1% savings and nothing else

[Irina2817]

To think that savings rates have to rise?

the base rate is now 1% so surely the best savings rates should be above 1%?

is this a nerdy question! Yes!

You can get 1.5% with Chase bank.
Have a look at the money saving expert site

There are already accounts that pay over 1%, if yours doesn't move your account.

Absolutely they should. We had money from the sale of our last house to invest. Rates are appalling for savings, even the bank staff were admitting the rates were awful.

Look at Chase. They are 1.5%.

Oops just I've just seen a PP suggesting the same. An added benefit is it comes with a current account and debit card. You don't need to use it as your main account but if you are going on holiday you can put money in then use it abroad without transaction fees and with a near spot exchange rate.

And for the first 12 months, you get 1% cash back on all debit card spending.

Of course, earning 1.5% isn't great when inflation is running at about 5%.........

Which is a then a very good reason KITE to try and get the best rate possible.

Absolutely @TheDogsMother
As I have been trying to do for the last decade.
It hurts that when we were paying interest (on our mortgage) interest rates were in double figures for so long, and since I've had savings instead, and would like to earn some interest, rates have been miniscule.

They will probably start to rise a little over the next few weeks (wouldn't expect by more than .25% though!). Banks and building societies find out about the rate change at the same time as the rest of us so then have to confirm new rates and do all the admin involved in setting them up before they change for customers.

If you can go for fixed term rather than instant access you can get way better than 1% though!

The Chase deal is app only and they app will not download for me from iTunes (something to do with compatibility). Has anybody else experienced this? i am keen to move my funds out of the 0.1% account!

Yeah I just downloaded it from the App Store on iPhone, no problem

It is probably a technical problem which is difficult to explain or solve but unfortunately, it prevents me from going for it. I am hoping that other good deals come along soon.

Why anyone would keep their savings in a bank baffles me. Invest, invest, invest! 5-10% a year is easily achievable with a mediocre investment account, S and P 500 is practically guaranteed to return 8-10% PA. You only pay CGT on gains over £12000, no brainer...

Could you recommend anything that is easy access?

Vanguard stocks and shares ISA, fees are dirt cheap.

Thanks. i think you can only invest £20,000 pa. I have a bit more than that. I do not have a pension so I do wonder whether I should be getting my act together!