Best savings account?

DJMK4 said:
I usually use the moneysaving expert website as it has a table comparison.

Not sure if I should lock away for a year before further reductions
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It really depends what you want.. Most of my cash I can't move into an ISA is locked in a 90day notice account.

They've just dropped their rates but given me notice.

So now I have to decide whether to pull the lot out and put it into a higher paying account..

But I need to think 3 months ahead with that, as if I pull out right now, I won't get the money until November so I've got to try to judge whether to stick or twist.

In all likelihood I'll probably wait until December to pull out, so I have a lot of liquid cash to put into my ISAs come April '26 as I've already maxed out my ISA allowance for this year.

But it really depends your circumstances and what your goals are.
 
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And don't forget the autumn budget is yet to happen... So it's probably best to at least chill out until then, and see what the Chancellor and the BOE has to say.
 
mattyfez said:
And don't forget the autumn budget is yet to happen... So it's probably best to at least chill out until then, and see what the Chancellor and the BOE has to say.
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I can wait but i can guarantee it won't be savers that benifit. Highly unlikely
 
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DJMK4 said:
I can wait but i can guarantee it won't be savers that benifit. Highly unlikely
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I think you're conflating the BOE base rate with government decisions on tax.

The bank of england is independent of the government, as is the judiciary for very good reasons.

The job of the bank of england is to independently control inflation, be that up, or down.

The job of the government is to get elected.

You only have to look at the USA to see why giving full control to the government du jour is a terrible idea.

Assuming you have a mortgage it's actually quite simple... When interest rates are low, save less and over pay on your mortgage or any other high interest debts if possible, such as car finance, etc.

If interest rates go up, pay a bit less toward your debts and and save/invest more.
 
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mattyfez said:
How so? best I can see is 4.3% for a 1 year fix? and that's with no withdrawals for 12 months, so it's really locked up.

Existing customer bonus?

www.vanquis.com

Savings Accounts

Vanquis offers award-winning fixed rate savings bonds and notice accounts. Find out about our savings accounts.
www.vanquis.com www.vanquis.com
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Your money is locked up for the term of your choice (fixed), I signed up on the morning of the BOE rate fix @4.44%. (before the rate cut)
30 days to fund your account, so that covered me for when my old fix term accounts matured to fund my new account..

You'll lose I think 0.06% by choosing the monthly interest rate option.
 
My cash savings are:

Natwest regular saver: 150ppm @ 5.5% - not fixed
caps out at 5k..but DOESN'T reset each year. So a slow burner but once to that 5k it's great

Lloyd's regular saver: 400ppm @ 6.25% - fixed
Does reset every year but hoping to get next one in before that rate drops

T212 cash isa.
For funds I need/can use instantly.
 
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Just opened a cash ISA with Plum. 4.41% AER. The only one which is higher is T212, but that's noobs only and I've already got my shares with them.
 
Diddums said:
Just opened a cash ISA with Plum. 4.41% AER. The only one which is higher is T212, but that's noobs only and I've already got my shares with them.
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Trying to understand Plums rates... so I currently have £40k in an Isa at 3.5%. I open up a Plum Isa and put £10k in at 4.41. I then transfer in the £40k... whats my rate on £50k? On the site it says "Rate when you transfer in your existing ISA" is 3%?
 
Goksly said:
Trying to understand Plums rates... so I currently have £40k in an Isa at 3.5%. I open up a Plum Isa and put £10k in at 4.41. I then transfer in the £40k... whats my rate on £50k? On the site it says "Rate when you transfer in your existing ISA" is 3%?
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No idea tbh. I'd get on their chat and ask them (and screenshot any responses).
 
@Goksly forgot to mention I got £10 through Topcashback too. If you don't have a TCB account let me know and I'll send you a referral. You'll get another £10 on top of that too.
 
413x said:
Lloyd's regular saver: 400ppm @ 6.25% - fixed
Does reset every year but hoping to get next one in before that rate drops
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Opened an 2nd account last week after my first one matured end of July. Hopefully I can do the same next year and the rate hasnt dropped by much.
 
malachi said:
Opened an 2nd account last week after my first one matured end of July. Hopefully I can do the same next year and the rate hasnt dropped by much.
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Best I know out there for regular saving. Anyone with a job can make use of regular savers.
 
Why have trading212 switch to 12 month bonus ? this is what annoys me with some of these companies. At first people were like yeh sign up, we will give you a 12 month bonus rate, then companies started doing 3 month, which is where i signed up to trading212 unfortunatly when they were only giving out 3 month bonus rates, now they are flaunting 12 month bonus rates to new customers?

why not just stick with 12 months ?

I noticed other companies doing this
 
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Someone has crunched the numbers and decided it's now worth the risk of offering a bonus for 12 months rather than 3/6/9/whatever.

They're there to make money at the end of the day and we're probably in one of the most unstable times in terms of anyone being able to predict what's going on with the world economy so things are flip flopping around.
 
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This just popped up for those not brave/stupid enough to YOLO their money in to GME.
 
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ShiWarrior said:
I just opened chase one. 4.75%
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This is what im using, 4.75 %

Although because im a higher rate tax payer, i need to try and stay under the £500 in earned interest otherwise i get taxed.


Ironically, i got a HMRC notification about 4 months ago stating that i owed £520 of tax, therefore the interest im currently earning every month from the chase account so far has been used to pay back tax i owe :( :(

Although i think i have one more payment of £50 or £60 to pay and what i owe in tax should be paid off.
 
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