The New Top Easy Access Savings Discussion Area

WoodwardM

PS: Interest rate is both Gross & AER. Check it out at https:// www.ulsterbank.co.uk/savings/easy-access-account.html (I'm not allowed to post links!)

BlackthornU

WoodwardM said:

PS: Interest rate is both Gross & AER. Check it out at https:// www.ulsterbank.co.uk/savings/easy-access-account.html (I'm not allowed to post links!)

I suspect the Ulster Loyalty Saver isn't listed due to having to open a Ulster current account to open the savings account.  You used to be able to just open the savings account on its own.

BlackthornU

jaypers said:

Bridlington1 said:

@soulsaver
NuWealth GB Bank Easy Access Account 4.4% (£500 min).

A 12 month 0.46% boost is available for balances of up to £20k, taking the overall rate to 4.86%.

Any idea whether inward and outward payments are immediate or next day etc? Also, do they use COP? TIA.

You have to withdraw via NuWealth - next day. Don't know if you lose a days interest.
The small print on the boost - (will want to time any closure to get the boost)
GB Bank Easy Access Accounts may be eligible to receive a rewarded boost and earn a reward equivalent to 0.46% (variable). The rewarded boost is applied on the first £20,000 held within a GB Bank Easy Access account, any balance above this amount will earn interest at the standard GB Bank Easy Access rate. The rewarded boost is paid monthly and applies for 12 months from the date the account is created. After this period, your interest will revert to the standard GB Bank Easy Access rate. Rewarded boost is not included in your annual savings allowance and may need to be declared in your tax return. In the event you choose to close your GB Bank Easy Access account or permanently leave NuWealth during the rewarded boost eligibility period, any unsettled rewarded boost payments will be lost.

soulsaver

WoodwardM said:

ULSTER LOYALTY SAVER should be listed by Martin in top Easy Access Savings (for some weeks now). 
Even though it reduced its rate to 4.75% in mid October for >=£5000, it is still BETTER than Chetwood, Close & Principality that are listed as top buys.  

Pluses: (1) Good interest rate. (2) Instantaneous transfer/access to UNLIMITED withdrawals.  (3) Money in & out shows instantaneously / within a minute.  (4) Good "buffer savings account" as you can access your base £5000 in emergencies (but you'll lose the higher rate until you replenish)
Minuses: (1) Only worth considering for £5000+, as rate for less is only 2%.  (2) both of these rates will reduce by 0.25% on 20/01/25, but other top earners may do the same within this timeframe too.

Come on Martin-team - give it a mention: I only discovered it as you has as a best-buy some months/years ago!

Ulster reduces to 4.50% from 20/01/2025 - see ToTP : Click on link in my signature box: Ulster was listed as top EA for months..

Middle_of_the_Road

WoodwardM said:

PS: Interest rate is both Gross & AER. Check it out at https:// www.ulsterbank.co.uk/savings/easy-access-account.html (I'm not allowed to post links!)

The rate will be reduced to 4.5% on the 20th January.

refluxer

WoodwardM said:

ULSTER LOYALTY SAVER should be listed by Martin in top Easy Access Savings (for some weeks now). 
Even though it reduced its rate to 4.75% in mid October for >=£5000, it is still BETTER than Chetwood, Close & Principality that are listed as top buys.  

Pluses: (1) Good interest rate. (2) Instantaneous transfer/access to UNLIMITED withdrawals.  (3) Money in & out shows instantaneously / within a minute.  (4) Good "buffer savings account" as you can access your base £5000 in emergencies (but you'll lose the higher rate until you replenish)
Minuses: (1) Only worth considering for £5000+, as rate for less is only 2%.  (2) both of these rates will reduce by 0.25% on 20/01/25, but other top earners may do the same within this timeframe too.

Come on Martin-team - give it a mention: I only discovered it as you has as a best-buy some months/years ago!

As mentioned above, the other big minus is that you have to have a current account with Ulster Bank in order to get that account. This technically makes it an 'exclusive' account I guess and may be the reason why it's not on the list. 

