Savings rates getting competitive?

[airbus330]

Best Cash ISA 1yr Fix i have found is Kent Reliance at 4.14%. I already have an account with them and they are Ok. https://www.kentreliance.co.uk/isas

4.3% at Secure Trust Bank:

https://www.securetrustbank.com/savings ... e-cash-isa

Good spot

Unfortunately I need an account that pays monthly interest out to a bank account which narrows the options a bit.

[6Tricia]

Charter Savings Bank is currently offering a 1 year fixed rate ISA at 4.25%, 2 years at 4.35%.

Tricia

[staffordian]

Is the Atom bank 4.8% available as an ISA? It doesn't say on their website

Good question. As far as I can see, Atom don't offer any ISAs. Or if they do, they hide them well

[stevensfo]

Just for Info, my AJBell Savings Hub now has a 2-yr savings account offered via Investec at 4.7%.

https://www.ajbell.co.uk/cash-savings#list


Steve

Just gone up to 4.8%!

Steve

2-yr savings account offered via Investec now up to 4.91%
1-yr savings account 4.6% (Bank of Egypt), 4.5% (Paragon & Tandem banks).

Put into perspective: RPI 13.5%, CPI 10.1%.

So you may only be losing c.6% in real terms.

For £1000, that's £60 you're losing in spending power.

I tried to convince my wife that I can hedge against these losses by purchasing large amounts of malt whisky this weekend. She was not impressed.

We are both academics and look at things logically, but she can shout louder than me, so won the argument.

Steve



Steve

[gnawsome]

I tried to convince my wife that I can hedge against these losses by purchasing large amounts of malt whisky this weekend. She was not impressed.
Steve

I'm in your corner!
Remembering back to a Chancellor who announced that he would increase the duty on whisky by 50p (I think from £3.09 to £3.59 c1977) I bought 3 doz bottles.
I can't rember a time I ever regretted buying in advance of a budget or an obvious price rise.

[Steveam]

Marcus are now offering 3.5% (including bonus) instant access.

Best wishes,

Steve

[swill453]

I have to say I'm impressed with my savings account with Kent Reliance. They've just told me they're increasing the interest rate to 3.75%, and have generally been pretty good at increasing shortly after BoE increases.

This is an edition that's not available to new customers, so it's not like they're doing it just to tout for business.

I think the currently available edition pays slightly less.

Scott.

[stevensfo]

stevensfo wrote:
Just for Info, my AJBell Savings Hub now has a 2-yr savings account offered via Investec at 4.7%.

https://www.ajbell.co.uk/cash-savings#list
Steve

Just gone up to 4.8%!

Steve

2-yr savings account offered via Investec now up to 4.91%
1-yr savings account 4.6% (Bank of Egypt), 4.5% (Paragon & Tandem banks).

2-yr savings account offered via Investec now up to 4.95%
1-yr savings account offered via Paragon now up to 4.75%

Steve

[stevensfo]

stevensfo wrote:
Just for Info, my AJBell Savings Hub now has a 2-yr savings account offered via Investec at 4.7%.

https://www.ajbell.co.uk/cash-savings#list
Steve

Just gone up to 4.8%!

Steve

2-yr savings account offered via Investec now up to 4.91%
1-yr savings account 4.6% (Bank of Egypt), 4.5% (Paragon & Tandem banks).

2-yr savings account offered via Investec now up to 4.95%
1-yr savings account offered via Paragon now up to 4.75%

Steve

2-yr savings account offered via Investec now up to 5.15%
1-yr savings account offered via Paragon still at 4.75%

[Arborbridge]

Looking around at the weekend, it still seems that savings rates are pathetic if you need access to your money.

I'm haven't seen anything worth the bother of ditching my near 0% and going through the aggro of starting again - well, at least there are options giving 1 or 2% but it's something I'll get round to changing one day when there's nothing more exciting to fill my time.

Arb.

[simoan]

Looking around at the weekend, it still seems that savings rates are pathetic if you need access to your money.

