Savings interest rate thread

[leef44]

steveo3002 said:

leef44 said:

Have any considered Hargreaves Active Saver?

I'm trying to work out the downsides.

downside from a quick look = theyre almost 0.5% below best instant access accounts

ok thanks, that's useful to know

[981Boxess]

leef44 said:

Since they earn their commission from the banks, I wonder whether you are getting the same deal as if you opened an account directly with the bank.

It is easier, but convenience costs, compare the rates.

[CorradoTDI]

leef44 said:

981Boxess said:

leef44 said:

I'm trying to work out the downsides.

What are the upsides?

You set up an account with Hargreaves. They show a whole list of account saving deals, you pick which ones then your money gets moved into those accounts. You don't need to go through the whole process of opening account with different banks, you just select which account and move your funds.

Your funds are strictly held by Hargreaves and they have an account with the bank, your funds are put in a pot but it means you don't need to manage a whole load of different accounts with different banks and close them down when the interest deal finishes.

The funds are managed like their equity funds so if they go bust then your funds are held safe separately with the banks.

Since they earn their commission from the banks, I wonder whether you are getting the same deal as if you opened an account directly with the bank.

That actually sounds like a really good concept but as others have said, the rates are way off... if they want to gain customers they should offer (at least) 3% as an easy access option and then try to retain people.

[steveo3002]

anyone know when the b.o.e will look at the rates again?

[Fusion777]

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

[steveo3002]

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

[Killer2005]

steveo3002 said:

fingers crossed it goes up

:Yes: I have some inheritance I want to tie up for a few years, very nearly signed up to a 2yr fixed rate saver at 4.7% but decided to wait, now the best is 4.45%.

[a311]

I've just opened a YBS ISA @2.75%. I've not had an ISA for years but with rate increases I'm going to be exceeding the personal allowance.

[steveo3002]

a311 said:

I've just opened a YBS ISA @2.75%. I've not had an ISA for years but with rate increases I'm going to be exceeding the personal allowance.

did you not see the 4% one

[a311]

steveo3002 said:

a311 said:

I've just opened a YBS ISA @2.75%. I've not had an ISA for years but with rate increases I'm going to be exceeding the personal allowance.

did you not see the 4% one

I might end up doing that but getting some building work done so not looking to tie anything up until into the next tax year. Also seems to be open in branch for new customers and our brach closed about 18 months ago.

[OldSkoolRS]

Killer2005 said:

:Yes: I have some inheritance I want to tie up for a few years, very nearly signed up to a 2yr fixed rate saver at 4.7% but decided to wait, now the best is 4.45%.

Similar here, but still waiting on Probate, so I've watched the longer term fixed rates drop from over 5% to 4.5% at 3 or 5 years. I'm not convinced they are going to go up though as they have fallen since the December BOE rate rise and I think they were falling before that too.

I'll probably have no choice but to wait, though as soon as mine comes through I'm going to lock a chunk into the best 5 year rate I can find as I just want to cream off the interest to boost my income.

a311 said:

I might end up doing that but getting some building work done so not looking to tie anything up until into the next tax year. Also seems to be open in branch for new customers and our brach closed about 18 months ago.

Virgin fixed 1 year is currently 3.79% and really easy to set up on line. I did one ages ago (at a now poor 2.4% ) and my wife did a 2 year one recently. She was getting frustrated with the faff trying to set one up with other banks and Virgin was her last attempt before just putting it into Premium bonds.

[mark seeker]

Apologies if already posted, Shawbrook Bank are offering 2.92% (annually) or 2.88% monthly currently.

[981Boxess]

steveo3002 said:

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

Unfortunately unless you have a tracker rate there is no guarentee they will pass any of it on.

[paulw123]

981Boxess said:

steveo3002 said:

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

Unfortunately unless you have a tracker rate there is no guarentee they will pass any of it on.

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

[madbadger]

paulw123 said:

981Boxess said:

steveo3002 said:

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

Unfortunately unless you have a tracker rate there is no guarentee they will pass any of it on.

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

Be nice if they upped the round up account from 5% too. It was a nice feature with the savings at 2.1% but feels like it is lagging a bit now.

[the tribester]

madbadger said:

paulw123 said:

981Boxess said:

steveo3002 said:

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

Unfortunately unless you have a tracker rate there is no guarentee they will pass any of it on.

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

Be nice if they upped the round up account from 5% too. It was a nice feature with the savings at 2.1% but feels like it is lagging a bit now.

Chase just upped it to 3% from 13th Feb

[brickwall]

And the chase limit is £500k (from their previous change) vs £250k for Santander.

[paulw123]

the tribester said:

madbadger said:

paulw123 said:

981Boxess said:

steveo3002 said:

Fusion777 said:

steveo3002 said:

anyone know when the b.o.e will look at the rates again?

2nd Feb (a week's time).

fingers crossed it goes up

Unfortunately unless you have a tracker rate there is no guarentee they will pass any of it on.

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

Be nice if they upped the round up account from 5% too. It was a nice feature with the savings at 2.1% but feels like it is lagging a bit now.

Chase just upped it to 3% from 13th Feb

Just had the email! I prefer their banking app so Santander so will head back on the 13th

[OldSkoolRS]

Coventry are 'reviewing their rates' after today's BoE announcement. I have one of the 3.2% savings accounts with them (6 withdrawals a year) so not strictly instant access like Santander effectively I can withdraw every two months and move to my Santander account as needed.

[Shnozz]

paulw123 said:

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

And boom.