The New Top Easy Access Savings Discussion Area

mebu60

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Look forward to receiving the same communication. As Santander is my main current account the EA is useful to park short term funds occasionally.

artyboy

Santander isn't exactly trumpeting that reduction, it's somewhat buried in a document that you have to go into online banking to read...

molerat

mebu60 said:

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Look forward to receiving the same communication. As Santander is my main current account the EA is useful to park short term funds occasionally.

Check your documents, no notification, it was just there !

Bobblehat

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Confusingly worded? (Edit: by Santander!)

I got the same pdf doc online and mine also matures on 04 Sept .. so does it change to an Everyday Saver at 1.2% ... or not? Then does it change back to an Easy Access Saver on 1st of Oct at 4% .... or does it stay as an EAS on 4th Sept and automatically get 4%. Or some other combination I haven't thought of yet .... 

What gets me is the "Good News" paragraph, which implies that the 4% doesn't start until 1st Oct ... so what happens between our 4th Sept Maturity date and 1st Oct? 

mebu60

molerat said:

mebu60 said:

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Look forward to receiving the same communication. As Santander is my main current account the EA is useful to park short term funds occasionally.

Check your documents, no notification, it was just there !

I've just received an email telling me it's in the documents. 

Santander presumably suffered a significant outflow when the 5.2% reduced to 4.2% but good to see they're making an attempt to hold some of what's left post September. 

allegro120

Bobblehat said:

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Confusingly worded? (Edit: by Santander!)

I got the same pdf doc online and mine also matures on 04 Sept .. so does it change to an Everyday Saver at 1.2% ... or not? Then does it change back to an Easy Access Saver on 1st of Oct at 4% .... or does it stay as an EAS on 4th Sept and automatically get 4%. Or some other combination I haven't thought of yet .... 

What gets me is the "Good News" paragraph, which implies that the 4% doesn't start until 1st Oct ... so what happens between our 4th Sept Maturity date and 1st Oct? 

Looks straight forward to me. The term is extended until 4th July 2025, the account won't turn into Everyday Saver until then. The interest will drop down to 4% on 1st October this year. You will receive 4.2% until 1st October and 4% thereafter. 

Bridlington1

@soulsaver
I appreciate it won't be eligible for a ranking but I think it's just about high enough for a mention. QIB have an EA account via Raisin at 4.9% (£1k min).

chris_the_bee

Can one close a Santander Edge Saver ahead of expiry and then open another new one. Thus extending the existing 6.78% interest rate for a further 12 months.

Bobblehat

allegro120 said:

Bobblehat said:

molerat said:

I know it is no longer a "top" account but Santander are extending the one year end date of the Limited Edition Easy Access Saver by 10 months. The interest rate will reduce by another 0.2% but not down to the  Everyday Saver level.

We’re extending the term of your Easy Access Saver by an extra 10 months with a new interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. You can still withdraw or add money in at any time.
You opened your Easy Access Saver Limited Edition (Issue 3) on 4 September 2023 which currently pays 4.20% AER / 4.12% gross (variable). It was due to mature to an Everyday Saver, with a rate of 1.20% AER (variable) after 12 months.
The good news is we’re giving you 10 months more in your Easy Access Saver which is more favourable, with an interest rate of 4.00% AER / 3.93% gross (variable) from 1 October 2024. This is currently our best instant access savings rate for balances up to £250,000. Remember that your account has a variable interest rate which means it can go up and down.

Confusingly worded? (Edit: by Santander!)

I got the same pdf doc online and mine also matures on 04 Sept .. so does it change to an Everyday Saver at 1.2% ... or not? Then does it change back to an Easy Access Saver on 1st of Oct at 4% .... or does it stay as an EAS on 4th Sept and automatically get 4%. Or some other combination I haven't thought of yet .... 

What gets me is the "Good News" paragraph, which implies that the 4% doesn't start until 1st Oct ... so what happens between our 4th Sept Maturity date and 1st Oct? 

Looks straight forward to me. The term is extended until 4th July 2025, the account won't turn into Everyday Saver until then. The interest will drop down to 4% on 1st October this year. You will receive 4.2% until 1st October and 4% thereafter. 

Thanks ... I hope you are right 

Bridlington1

chris_the_bee said:

Can one close a Santander Edge Saver ahead of expiry and then open another new one. Thus extending the existing 6.78% interest rate for a further 12 months.

Yes you can, I did that myself a couple of months back.