Spring Accelerate 5% instant saver

meat_n2_reg

Hi All

Looking around and found spring Accelerate saver @ 5% for up to 5k

Just looking for any thoughts from any one who's using Spring bank , hit or miss

Thanks Steve

janusd

as discussed in the main EA thread, Spring are fine - nice app, instant withdrawals and deposits, owned by Paragon… I have 3 accounts with them, with the full £5k in the accelerate saver.

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82107382#Comment_82107382

My experience is same as this one. All positive. Gives me friction-free access to the same rate as my Cahoot SDS

CRAIGSVILLE1

Signed up a few days ago. Great app + probably the fastest + least troublesome id checks I've experienced. Fast transfers. 5% for £5k - whats not to like 😃

poolboy

Another happy spring user here, just max out and forget, just checked 1st interest paid

DjangoUnchained

I've had it a couple of weeks, seems to work fine, i wasnt sure whether the max of £5k included added interest so i keep about £4800 so interet added doesnt take it over the £5k , although it seems it doesnt matter.

Growingold

Wish you could have pots within it though like their other saving account

Money_Stitch

https://forums.moneysavingexpert.com/discussion/comment/82144009#Comment_82144009

You can. It works exactly the same as the other Spring saver accounts, I have pots with the accelerate. Max 4, I believe.

The 5K max is the capital. No need to skim interest off or keep under 5K to account for interest.

Says on their website this account is only available until 30th Sept, so looks like it's about to be pulled.

n3ophyte

It’s not clear from the Spring Accelerate Saver terms & conditions whether the added interest that takes you over the £5000 max balance earns interest itself🤔

I’ll be skimming the interest off to stay at £5k

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82144573#Comment_82144573

"15. If you’ve reached your account maximum balance, or
your overall maximum balance, we’ll continue to pay
interest even if the interest payment takes you over
the maximum balance. You won’t have to withdraw any
money because of this."

True, they don't seem to explicitly say that they pay interest on the amounts over 5K, will have to wait and see what the monthly interest is now my account is over 5K.

ToastLady

https://www.spring-savings.co.uk/resources/accelerate-saver-product-terms-and-conditions.pdf