Cynergy Issue 96 Available - 4.22%

Andy7856

Just a quick heads up to Cynergy customers. They have released Issue 96 paying 4.22% instant access. My bonus was approaching expiry so jumped across.

Shedman

Thanks…open it yesterday evening. .Could be useful as it's the same rate as the Issue 94 I already have but I can now close and transfer the balance from that one to the Issue 96 so that any interest for the remaining part of this tax year will now not be paid out until 27/28 (interest payable 13 April) which is handy for my tax planning. (Had me concerned yesterday evening as it did originally say "1st interest payable on 12 Jan 27" under Account Details dropdown on the App rather than the usual year ahead but seems to have resolved itself today).

soulsaver

Issue 97 available at 4.27%… see ToTP - link in signature box.

LHW99

Does Cynergy allow a transfer from elsewhere for opening the account? I couldn't see anything on the front page for Issue 97?

mebu60

https://forums.moneysavingexpert.com/discussion/comment/81963653#Comment_81963653

All deposits must come from your nominated account. If you have an existing Cynergy EA account you can 'transfer and close' that for the opening deposit into the new issue.

abxbsk

Account opened today 😊On the app it says next interest payment date 4th Jan 2027? I thought the interest was calculated daily and paid at the end of the 12 months. Any thoughts pls.

x44

Lots of people will be happy with this because the 2% surcharge on interest income starts on the 6 April 2027. So ideally you want interest paying in the first 3 months of next year to ensure it falls into the 2026/26 tax year avoid the surcharge in 2027/28

alanwsg

https://forums.moneysavingexpert.com/discussion/comment/81963937#Comment_81963937

Have you paid any money into it yet?

This date doesn't get updated until you make the first deposit as the interest gets paid on the anniversary of the first deposit, not when you open it.

mebu60

https://forums.moneysavingexpert.com/discussion/comment/81963937#Comment_81963937

I noticed that too (on website). Recent issues it has been at the 12 month point. With Cynergy you can never be sure what they say is what they'll do! (and I have several £100s of tax free compo as a result 😁). But I'd have no objection to the interest being crystallised 4 January and compounded three and a bit months earlier. Plus it would be taxed 2% less. So hoping it is the case. Payment of interest then does not preclude the bonus rate continuing to the 12 month anniversary.

abxbsk

https://forums.moneysavingexpert.com/discussion/comment/81964032#Comment_81964032

Its updated now - thanks!