Newbury BS rate increases

etienneg

Band7 said:

I have a post code they accept, and have remnants of accounts, incl the EMA, with them. I have not been tempted for the last year to use my EMA allowance, or to open one of their other accounts as there are numerous alternatives, many with lots better rates, freely available to all. I have even move my accrued EMA balance to another bank last March. In other words, I don't think you are losing out if your post code excludes you.

EMA now pays 3.5% with easy access, subject to £4,000 per tax year deposit.

Could you please list examples of the "numerous alternatives, many with lots better rates, freely available to all" accounts?

Band7

etienneg said:

Band7 said:

I have a post code they accept, and have remnants of accounts, incl the EMA, with them. I have not been tempted for the last year to use my EMA allowance, or to open one of their other accounts as there are numerous alternatives, many with lots better rates, freely available to all. I have even move my accrued EMA balance to another bank last March. In other words, I don't think you are losing out if your post code excludes you.

EMA now pays 3.5% with easy access, subject to £4,000 per tax year deposit.

Could you please list examples of the "numerous alternatives, many with lots better rates, freely available to all" accounts?

Numerous Regular Savers, to start with. Very, very easy to stick £4k into 4%+ Regular Savers in no time. At least one flexible ISA. A 5% Rainy Day Saver. And so on. You could have done so quite a while ago, too, and back then there were 6-access accounts with 3.5%, too.

The Newbury EMA is also restricted to some extent, in as far as you cannot replace any withdrawn money without reducing your annual deposit allowance.

progressive_uk

https://www.newbury.co.uk/news-knowledge/news/bank-of-england-base-rate-change-11-may-2023/

Rates apply from 1 June 2023

Existing Member Account rising from 3.5% to 3.75% (max deposit = £4000 per tax year)

Welcome to Newbury Account rising from 3.3% to 3.55% (max balance = £3000 + accumulated interest)

Home Saver rising from 3.15% to 3.4% (despite the name its a Regular Saver without a condition on buying a house. Max contribution = £500 pcm)

allegro120

progressive_uk said:

https://www.newbury.co.uk/news-knowledge/news/bank-of-england-base-rate-change-11-may-2023/

Rates apply from 1 June 2023

Existing Member Account rising from 3.5% to 3.75% (max deposit = £4000 per tax year)

Welcome to Newbury Account rising from 3.3% to 3.55% (max balance = £3000 + accumulated interest)

Home Saver rising from 3.15% to 3.4% (despite the name its a Regular Saver without a condition on buying a house. Max contribution = £500 pcm)

I've got the "Welcome", keeping £50 there in case "Existing" will be competitive when I'm qualified.

progressive_uk

https://www.newbury.co.uk/news-knowledge/news/bank-of-england-base-rate-change-22-june-2023/

New rates apply from 14 July 2023

Existing Member Account rising from 3.75% to 4.1% (max deposit = £4000 per tax year)

Welcome to Newbury Account rising from 3.55% to 4% (max balance = £3000 + accumulated interest)

Home Saver rising from 3.4% to 4% (despite the name its a Regular Saver without a condition on buying a house. Max contribution = £500 pcm)

progressive_uk

https://www.newbury.co.uk/news-knowledge/news/bank-of-england-base-rate-change-3-august-2023/

New rates apply from 17 August 2023

Existing Member Account rising from 4.1% to 4.35%(max deposit = £4000 per tax year)

Welcome to Newbury Account rising from 4% to 4.25% (max balance = £3000 + accumulated interest)

Home Saver rising from 4% to 4.25% (despite the name its a Regular Saver without a condition on buying a house. Max contribution = £500 pcm)