Best savings account?

tom_e · 22 Feb 2023 at 06:47

Zatoichi.uK said:
Was kinda tempted by the Nutmeg offer. Really liking Chase so far. Great app too.

I've done it, tying up £500 for a couple of months for 20% back seems like a good idea to me

SAM81 · 22 Feb 2023 at 07:16

tom_e said:
I've done it, tying up £500 for a couple of months for 20% back seems like a good idea to me

Whats the offer?

tom_e · 22 Feb 2023 at 07:20

SAM81 said:
Whats the offer?

Open a Nutmeg account through the link in your Chase app and pay in £1k before 5th (IIRC) April and then keep at least the minimum amount to keep the account open (£500 for most of them) in there until 30th June then shortly after you'll get £100 deposited into your Nutmeg account.

SAM81 · 22 Feb 2023 at 07:21

tom_e said:
Open a Nutmeg account through the link in your Chase app and pay in £1k before 5th (IIRC) April and then keep at least the minimum amount to keep the account open (£500 for most of them) in there until 30th June then shortly after you'll get £100 deposited into your Nutmeg account.

Nice one

Marmot · 22 Feb 2023 at 07:29

3% on Monzo which seems fairly competitive

DJMK4 · 22 Feb 2023 at 08:18

Hi, whats the best savings account at the moment yeilding the highest interest where i can make either up to £400 contributions per month or no limit per month, and not have a max overall limit if possible. Interest paid monthly again preferable?

tom_e · 22 Feb 2023 at 08:20

DJMK4 said:
Hi, whats the best savings account at the moment yeilding the highest interest where i can make either up to £400 contributions per month or no limit per month, and not have a max overall limit if possible. Interest paid monthly again preferable?

Chip

Freakbro · 22 Feb 2023 at 08:27

I'll get me and the misses on that Chase offer, couple of hundred will be a nice Brucey bonus just before we go to see Rammstein in Berlin :cool:

Dirk Diggler · 22 Feb 2023 at 09:04

Marmot said:
3% on Monzo which seems fairly competitive

Yes, I noticed that alert yesterday. Pretty good.

bigmike20vt · 22 Feb 2023 at 09:16

i just had a message from santander.. they are upping my interest rate from 1.75% to 2%. i was going to leave them............. i still am, given there is a monthly charge as well as a max limit you get any interest on in the account as well as having to have direct debits. that is still a poor interest rate i think. Shame. back in the day the 1,2,3 account was great.

413x · 22 Feb 2023 at 09:20

DJMK4 said:
Hi, whats the best savings account at the moment yeilding the highest interest where i can make either up to £400 contributions per month or no limit per month, and not have a max overall limit if possible. Interest paid monthly again preferable?

I'm using lloyds and first direct for 5.25pc and 7pc with a 400 and 300 deposit per month for a year fixed.
I put my lump sum in a fixed bond. Before this so the regular savers worked well for me.
FD gave 175 cash too.

So come December I should land 460 in interest. Nearly 190 from my fixed bond, 135 from Lloyd's and 135 from fd.

Will be 635 in total in December. 175 from fd and the 460 in interest

200sols · 22 Feb 2023 at 09:24

413x said:
3600 is quite a lot for me!

The interest is only about £160 though, cheap holiday :cry:

413x · 22 Feb 2023 at 09:26

200sols said:
The interest is only about £160 though, cheap holiday

The whole amount will feel like free money though. That's how free money works!

Freakbro · 22 Feb 2023 at 09:28

200sols said:
The interest is only about £160 though, cheap holiday

I've done a week in Gran Canaria for less than that

Those were the days when My Travel used to sell off package holidays in an eBay-like bidding way lol, had quite a few insanely cheap holidays.

DJMK4 · 22 Feb 2023 at 09:31

413x said:
I'm using lloyds and first direct for 5.25pc and 7pc with a 400 and 300 deposit per month for a year fixed.
I put my lump sum in a fixed bond. Before this so the regular savers worked well for me.
FD gave 175 cash too.

So come December I should land 460 in interest. Nearly 190 from my fixed bond, 135 from Lloyd's and 135 from fd.

Will be 635 in total in December. 175 from fd and the 460 in interest

First direct seems ok, however its paid yearly. Which i guess is not too bad but would prefer monthly,

413x · 22 Feb 2023 at 09:33

DJMK4 said:
First direct seems ok, however its paid yearly. Which i guess is not too bad but would prefer monthly,

Works for me as I have a big buy now pay later January holiday.
Also planning on buying a van in 2024 so I don't need access to that for a year for sure.

Also, can't go over 500 in interest outside an isa due to tax.

ShiWarrior · 22 Feb 2023 at 13:54

Barclays customers :

Only available to Barclays Blue Rewards members
5.12% AER/5.00% gross p.a.1.on balances up to £5,000
0.55% AER/gross p.a.1 on balances over £5,000
Open your account, access and manage your savings using our app, Online Banking, by phone or in a branch2
Open from £1 – if you want to save regularly you can set up a standing order

So what would i get after the year if i put £5K in ?

ci_newman · 22 Feb 2023 at 13:58

ShiWarrior said:
Barclays customers :

Only available to Barclays Blue Rewards members

5.12% AER/5.00% gross p.a.1.on balances up to £5,000

0.55% AER/gross p.a.1 on balances over £5,000

Open your account, access and manage your savings using our app, Online Banking, by phone or in a branch2

Open from £1 – if you want to save regularly you can set up a standing order

So what would i get after the year if i put £5K in ?

Drip-feed £5k or lump sum from day1?

ShiWarrior · 22 Feb 2023 at 13:58

lump sum
open it with 5K

tom_e · 22 Feb 2023 at 14:01

ShiWarrior said:
Barclays customers :

Only available to Barclays Blue Rewards members

5.12% AER/5.00% gross p.a.1.on balances up to £5,000

0.55% AER/gross p.a.1 on balances over £5,000

Open your account, access and manage your savings using our app, Online Banking, by phone or in a branch2

Open from £1 – if you want to save regularly you can set up a standing order

So what would i get after the year if i put £5K in ?

£256 minus whatever the fee is for being a blue rewards member.