The Top Easy Access Savings Discussion Area

noh

t1redmonkey said:

jimexbox said:

Band7 said:

jimexbox said:

BestSeagull said:

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. 

What’s this about emailing a pre-filled application form?

I applied online, joint account. When I completed my application. I got a message about returning a pre filled application form and id if requested. 

Not received any emails as of yet. 

Same here.  It's annoying because I've opened about 20 accounts this year and Coventry are the only ones to ask for it and I'm pretty certain it's because of a flaw in their online app process (they don't ask for address history, only current address).  Therefore people that have moved in the last 12 months (as I have) will fail the online ID&V check as they don't give you an opportunity to enter previous addresses.

I too am required to return the pre filled application form. I have lived at my present address for over 6 years and have opened many accounts this year without the need for additional ID. 

dekkard

From Principality Building Society:

"For our Savings Members, we will be increasing the rates on many of our variable rate products that are closed to new business on the 22 December 2022."

ForumUser7

dekkard said:

From Principality Building Society:

"For our Savings Members, we will be increasing the rates on many of our variable rate products that are closed to new business on the 22 December 2022."

This feels a bit disappointing from Principality to be honest. I’ve got the Learner Earner Issue 3 and Web Saver Issue 8 (with a min balance) both of which I opened a few months ago I think. In the past they’d close and release issues all the time, but they don’t really seem to do that anymore. Based on this message, neither of the rates will increase on 22nd December. I 100% understand them not wanting to release high rate products for new customers over Christmas due to the onslaught it brings, but I think they should then close issues and release new issues so customers who have had the accounts for a while also benefit. Hopefully they increase those rates at some stage, but I know the LEI3 and quite a few other variable rate regular savers didn’t go up last time

sonaldo

probably crystal ball gazing... but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'? and if not, whether it's worth moving to Zopa?

ColdIron

Msrajjc2 said:

probably crystal ball gazing... but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'? and if not, whether it's worth moving to Zopa?

The eSaver hasn't been withdrawn but the rate has decreased from 2.75% to 1.50% so I would manage my expectations

https://www.santander.co.uk/personal/savings-and-investments/savings/esaver

SeriousHoax

Hopefully cynergy will increase interest rates over the next few days. 🙏 

Good on Zopa for the increase as I like there App.

mebu60

Frogletina said:

To keep under the £85,000 limit with Coventry BS, I might have to save for 5 months in the FHS account and then withdraw most of it and start again, or just save £500 a month due to having my money in a fixed rate isa with them. Decisions, decisions. 

I do have the regular saver too but that finishes on 6 January, and was thinking of renewing  that if available but the FHS would be better.

I have just opened the Coventry FHS instantaneously and a £1 test payment is on its way.

I have marginally under £85k in the Four Access Saver that will be 3.25% from 6 Jan so am thinking of being brave and stashing £1k pcm in the FHS until the interest payment on the 4AS late Sept then doing a withdrawal then from the 4AS to bring me back under FSCS limit.

Assuming Coventry rates remain competitive in the interim.

Thanks to those for identifying the ability to open the FHS without being a FHS. 

Mr._H_2

Msrajjc2 said:

probably crystal ball gazing... but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'? and if not, whether it's worth moving to Zopa?

Judging by past behaviour, one would not expect the Santander eSaver rate to increase. But as it's an easy access account there's no problem just keeping a quid in it just in case.

If you are clever with the Zopa notice pots, it's actually possible to earn slightly above their stated AER %. I'm wondering how many people do what I do and how long it's going to last though, as it can't have been their intended use case.

I-LOV-MONEY

ColdIron said:

The eSaver hasn't been withdrawn but the rate has decreased from 2.75% to 1.50% so I would manage my expectations

https://www.santander.co.uk/personal/savings-and-investments/savings/esaver

Thankfully not for existing savers - I just checked it is still 2.75% (phew!)

Bridlington1

Mr._H_2 said:

Msrajjc2 said:

probably crystal ball gazing... but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'? and if not, whether it's worth moving to Zopa?

Judging by past behaviour, one would not expect the Santander eSaver rate to increase. But as it's an easy access account there's no problem just keeping a quid in it just in case.

If you are clever with the Zopa notice pots, it's actually possible to earn slightly above their stated AER %. I'm wondering how many people do what I do and how long it's going to last though, as it can't have been their intended use case.

You don't even need to keep £1 in it. Mine's had a nil balance since late October.