts paying c. 3% AER by roughly two weeks after the base rate rise on November 3rd. In fact I’d be more surprised if this didn’t happen rather than if it did!

100% agree with @cricidmuslibale .  The base rate is expected to go to 3% on Thursday, so anyone saying they don't think that at least some easy access accounts are going to match the base rate by about mid November are almost certainly going to be incorrect.  

janusd

can anyone confirm that deposits to Cynergy made over the weekend appear the same day, or do they get processed on the next working day?

Band7

janusdesign said:

can anyone confirm that deposits to Cynergy made over the weekend appear the same day, or do they get processed on the next working day?

They do Faster Payments so should process deposits every day. If you are unsure, you could send a Pound or two to test what happens.

Band7

I have just made a deposit to Cynergy. It arrived in about 10 minutes. It shows a Posted date of Monday, 31st, but a Value date of today. In other words, you are good to make deposits at weekends.

andyhicks88

t1redmonkey said:

cricidmuslibale said:

andyhicks88 said:

The Santander rate was an outlier at the time and I expected only the Sharia accounts to have a go at matching or exceeding it, which was correct, apart from a couple of limited access accounts and the short lived Cynergy account. I never thought most other providers would suddenly start competing with it, so for me this is about where I thought the savings market would be at this point. I think we could start seeing movement again over the next few weeks though but unless we get another Santander type surprise, my thought is that again only the Sharia banks will be pushing 3% or more by the end of the year still. I'm going to guess that the likes of Atom, Zopa, Ford ect won't go much above 2.6%.

I have to disagree here. I think you’re being too pessimistic tbh. I can easily envisage at least a few non Sharia, top ‘easy access’ savings accounts paying c. 3% AER by roughly two weeks after the base rate rise on November 3rd. In fact I’d be more surprised if this didn’t happen rather than if it did!

100% agree with @cricidmuslibale .  The base rate is expected to go to 3% on Thursday, so anyone saying they don't think that at least some easy access accounts are going to match the base rate by about mid November are almost certainly going to be incorrect.  

I didn't say that none would I said that most won't and it's likely the sharia banks that will do it.  I would point out that only 3 fully easy access accounts match this base rate we are on now, a few days before it changes again, one of which is a Sharia account.

AndyTh_2

janusdesign said:

can anyone confirm that deposits to Cynergy made over the weekend appear the same day, or do they get processed on the next working day?

I've had weekend deposits delayed, though I can't remember if Saturday ones did, but Sundays have delayed to monday. Results may vary though.

soulsaver

Zopa showing on my account 2.4% primary 2.45 7 day 2.60 31 day and 2.80% on 95 day ... no email or site announcement yet... 

moi

soulsaver said:

Zopa showing 2.4% primary and 2.80% on 95 day - will update when I see the rest...

2.45% on 7 day.
2.60% on 31 day.

soulsaver

moi said:

soulsaver said:

Zopa showing 2.4% primary and 2.80% on 95 day - will update when I see the rest...

2.45% on 7 day.
2.60% on 31 day.

Just beat you..