A&L Online saver

monki_man

Don't forget guys, tomorrow all A&L Online saver account holder should check their statement for any interest payment. Been waiting for this date for some time now, then im going to move all the interest money into my Northern rock account.

MrChips

I was about to do the same thing, until I got my email from Northern Rock re the rate decrease.

There is little point moving your interest across as the Northern Rock gross rate is now 5.01% vs A&L 5.00% (assuming you have the original issue A&L online saver and not the new issue) - and it is only 5.01% for the first 6 months of opening.

From what I can see, the best alternative (other than regular savings accounts which only allow you to drip feed the money in) from those open to new investment is Bradford and Bingley's e-savings account at 5.1%. I am ignoring ICICI for the time being until I hear that it is reliable!

I am assuming you have already used up your cash ISA allowance for this tax year, right? If not put it in First Direct's e-ISA at 5.5%

derrick

MrChips wrote:

I am assuming you have already used up your cash ISA allowance for this tax year, right? If not put it in First Direct's e-ISA at 5.5%

First Direct is fixed until 16th Feb 2006 then drops to 3.93% and has a limit of £10,000 see HERE

smudgie2

I am one of those awaiting the interest payment from A & L tomorrow 1/9/2005.
Am I correct in assuming that anything above the max of £25000.00 does not earn interest and therefore should be moved out ?

Stonk

Yes - anything over £25K will earn zero interest. Not even a measly rate like 0.1% - absolutely bog all.

Stonk

Interesting how A&L Online Saver (the closed issue that everyone was moaning about when it reduced its rate) is now looking actually quite good!

The only accounts that significantly beat it are ICICI (which has its own problems), and the now-closed AA account paying 5.21% (incl 12-month bonus, but for how much longer?) which luckily I have one of.

That B&B account is a good'un. I hope they hold their rate, given they dropped it recently from 5.25% not long before the BoE drop.

monki_man

Yay! Got the interest today, not bad, took £71 out of me for tax though

jo_b_2

That was quite a pleasant surprise.

Thanks for the reminder.

WaltD

MrChips wrote:

From what I can see, the best alternative (other than regular savings accounts which only allow you to drip feed the money in) from those open to new investment is Bradford and Bingley's e-savings account at 5.1%.

Not any more, it's not. :-( The B & B rate goes down to 4.85% with effect from 4 September 2005.

Stonk

Sorry guys. Every time I open my mouth about a good rate that I don't think will drop, it promptly drops the next day. I did exactly the same with ING at 5.00%, and next day they announced they were cutting to 4.75%.

I hereby announce that I will shut up about this kind of thing.