The New Top Easy Access Savings Discussion Area

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.

gesdt50

masonic said:

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.

Problem is the have tabs at lead you into Invest which is hard to know where there leading as I don't want them to start pulling money from the ISA, they don't have product summary boxes beforehand.
Anyone know if one can check out the product & after that stage click a button that allows product application to begin in the full knowledge?