The New Top Easy Access Savings Discussion Area

KevinG

friolento said:

Apologies if this has already been mentioned, it's a new one on me and I don't recall seeing it here. Sidekick easy access, funds held at Oaknorth, so full FSCS cover, 4.75% AER incl. 0.45% Sidekick bonus for 12 months on balances up to £35,000, unlimited next working day withdrawals.

Deposits can apparently also be made by DD, which could help those looking for extra DDs.

Sidekick is a nightmare, been there, done that, posted about it, avoid.

SnowMan

It has just been announced that Bank Base Rate has been reduced by 0.25% to 4.5% 

https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2025/february-2025

The MPC voted by a majority of 7–2 to reduce Bank Rate by 0.25 percentage points, to 4.5%. Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4.25%

Next decision 20th March 2025

soulsaver

Close Bros EA Iss5  4.70% £10k MinFR. unavailable again 06/02

happybagger

SnowMan said:

It has just been announced that Bank Base Rate has been reduced by 0.25% to 4.5% 

Clearly decided the task of getting inflation down 2% target is beyond them. Surprised UK Gov haven't "revised" the target tbh.

spreadsheeterapple

happybagger said:

Clearly decided the task of getting inflation down 2% target is beyond them. Surprised UK Gov haven't "revised" the target tbh.

2% inflation is the "low and slow" growth target for most if not all of the major 'developed' economies; that includes UK, EU, US, Japan. There has been some debate since pandemic of raising to 3%, e.g. the Federal Reserve Bank of America stated that more than a year ago, saying 3% may be considered "stable growth".
- but the UK are certainly not going to be first in announcing change, or go it alone; that would be economic suicide.

Best leave it there though, this conversation, else it might get political.

GalacticaActual

Yorkshire Building Society have just announced interest changes to their variable rate savings accounts from 11th March 2025, in relation to today's Bank of England Base Rate change.

They also have a PDF to view here: https://www.ybs.co.uk/documents/productdata/YBM1607RC.pdf

We’ll be reducing our rates on most of our savings accounts up to 0.25% on 11 March 2025.

Bobblehat

And they're off! In the lead In 2nd place with a 0.25% reduction is Oaknorth EA Iss 16 down to 3.25% AER 20/02/2025

ToastLady

Tandem EA down to 3.9% from 20th Feb, 4.15% with 0.25% top up.

explorerm

looks like CHIP have reduced the rate already on my Chip Easy Access Account from 4.75% to 4.49%! They seem to respond very fast to interest rate cuts, the same day ! Also happened with a ISA I had with Chip too! Will be emptying my account today !

pecunianonolet

explorerm said:

looks like CHIP have reduced the rate already on my Chip Easy Access Account from 4.75% to 4.49%! They seem to respond very fast to interest rate cuts, the same day ! Also happened with a ISA I had with Chip too! Will be emptying my account today !

It's a tracker account so they just do what they told you in the T&C you agreed to when you opened the account(s). Note, when you transfer out the ISA, should you wish to do so, you won't be able to open another ISA with them.