Chasing the best interest rate
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7% savings accounts......................only one mention of this rate in the posts on this subject but 3 are mentioned on MSE, First Direct, Skipton, and Co-Operative, any reason why these were not mentioned??0
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MissHap said:7% savings accounts......................only one mention of this rate in the posts on this subject but 3 are mentioned on MSE, First Direct, Skipton, and Co-Operative, any reason why these were not mentioned??
They are all Regular Saver accounts and are all mentioned in the RS thread
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Depends, I am on 5% for example would not switch for 5.1% but if i was on 2% will switch to 5.1%.0
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FeeCorner said:Should I be switching bank accounts for savings every year to chase the best interest rates for savings? It seems easy to do but ends up with having loads of accounts?1
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Bridlington1 said:malcolmw_3 said:Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p?
I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.
I've just done a quick calculation I'm just under half that.0 -
jameseonline said:Bridlington1 said:malcolmw_3 said:Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p?
I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.0 -
Bridlington1 said:jameseonline said:Bridlington1 said:malcolmw_3 said:Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p?
I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.1 -
Bridlington1 said:jameseonline said:Bridlington1 said:malcolmw_3 said:Ok one final attempt to clarify, it’s not the £37 (minus tax). In today’s email it’s made clear that the best interest rate gains 10p per £1000, my example is £3.70 per year. So where do you draw the line? From your position would you move for 10p?
I have more transactions on my accounts each month than I care to remember, one or two more won't hurt and I quite enjoy being a rate tart to be honest. So yes, I'd move my savings for another 10p and have done so in the past, all those 10ps soon add up but I appreciate it's not everyone's cup of tea.
But then not all of the accounts have anything in & some only have a £1 or so and that's just savings accounts 🤣
Oh wait I still have like £2 in the old Virgin Money system (before Clydesdale took over) so would that be 27 or still 26? 🤔😁0 -
So just wondering what you guys do when you have to provide bank statements for things like visa applications or mortgage applications when you have so many bank accounts?0
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FeeCorner said:Should I be switching bank accounts for savings every year to chase the best interest rates for savings? It seems easy to do but ends up with having loads of accounts?0
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