FirstSave 6.5% easy access, any experiences?

isofa

The Sunday Times mentioned them this week and said to be wary too...

Rafter

Although protected by the guarantee - I'm not sure the government would be as quick to step in to protect a Nigerian bank, or ICICI or ICEsave fo that matter.

You could therefore be waiting ages to get your money back (without interest) if anything did go wrong.

You also have to ask how well these banks are looking after your money. To pay 6% plus in interest they must be lending on some fairly high risk loans to get the return they need to offer such juicy rates.

Sometimes chasing the very best rate, even on supposedly safe savings accounts might not be so wise.

R.

tradetime

Maybe they lend your money out in Iceland, if you look at Icelandic central bank rates maybe that's how they afford to pay 6%.

http://www.sedlabanki.is/?PageID=287&NewsID=1630