The New Top Easy Access Savings Discussion Area

KevinG

pazza2000 said:

friolento said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Your savings interest outside ISAs is taxable income, regardless of whether you need to submit a self assessment. Savings providers report interest earned to HMRC after the end of each tax year. You can be pro-active and report your interest yourself in your personal tax account, or wait for HMRC to catch up with you. Rules for savings interest taxation are on the HMRC website pages.

Ah so savings and investment providers report to HMRC, so if interest is £10k I would need to self assess (report), and when I have other earnings I’ll certainly need to self assess regardless?

Yes. In my experience the interest isn't all reported by the banks, only some of it.

allegro120

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

pazza2000

allegro120 said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

Yes might as well keep £3k there. Is there a time of day I should move monies across so as I don’t lose a days interest?

allegro120

pazza2000 said:

allegro120 said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

Yes might as well keep £3k there. Is there a time of day I should move monies across so as I don’t lose a days interest?

Any time.  It's a normal 24/7 account, you won't loose any interest.

Bridlington1

pazza2000 said:

allegro120 said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

Yes might as well keep £3k there. Is there a time of day I should move monies across so as I don’t lose a days interest?

Off the top of my head the cut off is somewhere between 8-9pm.

allegro120

Bridlington1 said:

pazza2000 said:

allegro120 said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

Yes might as well keep £3k there. Is there a time of day I should move monies across so as I don’t lose a days interest?

Off the top of my head the cut off is somewhere between 8-9pm.

I didn't know this, thanks for correcting.  I might have lost some pennies without realising it , probably not much because I normally do all major transactions in the morning.  I've just checked, it's true.  After 8pm transactions will go through, but the interest will be calculated from the following day.  Is it the same for Santander?

Bridlington1

allegro120 said:

Bridlington1 said:

pazza2000 said:

allegro120 said:

pazza2000 said:

Ok, glad I checked here first. Will leave Chase very much as is and stick what I can in Atom at 4.75%, or should I look to a low-med risk investment, new to is but I don’t need instant access and with interest rates falling maybe now is the time to consider?

Off topic, I don’t have any other income right now having recently returned to the UK, until my income situation changes, I don’t need to self assess or declare interest unless it is over £10k pa?

Should maybe de my savings total pretty much the max amount I can deposit with Atom for the 4.75% rate.

Also Cahoot is still offering Sunny Day https://www.cahoot.com/products-and-services/cahoot-sunny-day-saver paying 5%.  Only for £3k, but every little helps.  You can have two of them, one sole and one joint.

Yes might as well keep £3k there. Is there a time of day I should move monies across so as I don’t lose a days interest?

Off the top of my head the cut off is somewhere between 8-9pm.

I didn't know this, thanks for correcting.  I might have lost some pennies without realising it , probably not much because I normally do all major transactions in the morning.  I've just checked, it's true.  After 8pm transactions will go through, but the interest will be calculated from the following day.  Is it the same for Santander?

It's the same for Santander. Depending on the bank/building society withdrawals can take till later in the day to arrive in a nominated account so I'll sometimes withdraw from an account in the morning, then be at work during the day so send funds through to Cahoot about 6-7pm.

Bridlington1

@soulsaver

Kent RBS Iss83 4.41% appears to have gone NLA.

Replaced by their Easy Access Savings Account Issue 1 at the same rate.

janusd

Bridlington1 said:

@soulsaver

Kent RBS Iss83 4.41% appears to have gone NLA.

Replaced by their Easy Access Savings Account Issue 1 at the same rate.

it's worth adding that the minimum balance to get 4.41% is now £1 rather than the £1,000 that the previous issues required. 

MichaelAP

Atom Instant Saver Reward ~ Rate reduction received. Information in the App only at the moment.
Date of change 31 July 2025

Current Rates are 4.75% AER / 4.66% Gross
New Rates are 4.60%AER / 4.51% Gross

Withdrawal Rates remain at 2.50% AER / 2.47% Gross