£25 bonus for HL active savings account - expires 06/12/2019

ColdIron

d63 wrote: »

ok, dumb question, but supposing i were to use this active account to open, say, that 6 month charter a/c as mentioned above, would that mean if i then log in to my already existing charter bank saving account would i then be able to see this new account there alongside my old one? (or indeed be able see my old account in the HL active a/c?)

No and no

umm, i suppose what i am trying to get at here is it like this open banking business where one can see all ones bank accounts from different providers all in one app?

Another no I'm afraid

house_help

Thanks for head up just opened up and awaiting my £25 bonus.

gozaimasu

I reckon if we put £5k in premium bonds we'd see a better return than £25. Not what the calculator shows, but I've put in less than that and still ended up with £25 within a couple of months. What the calculator would call "better than average luck".

house_help

£25 is the bonus on top of the interest.



I will put the £5K in the 1.57% Charter Bank 6 month notice account so total interest in 6 months of £78.5 + £25 = £103.5 or 2.1% for the 6 months.

triplea35

house_help wrote: »

I will put the £5K in the 1.57% Charter Bank 6 month notice account so total interest in 6 months of £78.5 + £25 = £103.5 or 2.1% for the 6 months.

Not quite, 1.57% is the APR but as the £5k is only for a 6 month term you will earn £39.25 in interest. The £25 bonus is .5% of the £5k but as only required to tie it up for 6 months you are getting the equivalent of 1% APR.

So for the 6 months you are earning in effect 2.57% APR but will only earn £64.25p

eskbanker

triplea35 wrote: »

Not quite, 1.57% is the APR....

Not quite, 1.57% is the AER!

APRs are used for borrowing, whereas AER is used for saving, although the compounding maths is similar....

eskbanker

gozaimasu wrote: »

I reckon if we put £5k in premium bonds we'd see a better return than £25. Not what the calculator shows, but I've put in less than that and still ended up with £25 within a couple of months. What the calculator would call "better than average luck".

Interesting bravado - you were lucky before so you expect that to continue! Hope you don't take that approach to the bookies....

house_help

triplea35 wrote: »

Not quite, 1.57% is the APR but as the £5k is only for a 6 month term you will earn £39.25 in interest. The £25 bonus is .5% of the £5k but as only required to tie it up for 6 months you are getting the equivalent of 1% APR.

So for the 6 months you are earning in effect 2.57% APR but will only earn £64.25p

Good Point! I thought it seemed to much. I blame sleep deprivation from being up all night with a teething 1 year old for getting wrong.

gozaimasu

eskbanker wrote: »

Interesting bravado - you were lucky before so you expect that to continue! Hope you don't take that approach to the bookies....

What can I say, I'm just a dreamer. Dreaming of what I'd do with £1million from PBs gives me more joy than dreaming of what I'll do with £64.25 in 6 months.

colsten

It's taking what seems like an eternity for my deposit actually to be earning interest. It's still showing as pending a week after I put the money into HL. Not very impressive. I seem to remember Raisin was much faster with actually depositing the money with the chosen provider.

EDIT: My money is now invested, exactly 1 week after I paid it into HL by debit card, and 4 working days after it got debited from my current account. It is obvs not a huge loss in interest but a real PITA to have to check back again and again to be sure the money has gone into the right account.