We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Top Easy Access Savings Discussion Area
Options
Comments
-
fryedslyce said:
Coventry Limited Access Savers going up to 3.25% from 06/01
Their First Home Saver (which allows monthly deposits of up to £1,000 per month and unlimited withdrawals) will be going up from 2.95% to 5.00%
w.e.f. 6th January 2023.Please call me 'Kazza'.7 -
That's a pretty spectacular increase on the FHS given the monthly amount. Guess I'm filling that up from Jan.
1 -
k_man said:AmityNeon said:Deleted_User said:AmityNeon said:Deleted_User said:As it was explained to me by CHIP.
You could put say £5,000 in the account. End of the month receive the bonus of for arguments sake say £25. You could then withdraw the £25. Now, as it would stand you would still have £5000 in the account but only £4975 would be earning a bonus.The bonus doesn't compound, so if you just ignore it completely for a whole year, it's practically the same as a standard easy-access account paying 3% interest annually. To achieve parity, withdaw the principal balance after a year, retrieve the accrued bonus, and then redeposit everything.
To achieve 3.04% AER, withdraw the principal balance balance every month (including the monthly bonus), and then redeposit to allow compounding.
0 -
kaMelo said:That's a pretty spectacular increase on the FHS given the monthly amount. Guess I'm filling that up from Jan.2
-
Kazza242 said:fryedslyce said:
Coventry Limited Access Savers going up to 3.25% from 06/01
Their First Home Saver (which allows monthly deposits of up to £1,000 per month and unlimited withdrawals) will be going up from 2.95% to 5.00%
w.e.f. 6th January 2023.1 -
jimexbox said:Kazza242 said:fryedslyce said:
Coventry Limited Access Savers going up to 3.25% from 06/01
Their First Home Saver (which allows monthly deposits of up to £1,000 per month and unlimited withdrawals) will be going up from 2.95% to 5.00%
w.e.f. 6th January 2023.Please call me 'Kazza'.5 -
Kazza242 said:Coventry's … First Home Saver (which allows monthly deposits of up to £1,000 per month and unlimited withdrawals) will be going up from 2.95% to 5.00%
w.e.f. 6th January 2023.1 -
Ive seen a report that Chase is raising to 2.7% - maybe from 4 Jan3
-
Are there any meaningful restrictions (in terms of who can open an account, homebuying-wise) for the First Home Saver?0
-
dlevene said:Are there any meaningful restrictions (in terms of who can open an account, homebuying-wise) for the First Home Saver?Please call me 'Kazza'.3
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards