The New Top Easy Access Savings Discussion Area

[Deleted User]

I have the Cahoot simple saver which is still showing as earning 5%. Looks like I opened it Nov 2023.

Would anyone know if the 5% was a 12 month thing?

I'm not confused as such but with so many accounts you do lose track of the odd one!

allegro120

[Deleted User] said:

I have the Cahoot simple saver which is still showing as earning 5%. Looks like I opened it Nov 2023.

Would anyone know if the 5% was a 12 month thing?

I'm not confused as such but with so many accounts you do lose track of the odd one!

Yes, it is a 12 month thing.  After the term ends, they’ll transfer your money and interest into a Cahoot Savings Account. 

chris_the_bee

[Deleted User] said:

I have the Cahoot simple saver which is still showing as earning 5%. Looks like I opened it Nov 2023.

Would anyone know if the 5% was a 12 month thing?

I'm not confused as such but with so many accounts you do lose track of the odd one!

Cahoot
The term of the account is 12 months. On maturity, we’ll transfer your money into a cahoot Savings Account. We’ll get in touch with more details, closer to your maturity date. This will include your new interest rate.

ircE

Those in the market for trackers may like to check out Skipton BS' Base Rate Tracker Issue 6, offering (BR-0.35pp) for 12 months. Currently at 4.65% so not quite an absolute top rate but definitely a top true EA account.

[Deleted User]

Thanks all, I thought/hoped it was. 

Maxed out the other ones of mine so may use this more until Nov. Thanks again.

cricidmuslibale

ircE said:

Those in the market for trackers may like to check out Skipton BS' Base Rate Tracker Issue 6, offering (BR-0.35pp) for 12 months. Currently at 4.65% so not quite an absolute top rate but definitely a top true EA account.

Thank you very much for letting us know about this potentially very useful tracker account. Skipton have also just released a flexible, easy access tracker Cash ISA (Issue 6) offering Base Rate - 0.35% for 12 months, currently paying 4.65% annual interest, 4.55% monthly interest (4.65% AER). Please see Cash ISA Base Rate Tracker - Skipton Building Society for further details.

Bridlington1

ircE said:

Those in the market for trackers may like to check out Skipton BS' Base Rate Tracker Issue 6, offering (BR-0.35pp) for 12 months. Currently at 4.65% so not quite an absolute top rate but definitely a top true EA account.

One thing of note though is that this account only tracks the BOE base rate for 12 months, unlike their previous issue 5, which tracks 0.19% below the base rate for 24 months and was launched on 16/11/23.

Thus for those who still hold issue 5 from last year, issue 6 will never pay a higher rate of interest than it if you apply for it now.

Additionally for those who do open the account speculatively it's worth noting that the term doesn't begin until the date they receive the first deposit so it would probably be worth funding as late as possible to push the maturity date on a bit (you've 30 days to fund it before they cancel the account).

simonsmithsays

Penrith have launched a 4.71 variable with access 6 times a year

https://www.penrithbs.co.uk/savings/online-savings/

pecunianonolet

@soulsaver

Bridlington1

Just a reminder the Leeds BS interest rate reductions come into effect tomorrow. Of note:

LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 49) from 4.75% to 4.5%
LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 50) from 5.1% to 4.85%
LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 51) from 4.85% to 4.6%
LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 52) from 5% to 4.75%
LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 53, 54 & 55) from 5.1% to 4.85%
LIMITED ISSUE ONLINE ACCESS ACCOUNT (ISSUE 56, 57, 58, 59 & 60) from 4.85% to 4.6%