The New Top Easy Access Savings Discussion Area

gesdt50

After more research they won't give any interest even if you reduce back to 3,000, Thanks

flaneurs_lobster

gesdt50 said:

After more research they won't give any interest even if you reduce back to 3,000, Thanks

The Cahoot Sunny Day Saver? Where are you doing your "research"? 

It's a "tiered" interest product, £1-3000 pays 5%, anything above £3k earns 0%.

Actually, mine's an issue 1 paying 5.08% - has a reduction been announced for this one?

Mr._H_2

gesdt50 said:

After more research they won't give any interest even if you reduce back to 3,000, Thanks

That’s not correct. It’s just the way their interest indicator works is very unhelpful. It only updates once every 24 hours. If, when the update occurs, your balance is over £3k, the interest rate will show as 0% (even though you are still getting 5% on the first £3k and nothing only on the balance above that). If, when the update occurs, your balance is below £3k, the interest rate will show as 5%.

The TL;DR: bring your balance down to £3k or less, wait 24 hours, and the interest will show as 5% again.

flaneurs_lobster

Mr._H_2 said:

gesdt50 said:

After more research they won't give any interest even if you reduce back to 3,000, Thanks

That’s not correct. It’s just the way their interest indicator works is very unhelpful. It only updates once every 24 hours. If, when the update occurs, your balance is over £3k, the interest rate will show as 0% (even though you are still getting 5% on the first £3k and nothing only on the balance above that). If, when the update occurs, your balance is below £3k, the interest rate will show as 5%.

The TL;DR: bring your balance down to £3k or less, wait 24 hours, and the interest will show as 5% again.

This - there's a tip when you hover over the interest rate field on the website:

Your interest rate may show as 0% for balances higher than the limit on your account.

Please refer to your Key Facts Document for more information.

k12479

flaneurs_lobster said:

Actually, mine's an issue 1 paying 5.08% - has a reduction been announced for this one?

18th November, 4.89% gross, 5.00% AER to match the Issue 2, according to my notes.

RosieRooBear

k12479 said:

flaneurs_lobster said:

Actually, mine's an issue 1 paying 5.08% - has a reduction been announced for this one?

18th November, 4.89% gross, 5.00% AER to match the Issue 2, according to my notes.

Cahoot Simple Saver Issue 1 - 5.12% (5.08% monthly), no notification, no change
Cahoot Sunny Day Saver Issue 1 (max balance for interest £3000) - 5.2% AER reducing to 5% AER on 18th November 

allegro120

flaneurs_lobster said:

gesdt50 said:

After more research they won't give any interest even if you reduce back to 3,000, Thanks

The Cahoot Sunny Day Saver? Where are you doing your "research"? 

It's a "tiered" interest product, £1-3000 pays 5%, anything above £3k earns 0%.

Actually, mine's an issue 1 paying 5.08% - has a reduction been announced for this one?

No reduction announcements yet, but "The term of the account is 12 months. After the term ends, we’ll transfer your money and interest into a cahoot Savings Account."

SaveTheEuro

A sharp drop at Beehive (Nottingham Building Society), from 4.95% to 4.5%.


The interest rate payable on your Limited Issue Easy Access 4 will decrease to 4.50% gross p.a. from 28th November 2024. This includes a bonus of 2.47% until 31/3/2025. The interest rate without bonus will decrease to 2.03%.

mebu60

SaveTheEuro said:

A sharp drop at Beehive (Nottingham Building Society), from 4.95% to 4.5%.


The interest rate payable on your Limited Issue Easy Access 4 will decrease to 4.50% gross p.a. from 28th November 2024. This includes a bonus of 2.47% until 31/3/2025. The interest rate without bonus will decrease to 2.03%.

That'll be to pay for the hideous new branch makeovers. 

exel1966

Cynergy 69

3.70 ↓ 3.45  02 Dec  + 1.10 if you have the fixed bonus.