I'm haven't seen anything worth the bother of ditching my near 0% and going through the aggro of starting again - well, at least there are options giving 1 or 2% but it's something I'll get round to changing one day when there's nothing more exciting to fill my time.

Arb.

Well, only two weeks ago I switched to an easy access account paying 3.3% with Paragon. I’m using HL Active Savings to switch money around. It’s very convenient and works well, so takes very little of my time.

[staffordian]

Looking around at the weekend, it still seems that savings rates are pathetic if you need access to your money.

I'm haven't seen anything worth the bother of ditching my near 0% and going through the aggro of starting again - well, at least there are options giving 1 or 2% but it's something I'll get round to changing one day when there's nothing more exciting to fill my time.

Arb.

I've not checked if anything similar is available to new customers, but I am amazed at how competitive my Co-op Bank savings account is. I have a 'Current Account Plus' which is a no fee current account, and with it comes a linked 'Savings Plus' account. For years it's interest rate languished well below 0.05% but it started being competitive a year or so ago and is currently 3.75%. Not bad IMHO for an instant access account.

[Newroad]

Hi Arb.

I think similarly.

We push £1K emergency money monthly into NS&I (paying 2.85% currently, IIRC). Can't see much reason to move it around to chase a slightly higher rate.

Regards, Newroad

[Arborbridge]

Hi Arb.

I think similarly.

We push £1K emergency money monthly into NS&I (paying 2.85% currently, IIRC). Can't see much reason to move it around to chase a slightly higher rate.

Regards, Newroad

Not thought of NS and I. Is that easy to operate for ad hoc withdrawals, or are you using it more or less for dumping cash which doesn't come out in a hurry?

Arb.

[Arborbridge]

Going to Martin Lewis's site, exlucding app only accounts, the first one you come to is Sainsburys. They offer 3.6% but only three withdrawals a year. Tesco slightly less but that's with a 12 month bonus. There's really nothing in the list which offers a half decent rate, allows withdrawals or isn't tied up in some way.

Furthger down the list is gets worse. I don;t want to open or change my current account either. just to obtain a few pounts interest a year.

[Arborbridge]

Well, only two weeks ago I switched to an easy access account paying 3.3% with Paragon. I’m using HL Active Savings to switch money around. It’s very convenient and works well, so takes very little of my time.

Never heard of HL Active savings - perhap I should investigate, thanks for the suggestion,

[Gersemi]

Cynergy Bank are offering 3.71% (including a 0.5% bonus for 12 months) for easy access, online only (but not via an app). Unlimited withdrawals.

[Newroad]

Hi Arb.

Pseudo-real-time is how I would describe it (with their Direct Saver product) - you ask one working day and you get it the next working day.

Regards, Newroad

[simoan]

Well, only two weeks ago I switched to an easy access account paying 3.3% with Paragon. I’m using HL Active Savings to switch money around. It’s very convenient and works well, so takes very little of my time.

Never heard of HL Active savings - perhap I should investigate, thanks for the suggestion,

HL Active Savings is a portal which allows you to see savings products from multiple financial institutions, everything from instant access and short-term (6 or 9 months) to 2 year bonds. Applying for the product is done easily through the HL platform with no need to go direct to the provider as is the case with similar portals. The whole thing is seamless. I use it for instant access but have also set up a Savings “ladder” by investing money in a new fixed rate bond every couple of months. From January next year I will have bonds maturing every couple of months and will take a view on whether to reinvest in bonds at that time.

All the best, Si

[stevensfo]

2-yr savings account offered via Investec now up to 4.95%
1-yr savings account offered via Paragon now up to 4.75%

Steve

2-yr savings account offered via Investec now up to 5.15%
1-yr savings account offered via Paragon still at 4.75%

I just checked the latest AJBell fixed rates:

2-yr savings account offered via QIB now up to 5.45%
1-yr savings account offered via QIB now up to 5.35%
6 months savings account offered via QIB now up to 4.75%

https://www.ajbell.co.uk/cash-savings#list

Steve