BEST SAVINGS: April 2024 update inc British Savings Bonds & Chase/Santander cuts

Find out which savings accounts will pay you the best rates right now in my latest roundup.
*Find the latest accounts in my regularly updated savings account best-buy article over on our site
becleverwithyourcash.com/savi...
*More on these updates on the blog
April-2024s-savings-round-up-news/?Organic_KZbin&Banking_savings&Apr24_link_preview
W A T C H N E X T
Updates on the best savings, current accounts and credit cards
• The best children's sa...
Regular Savings accounts explained
• Are Regular Savers wor...
#Savings #HighInterest #BestSavingsAccounts
TIMESTAMPS
00:00 Inflation and base rate update
01:36 Are rates better or worse than last month
03.10 Santander and Chase to cut rates
05:00 Best Easy Access accounts - up to 7%
09:30 New British Savings Bond
11:50 Best fixed rate savings - up to 5.26%
12:30 Best regular savers - up to 7%
14:32 Best ISAs, including Plum 5.17%
MORE
S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
(You'll also get a free Quidco bonus for signing up)
T W I T T E R - / beclevercash
I N S T A G R A M - / becleverwithyourcash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
B L O G - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.

[@williamroberts7797]

So the same government that was warning banks last year they need to offer savers better rates has come out with a savings bond that isn't even competitive with the stingy rates offered by the banks, great job!

[@nothingtosee7718]

Saving rates are just too low, they need increasing to encourage savers..

[@jamie_j0h]

Yeah but hopefully they’ll stabilise at the 3-4% mark, I really can’t see the crazy low 0.25% rates coming back anytime soon

[@deancarter981]

@@jamie_j0h yeah those low rates we had years ago were disgusting !

[@OH2023-cj9if]

NS&I did everyone a favour last year with that 6.2% 1year bond!

[@bigdhav]

So annoyed I missed out on it!

[@rob2738]

Yep, got a good lump in that one. 😍

[@kinggeoffrey3801]

I have a fixed year account with Santander, it was supposed to be fixed at 5.2% until September. They are now reducing it to 4.2% in May.

[@jamie_j0h]

I have the same product, the rate was always variable. Some banks say that they give something like a "fixed 1% bonus" but that means nothing at in the other 4.2% would be variable

[@LondonLeccyBike]

Paragon is the best for easy access . But once my Santander is set up I’m going use there 7% up to 4k

[@stevenwoollard7266]

I have a question around how the interest rates work! I am very new to the savings game and trying my best to sort out my financials so hopefully someone can help! I see Moneybox has the 5.16% * AER (variable) offer. If I was to deposit say £500 a month into that account, every month for the year, would the interest be compounded and total up to a higher amount or would it work out to be just a 5.16% increase on top of what I have deposited total? Any help on what is most likely a silly question would be greatly appreciated!!

[@olubodundavid2412]

Hey Andy, The Cahoot Sunny Day Saver at 5.2%, are the interest paid monthly or at the end of the year?

[@jno5]

Skipton B/s have an 18 month fixed cash ISA at 4.75% or a 30 months fixed cash ISA at 4.5%……do you think rates will fall so that you’d gain more than the .25% loss from the first 18 months in the last 12 months….? I think it’s a possibility

[@patpalloon]

Hi Andy, feeling a bit miffed with Chase. I thought I had complied with the change in cash back by paying in £1500 to my savings account in March to qualify for April. But the new cashback doesn't start til April 23 and because I didn't pay £500 in to my Chase current account I didn't qualify for 1-23 April.

[@Norfolkpaul]

Great video 😊

[@andyh6628]

I guess it's worth going with a fixed ISA over those EA ones even though the EA accounts offer slightly better rates. No doubt those rates will start to tumble below the highest Fixed rates at the moment over the next couple of months anyway.

[@sidkings]

Kroo, 4.35% up to £500,000

[@cariyunis82]

What about virgen money?defined access E- saver is worth it?

[@timlay4504]

your missing the Monument Easy Access 5.11% (min £10K though)

[@bosshood-lv1bo]

is there any point now having in saving bank accounts as the new limit will only be 500 and the rest will be taxed so i think it better of to put in a cash ISA for my money now.

[@deancarter981]

yeah but in future if the Gvt needs new tax revenue, they will start looking at cash ISA`s

[@alibali193]

I can't save more at the moment because I have a benefits top up. If I save more I will be worse off. Instead I am choosing to make regular mortgage overpayments

[@alibali193]

I also have a help to save account. I put the maximum in this every month but need to take it out of my regular savings to stay under the £6k limit. I have calculated I will only need to do this for the next 3 years as my income is rising

[@yamayousofy4099]

How can receive money?

[@DatGuy-jz3se]

For those considering the Trading 212 ISA to take advantage of the 5.2%, it’s worth noting that it’s currently a non-flexible ISA.

[@IAmebAdger]

In theory you could just complete a partial ISA transfer out of the Trading212 account into a flexible ISA whenever you need to withdraw without hurting your allowance. At least I think it works that way.

[@Mileshals]

Also be advised you are taking on risk as you are investing in the risk level 1 fund

[@DatGuy-jz3se]

⁠@@IAmebAdgerYou’re right, a representative confirmed this works. They did mention one caveat would be the ISA transfer time of 30 working days as Trading 212 is a S&S ISA even if the holdings itself are all in cash.

[@ajm-934]

thanks for this info - does that mean it takes up your £20k ISA allowance or is it separate?

[@Mileshals]

Depends if you open an ISA with them lol

[@rodneykitchen3869]

Gold is the best investment overall with no middle men

[@cristoff3]

but it produces no interest, just goes up and down over the years. doesn't produce anything

[@AdyWalter]

Did Ulster change their savings account? I have the Ulster Loyalty saver paying 5.2% and dont have a current account with them. I opened it in December last year..

[@BeCleverWithYourCash]

Yep!

[@Naturalmedicineprescription]

can't get one as a new account now?

[@adamingleton8529]

Chase have just announced a 5.1% account, (09/04/24) got an email today

[@alfieldau330]

Cynergy 5.1%

[@annax3822]

First direct 7% regularly saver £300 pm max

[@138spoon]

Charter through monzo. Next day access isa 4.8%, also monzo standard easy access isa is 4.1%.great now we can have multiple ISA

[@ML-jr1yz]

You always miss the 7 year fixed isa !

[@Mileshals]

Why would you even entertain this

[@jamie_j0h]

Very few people are going to want to lock their money away that long, and the ones that do would probs be better putting it into the markets