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The Top Easy Access Savings Discussion Area

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  • jak22
    jak22 Posts: 401 Forumite
    100 Posts Second Anniversary
    edited 15 December 2022 at 11:07PM
    Why not start a Zopa thread - or wait for the website to be updated - rather than discussing this in three threads ?

    If you look at Statements in the app the previous month was 2.4% AER and the current one says 2.86% AER


  • Says the rates are shown AER at the bottom.
  • Tiredmonkey - who is this ?
    Thank you for reading this message.

  • The account is a no-brainer given the high monthly deposit limit, and instant access, with no questions asked and no tied product.

    Before I move my 10/6½ d   are you sure there are no catches?!

    Thank you for reading this message.
  • Band7
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    Tiredmonkey - who is this ?
    Zopa.....
  • kaMelo
    kaMelo Posts: 2,859 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper

    The account is a no-brainer given the high monthly deposit limit, and instant access, with no questions asked and no tied product.

    Before I move my 10/6½ d   are you sure there are no catches?!

    The account is, in effect, an easy access savings account. As far as catches, the maximum you can deposit is £1000 per calendar month and the account will mature after 36 months.  My only disappointment learning of the rate increase coming in January is that I've only got 23 months left.
  • ForumUser7
    ForumUser7 Posts: 2,465 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    kaMelo said:

    The account is a no-brainer given the high monthly deposit limit, and instant access, with no questions asked and no tied product.

    Before I move my 10/6½ d   are you sure there are no catches?!

    The account is, in effect, an easy access savings account. As far as catches, the maximum you can deposit is £1000 per calendar month and the account will mature after 36 months.  My only disappointment learning of the rate increase coming in January is that I've only got 23 months left.
    @kaMelo - do they not let us close it and reopen a new one? I was thinking about closing mine, and opening a new one, in order to extend the time it was open for.
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • kaMelo
    kaMelo Posts: 2,859 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    I don't know to be honest but surely a question to ask in 2025/26 rather than now.  You can withdraw all but £1 from the account at any time so I don't really see the need to close the account. Just let it run the three years, use it as and when it's prudent to do so and eventually it will mature. Once matured then see what's available, three years is a long time.
  • jimexbox said:
    Kazza242 said:
    fryedslyce said:
    Coventry Limited Access Savers going up to 3.25% from 06/01
    Coventry's Four Access Saver is also going up to 3.25%.

    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.
    I've read the t&c and there isn't really anything to stop anybody opening the first home saver account. 1k a month at 5% is very tempting. 
    What about the (pre) application checklist where it says you must be saving for a deposit on a first home?

    Are we saying that's not binding because they don't ask the question in the actual application?

    Are any of you who have applied homeowners already?
  • jimexbox
    jimexbox Posts: 12,481 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    jimexbox said:
    Kazza242 said:
    fryedslyce said:
    Coventry Limited Access Savers going up to 3.25% from 06/01
    Coventry's Four Access Saver is also going up to 3.25%.

    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.
    I've read the t&c and there isn't really anything to stop anybody opening the first home saver account. 1k a month at 5% is very tempting. 
    What about the (pre) application checklist where it says you must be saving for a deposit on a first home?

    Are we saying that's not binding because they don't ask the question in the actual application?

    Are any of you who have applied homeowners already?
    You can save for a family member, doesn’t have to be for the account holder. I've applied, I've got to email a pre filled application form back when I receive it. 
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