The Top Easy Access Savings Discussion Area

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 but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'?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 but anyone got any idea whether Santander will increase the rate on its (now withdrawn) 'e-saver'?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The eSaver hasn't been withdrawn but the rate has decreased from 2.75% to 1.50% so I would manage my expectations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.

happybagger

"The eSaver hasn't been withdrawn but the rate has decreased from 2.75% to 1.50% so I would manage my expectations"

Of sorts.
The current issue on sale (issue 21) is offered at 1.5%
The previous "Limited Issue" (issue 1) paid 2.75 on issue and still does, Limited Issue 2 pays 2%

Issues before this vary around the 0.4 to 0.75 mark

source

Zerforax

Moved my money from Santander 2.75% to Zopa. Debating if I do the 7 day pot but there may be some more rate increases soon?