The New Top Easy Access Savings Discussion Area

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/81964144#Comment_81964144

4000 / 1.06 = £3,773.58. Or perhaps slightly more - that gets you to £4,000 after 12 months, and I suppose that if you're at or under £4,000 after 11 months, you'll still get the full interest on the anniversary, but not after that.

The monthly factor by which your savings are multiplied by is (1 + .0584/12) = 1.004867. £3,791.99 would end up as £4,000.00 after 11 months.

crumpet_man

https://forums.moneysavingexpert.com/discussion/comment/81964283#Comment_81964283

You said "have a second Edge Saver to which you transfer the monthly interest from the first £4k Edge Saver"

If the second Edge saver is already full you wouldn't do that. If the second Edge saver isn't full, you would split the funds between the two in order to avoid having to transfer the interest.

I acknowledge I am being pedantic.

p1ston

Of course @EthicsGradient is right. Divide by 1.06 because that's the aer. Sometimes I just don't think.

For the 4k x2 fullers.I suppose all is not lost, we could still achieve the full 6 AER by moving the interest to one of those regular savers at 7% aer monthly

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81964336#Comment_81964336

I acknowledge that I was being flippant, and said so in a later post.

Of course both Edge savers are full, they are earning whateveritis % more than anywhere else.

p1ston

How can we get hold of something like this

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81964242#Comment_81964242

If you have sole and joint accounts you can have 2 Edge Savers per person. We have 1 sole CA each and 1 joint, which allows 4 Edge Savers.

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/81964395#Comment_81964395

Are there other banks you can have multiple current accounts with (to obtain multiple savings accounts)?

I already have 3 Lloyds current accounts (from 15 years+ ago when they had good 4% interest rate)

I already have 2 Edge Savers

In a similar vein by accident this morning I opened a second Nationwide 1 Year Single Access Saver (I forgot I already had one) and it let me open and fund. Might be useful for some to extend the 1 Year rate, not amazingly great at 4.00% AER.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81964361#Comment_81964361

Yes, it depends on what you do with your monthly interest. I always ignore gross and go by AER, it's a more convenient method for comparing products.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81964392#Comment_81964392

These are not easy access accounts, so off topic for this thread.

For gilts, you need to look to Investment platforms like ii, HL, IG, AJ Bell etc

p1ston

https://forums.moneysavingexpert.com/discussion/comment/81964457#Comment_81964457

True. Except for full accounts that 6% is misleading. I was certain that I'm getting 6% on my full accounts until my son quoted me 5.84 . Then I investigated