The New Top Easy Access Savings Discussion Area

flobbalobbalob

Oxbury:

Personal Easy Access Account (Issue 1)

We are writing to let you know that from 22/11/2024, your account's interest rate on balances above £1,000 will change from 4.34% Monthly Gross / 4.43% AER to 4.09% Monthly Gross / 4.17% AER.

Fuzzybucket89

Morning everyone.  This newbie to the forum is hoping to get some advice from you Easy Access experts.  I'm not much of a risk taker, so the savings I have has to date been in an NS&I Income Bond.  Like many of the providers it seems, NS&I have second guessed the BoE drop and have dropped my rate from 3.93% to 3.69%.  Not a huge issue, given I'm only talking £20k ish.  However, the boss and I have just sold our house and will be renting for 6 to 12 months, and therefore I need a safe home for what will be just under £500k.  The idea is to continue using an Easy Access Monthly Interest account, where the monthly interest will pretty much pay for the monthly rental.  Should I stay with NS&I (who I have never had a problem with) at the lower rate, or are there other secure providers offering a better deal?  Appreciate any advice.

KevinG

Sidekick Savings reducing from 4.89% AER to 4.58% AER from 23/11/2024.

gt94sss2

Fuzzybucket89 said:

Morning everyone.  This newbie to the forum is hoping to get some advice from you Easy Access experts.  I'm not much of a risk taker, so the savings I have has to date been in an NS&I Income Bond.  Like many of the providers it seems, NS&I have second guessed the BoE drop and have dropped my rate from 3.93% to 3.69%.  Not a huge issue, given I'm only talking £20k ish.  However, the boss and I have just sold our house and will be renting for 6 to 12 months, and therefore I need a safe home for what will be just under £500k.  The idea is to continue using an Easy Access Monthly Interest account, where the monthly interest will pretty much pay for the monthly rental.  Should I stay with NS&I (who I have never had a problem with) at the lower rate, or are there other secure providers offering a better deal?  Appreciate any advice.

Welcome to the forum.

You should start your own thread for your question. However, for the first 6 months following your house sale your money will be covered by

https://www.fscs.org.uk/making-a-claim/claims-process/temporary-high-balances/

Middle_of_the_Road

Fuzzybucket89 said:

Morning everyone.  This newbie to the forum is hoping to get some advice from you Easy Access experts.  I'm not much of a risk taker, so the savings I have has to date been in an NS&I Income Bond.  Like many of the providers it seems, NS&I have second guessed the BoE drop and have dropped my rate from 3.93% to 3.69%.  Not a huge issue, given I'm only talking £20k ish.  However, the boss and I have just sold our house and will be renting for 6 to 12 months, and therefore I need a safe home for what will be just under £500k.  The idea is to continue using an Easy Access Monthly Interest account, where the monthly interest will pretty much pay for the monthly rental.  Should I stay with NS&I (who I have never had a problem with) at the lower rate, or are there other secure providers offering a better deal?  Appreciate any advice.

https://www.chartersavingsbank.co.uk/products/noticeaccount/

Would pay you £2,062 pm (60 day notice)

https://uk.virginmoney.com/savings/products/defined_access_e_saver_issue_27/

Would pay you £1,841 pm

NS&I £1,537 pm

BreakingGlass

Fuzzybucket89 said:

However, the boss and I have just sold our house and will be renting for 6 to 12 months,

We did that three years ago.  Still renting ... 🙄

Fuzzybucket89

Thanks for the thoughts Middle_of_the_Road, I will check those options out.  I was hoping gt94sss2 that I would be covered by the temporary high balances clause.

EthicsGradient

@soulsaver what is the difference between these two entries on page 1 of the "no chat" thread:

2 Vanquis EA iss3 4.85% £1k min  (09/11)

3 Vanquis Bank easy access account (issue 3) 4.85% £1k min (07/10) 

apart from the date - did it go down then go back up to what it was before, or something?

DaveG247

Morning does trading 212 do savings as well as an ISA I see they've got a interest on cash option. I already have an ISA but thought it might be worth putting a bit in 212. Cheers 

masonic

DaveG247 said:

Morning does trading 212 do savings as well as an ISA I see they've got a interest on cash option. I already have an ISA but thought it might be worth putting a bit in 212. Cheers 

They offer access to money market funds within their Invest account if you are willing to take on the additional risk vs a standard savings account, but it's beyond the scope of this thread.