Barclays rainy day saver - £5k limit 1 March at 10:55AM in Savings & investments 2 replies 211 views

aoleks

morning all,

I have a barclays rainy day saver account, pays 5%+, don't remember the exact figure. there's a £5k limit to it, anything above that pays peanuts, 0.5% or something like that.

I transferred £5k and they already paid some interest. am I right in thinking that I should take everything above £5k and move it to another savings account paying more interest? in other words, the interest I make on the initial £5k won't generate interest at 5%, right?

thanks

jaypers

Spot on. That’s what I do. 

aoleks

perfect, thanks!