Savings accounts with “high” interest rates

Banking
1

I was about to post this in the Atom thread then I thought it might be better suited in its own thread. Currently I have savings spread across four “high” interest accounts

  • Club Lloyds - 1% (max £250 per month)
  • Club Lloyds - 1.5% (max £400 per month)
  • Virgin Money Current Account 2.02% (balances up to £1000)
  • RBS online saver - 3% (max £50 per month)

There is also my main Club Lloyds current account which pays 1.6% on certain balances up to £5000.

These all have limitations on terms of how much you can put in every month or maximum balances but I wondered if anyone else knows of any other instant access 1% or higher gems out there

2

I’m trying out the Dozens 5% bonds this month

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3

I get £5 per month from Halifax Rewards and £3 per month (net) from Barclays Rewards, using the same £300, recycled weekly between the accounts.

Not really high interest, however, £5 pm on a £300 balance hits about a 20% return over the year :smiley:

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4

Rbs ‘pay me’ £3 a month to bank with them. I haven’t bothered with the 3% saver not sure if it’s worth it.

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5

If it’s a regular saver, the effective annual interest rate will be 1.5% on the total sum saved, anyway. So if 3% doesn’t cut it for you….

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6

Chip pays 1.25% on their Chip+1 account

Can get this for free on balances up to £2k, but there’s a £1.50/month fee if you want to earn this on higher balances.

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7

My view on this was that for the sake of a £50 per month standing order why wouldn’t I?

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8

My current view is that interest rates are so appallingly low, why would I bother having any savings accounts at all? and that is my current situation, I have no savings accounts at all.

9

I don’t really trust myself with large balances in my primary account so that’s another reason to try and spread the money out

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10

So you don’t bother with an emergency savings fund?

11

And I get that. God forbid you should see what’s currently in mine and the Wife’s joint account! We really really should do something with it.

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12

No, we really, really don’t need one.

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13

What would you do if you both suddenly lost your source of income? Sell assets?

14

I’m semi-retired, basically, I just work when I feel like it. I have a decent final salary pension.

Wife works in Government.

No kids, no pets.

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15

Ah, so probably very different to what most others on here need to plan for.

16

My life goal :grinning_face_with_smiling_eyes:

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17

Yes, absolutely. Because we never had kids, we were able to concentrate on planning and looking after our futures over 2 decades ago. Not only that, we’ve kept our carbon footprint down in the process!

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18

Don’t have kids, trust me, financially, it’s a dream

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19

Don’t have them, don’t want them

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20

There’s a YBS Loyalty Saver for 3.5pc if eligible but currently have a comp in with them as they ballsed something up so think I’ll pass