Spring Accelerate 5% instant saver

friolento

but as soon as I’m £1 over in deposit over the £5000, that extra £1 stops earning interest

Your full balance, including anything over £5K, will earn the same interest (4.89% gross var, paid monthly)

We cannot add further money if our balance is already over £5k, or if our deposit would bring the balance to over £5k. The only addition to balances over £5k can be interest credited by Spring.

Example if you start with a £5,000 deposit today:

avocado1988

https://forums.moneysavingexpert.com/discussion/comment/82155737#Comment_82155737

Oh dear - sorry to hear that. Thanks so much for clarifying this! So it feels like it makes less sense to withdraw from here once a balance of £5000 (including interest to date) has been reached as e.g. if I have £5050 with interest in there to date, then after removing £50, I can't add any more

avocado1988

https://forums.moneysavingexpert.com/discussion/comment/82155764#Comment_82155764

Thank you for making this incredibly clear! Really appreciate this @friolento

dcs34

Yes I had the same issue, I'd withdrawn about half of my £5k to act as float whilst funding today's regular savers. Only able to pay back in the same amount less the interest it paid today which took the balance over £5k.

slinger2

https://forums.moneysavingexpert.com/discussion/comment/82155821#Comment_82155821

You should have replaced it on the 30th, before the interest was credited. Lost a few p.