The New Top Easy Access Savings Discussion Area

Purpleheart

Can someone recommend me an instant access savings account that pay interest yearly rather than monthly please, with the interest being on the anniversary of the account opening?

I'm finding accounts that have a decent interest rate but interest is paid either monthly or yearly but in this tax year. Currently using a combination of Nationwide triple access  and instant saver accounts but I am sure I can do better!

masonic

Purpleheart said:

Can someone recommend me an instant access savings account that pay interest yearly rather than monthly please, with the interest being on the anniversary of the account opening?

I'm finding accounts that have a decent interest rate but interest is paid either monthly or yearly but in this tax year. Currently using a combination of Nationwide triple access  and instant saver accounts but I am sure I can do better!

Do either of these suit?

savethepandas

Purpleheart said:

Can someone recommend me an instant access savings account that pay interest yearly rather than monthly please, with the interest being on the anniversary of the account opening?

I'm finding accounts that have a decent interest rate but interest is paid either monthly or yearly but in this tax year. Currently using a combination of Nationwide triple access  and instant saver accounts but I am sure I can do better!

Both my Paragon accounts pay annually with the interest paid on the anniversary of the account opening.

Don't know if they have anything suitable, as not sure of the Nationwide rates.

gwapenut

BigBlueSky said:

allegro120 said:

greenery said:

Would anyone be able to recommend me an instant access saving account to hold a few thousand?
I need the following:
Joint account
Easy to set up
Android app
Able to withdraw a few times per month

Cahoot Sunny Day is paying 5% on up to £3000, but there is no app, only online access. 

On a random telephone call the other day to Cahoot about something else I mentioned that I thought they were winding down their Cahoot brand over the last few years.  They mentioned that they were concentrating now on savings products and an app is in development.  This is call centre staff, so I'm not sure if that is necessarily the case.  They said it isn't right for an online only bank to not have an app - which I agree with, but they never bothered with one before now so not sure.

Surely it would be easy enough to rebrand the existing Santander app, the same way as they have done now with the website.

It might be even easier than you suggest. A few days ago I mistakenly logged into my Santander app with my cahoot credentials when setting up my new phone. The santander app shows my Cahoot account, and not my santander accounts. I have not dared transact with it yet.

poolboy

Vanquis easy access as above is good, I just opened the 60 day notice account at 5.05%.  I hope they don't become too uncompetitive and hold me to ransom for 60 days.  It's a 30 day funding window.

refluxer

poolboy said:

Vanquis easy access as above is good, I just opened the 60 day notice account at 5.05%.  I hope they don't become too uncompetitive and hold me to ransom for 60 days.  It's a 30 day funding window.

Just a quick note to say that notice accounts don't have funding windows (you can add money wherever you want, just like an easy access account) although there will usually be a deadline for meeting the minimum deposit criteria.

They will also either give the same amount of notice for a rate reduction (or higher) or will give you the opportunity to close your account without you having to give notice, so there is always an option to avoid a rate reduction.

If you have any questions about notice accounts, there's a dedicated thread for them here : https://forums.moneysavingexpert.com/discussion/6370428/notice-accounts

t1redmonkey

I'm not sure if it's a mistake from Vanquis, but I just got emailed by them today with regards to maturity options for a fixed term bond I have with them which is maturing soon, and noticed the interest rates they have for the Easy Access Issue 3 are lower than what they currently are.  Though when I went into the maturity options on my account to select this account, they were showing 4.85%/4.75% respectively.  So I'm thinking either a mistake on the email or they're about to reduce the rate and accidentally leaked it in their email for maturing bonds.  This is how it looks in the email:

wiseonesomeofthetime

t1redmonkey said:

I'm not sure if it's a mistake from Vanquis, but I just got emailed by them today with regards to maturity options for a fixed term bond I have with them which is maturing soon, and noticed the interest rates they have for the Easy Access Issue 3 are lower than what they currently are.  Though when I went into the maturity options on my account to select this account, they were showing 4.85%/4.75% respectively.  So I'm thinking either a mistake on the email or they're about to reduce the rate and accidentally leaked it in their email for maturing bonds.  This is how it looks in the email:

Hmm, yes, I see what you mean....

janusd

t1redmonkey said:

I'm not sure if it's a mistake from Vanquis, but I just got emailed by them today with regards to maturity options for a fixed term bond I have with them which is maturing soon, and noticed the interest rates they have for the Easy Access Issue 3 are lower than what they currently are.  Though when I went into the maturity options on my account to select this account, they were showing 4.85%/4.75% respectively.  So I'm thinking either a mistake on the email or they're about to reduce the rate and accidentally leaked it in their email for maturing bonds.

I assume the bond matures after the next BoE meeting in a fortnights time, so perhaps they're just anticipating a rate cut to occur after that ?

t1redmonkey

janusdesign said:

t1redmonkey said:

I'm not sure if it's a mistake from Vanquis, but I just got emailed by them today with regards to maturity options for a fixed term bond I have with them which is maturing soon, and noticed the interest rates they have for the Easy Access Issue 3 are lower than what they currently are.  Though when I went into the maturity options on my account to select this account, they were showing 4.85%/4.75% respectively.  So I'm thinking either a mistake on the email or they're about to reduce the rate and accidentally leaked it in their email for maturing bonds.

I assume the bond matures after the next BoE meeting in a fortnights time, so perhaps they're just anticipating a rate cut to occur after that ?

It matures just after that decision, yep.