The New Top Easy Access Savings Discussion Area

gpman

https://forums.moneysavingexpert.com/discussion/comment/82071842#Comment_82071842

I'd just like to clarify, and I don't know if the offer has changed or whether you accidentally muddled up the details, but today the bonus is shown as 3.41% fixed. i.e. the account pays 0.9% interest after 12m.

As you say, there is a monthly interest option. The interest rate is 4,22% gross incl. a 3,33% fixed bonus for 12m. Interest rate after 12m is 0.89% gross.. AER is the same as for annual interest.

The underlying rate is variable, but the bonus is fixed for 12m whether you opt for monthly or annual interest.

Thanks for posting - account opened 😊 (diarised for closure in 12m)

@soulsaver

janusd

https://forums.moneysavingexpert.com/discussion/comment/82072287#Comment_82072287

thanks for the clarification - I think I only looked at the monthly interest option when posting (as I always choose monthly if its an option).

@soulsaver - Plum Easy Access Account (Basic) - 4.52% AER (include 1.40% bonus for 6 months) - £1 → £20k get's 4.52%, 3% on £20,001+ - Monthly Interest…

the boosted rate is only available to new Plum customers.

this might be one for a DYOR because there seems to be 4 accounts, based on your Plum subscription level, that all have slightly different bonuses (though all are 4.52%), it's just what happens to the rate after the bonus is dependent on your Plum level.

gpman

I'm wondering if soulsaver should give consideration to a special category for accounts with short term bonuses (say < 12m)

Else where will the line be drawn? What if a little known challenger bank decides to come up with an Easy Access account that pays 10% pa which includes a 9.99% bonus for 24 hours just to get a permanent place at the top of the leader tables?

ToastLady

@gpman 😅

I tend to bypass short term offers, might take a 6 month at a push, but don't think I have so far.

soulsaver

https://forums.moneysavingexpert.com/discussion/comment/82072411#Comment_82072411

Thanks. Agreed Plum will get a 'DYOR'.

And for newbies only. And £20k max for the rate - so I'll likely post it in Smaller Balances.

Going forward, I think if it's a relatively compelling offer I'd rank it, but it'd get discussed here. This doesn't fall into that cat. for me.

happybagger

https://forums.moneysavingexpert.com/discussion/comment/82072225#Comment_82072225

Failed for me. I don't have NatWest current account but do have a NatWest credit card. Appears this in the background was insufficient to pass their savings AI stuff. No camera phone so application aborted.

flobbalobbalob

I just applied for the Saga 4.5%

I think my dislexia made me select £1500 income by mistake. I think I also selected America as my tax country and while I was trying to flatten out my passport the phone took a picture and accepted it for consideration. So I think they got a photo of my kneecap.

ill have to wait the full 72 hours while they sort that lot out . 😂

fuzzzzy

https://forums.moneysavingexpert.com/discussion/comment/82072555#Comment_82072555

Same for me. Although I have no NatWest or Saga connections I thought it was worth a go. Aborted when they did ask for ID as although I have a smartphone I have no photo ID. It did give me 30 days to finish the application.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82072555#Comment_82072555

Saga

I've been able to apply without any of the ID nonsense. Never been a Saga customer, but have existing NatWest savings accounts.

As a precaution I enabled tracking, then logged in to my NatWest account, logged out, then started the Saga application process. No idea if it made any difference but I thought there may be an advantage if NatWest were to make some kind of linkage between my Natwest profile/accounts and the Saga application.

RunsFromRobots

Saga

I opened an account with no ID checks required. The whole process probably took less than five minutes to the point of being able to fund the account.

I suspect it's because I hold accounts with NatWest, RBS and Ulster(?)

My mum was able to open an account too and that's possibly because she used to invest with Saga back in the day.