Al Rayan Everyday Saver Issue 3 - Surprise !

The_Fat_Controller

BigBlueSky said:

Moneyfacts is now showing issue 3 as 2.12% - No mention on the Al Rayan website though or on the app.

If you go to further details on Moneyfacts that is the AER, I presume with monthly profit compounded,

The basic expected profit rate still shows as 2.1%

BigBlueSky

The_Fat_Controller said:

BigBlueSky said:

Moneyfacts is now showing issue 3 as 2.12% - No mention on the Al Rayan website though or on the app.

If you go to further details on Moneyfacts that is the AER, I presume with monthly profit compounded,

The basic expected profit rate still shows as 2.1%

Yes, but not sure why they have just updated from 2.10% to 2.12% this morning.

BigBlueSky

Looks like it has been changed back - Must have been a mistake.

masonic

Tristan92 said:

Hi All,

I have been researching opening up an account with Al Rayan, as I’ve very nearly reached my limit of my savings which are all currently sat in Premium Bonds with NS&I. Would you all recommend the Easy Saver account with Al Rayan? I don’t want my money sat in a Barclays ISA account which has a terrible interest rate…

First time I’ve been doing the move money around thing to ensure I’m getting the best return.

Thanks and apologies for the ‘newbie’ post.

Yes, it's a good rate and they've got a track record of keeping their variable accounts competitive for a reasonable length of time. I've used them for multiple accounts over the years.

The_Fat_Controller

@Tristan92 yes, thoroughly recommend their Everyday Saver.

The app and desktop access can be a little quirky to set up.

Withdrawals are limited to £20,000/day, only on working days and not always instant.

Bigwheels1111

Fastest way to set up the account is to apply first.
Then ring and ask for account number.
Open the app and select second option, account number.
Took 2 minutes.
If you needed more than 20k a day go with gatehouse bank.
Dont save more than £84800 as with a months interest keeps it below 85k FSCS protection.