Personally, I only tend to open new current accounts when a bank has a bit more to offer, such as a switching bonus, cashback on purchases or direct debits or access to other types of savings accounts with high rates. As far as I can see, Ulster don't offer any of these extra incentives and their range of savings accounts is actually very small (limited to just that account, a cash ISA and children's accounts). I think I still had other easy access accounts paying >5% when it first launched so didn't really have a need for another one, although I can see why it would have been attractive to others as it was the highest-paying easy access account for quite a while.

I agree that it is odd that it doesn't even get a special mention at the moment, especially when you consider that Atom is at the top of that list (if you discount the ISAs) and that top rate is only achievable if you don't make any withdrawals, which is a pretty major negative aspect of an easy access account !

ircE

True EA accounts are easy access savings accounts which can be opened, and the headline rate earned, from a balance of just £1, and allow unlimited deposits and withdrawals. This table excludes accounts limited to smaller balances, paid-for/premium accounts and savings marketplaces. True Instant EA accounts are True EA accounts which advertise immediate deposit and withdrawal times 24/7. Red highlights are accounts whose interest rate has lowered, green highlights those which have been raised, and blue highlights are those which are new to the respective table.

Some surprise moves since last time, leading to mean top rates actually being higher than last month's.

Next MPC meeting next Thursday 19th.

Cobbler_tone

ircE said:

True EA accounts are easy access savings accounts which can be opened, and the headline rate earned, from a balance of just £1, and allow unlimited deposits and withdrawals. This table excludes accounts limited to smaller balances, paid-for/premium accounts and savings marketplaces. True Instant EA accounts are True EA accounts which advertise immediate deposit and withdrawal times 24/7. Red highlights are accounts whose interest rate has lowered, green highlights those which have been raised, and blue highlights are those which are new to the respective table.

Some surprise moves since last time, leading to mean top rates actually being higher than last month's.

Next MPC meeting next Thursday 19th.

Where is the 4.75% for Chase coming from? I'm a first issue member since the off. The best they have is a 4.5% boost, that ends mid-Jan 2025. I don't like to miss a trick!

janusdesign

Cobbler_tone said:

ircE said:

True EA accounts are easy access savings accounts which can be opened, and the headline rate earned, from a balance of just £1, and allow unlimited deposits and withdrawals. This table excludes accounts limited to smaller balances, paid-for/premium accounts and savings marketplaces. True Instant EA accounts are True EA accounts which advertise immediate deposit and withdrawal times 24/7. Red highlights are accounts whose interest rate has lowered, green highlights those which have been raised, and blue highlights are those which are new to the respective table.

Some surprise moves since last time, leading to mean top rates actually being higher than last month's.

Next MPC meeting next Thursday 19th.

Where is the 4.75% for Chase coming from? I'm a first issue member since the off. The best they have is a 4.5% boost, that ends mid-Jan 2025. I don't like to miss a trick!

https://www.chase.co.uk/gb/en/saver-boosted/

it's for new customers only.

flaneurs_lobster

janusdesign said:

Cobbler_tone said:

ircE said:

True EA accounts are easy access savings accounts which can be opened, and the headline rate earned, from a balance of just £1, and allow unlimited deposits and withdrawals. This table excludes accounts limited to smaller balances, paid-for/premium accounts and savings marketplaces. True Instant EA accounts are True EA accounts which advertise immediate deposit and withdrawal times 24/7. Red highlights are accounts whose interest rate has lowered, green highlights those which have been raised, and blue highlights are those which are new to the respective table.

Some surprise moves since last time, leading to mean top rates actually being higher than last month's.

Next MPC meeting next Thursday 19th.

Where is the 4.75% for Chase coming from? I'm a first issue member since the off. The best they have is a 4.5% boost, that ends mid-Jan 2025. I don't like to miss a trick!

https://www.chase.co.uk/gb/en/saver-boosted/

it's for new customers only.

...and the close it down/reopen trick doesn't work anymore