Paragon Savings going down to 0.3% on 1st August

So you get 0.1% for £0-£9,999 and 1.2% for £10,000-£100,000.

Vs Marcus which gives you 1.05% for the whole lot.

If my maths is right, you’d need over £63k in the E-asy account before you started earning more interest than you’d get from Marcus.

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Moneybox cash lisa is at 1.25% for now.

Crazy that its the best rate atm

It’s why i’m not too worried

If rates are at 0.1% or nothing you may as well hoard cash in a current account as with deflation it will gain value.

(It’s like hoarding cash under the mattress but unlike cash money hoarded in a current account is alot safer from fires and theft)

No, that isn’t correct. The account itself is geared around being a minimum 10k account. I’ve just seen that it’s closed to applications, though.

‘A minimum balance of £10,000 is required’

If it falls below 10k it switches to 0.1%, it’s best seen more like a penalty

“At current interest rates a deposit of £10,000 would generate an interest of £119.65 after 12 months. This would provide a final balance of £10,119.65.”

So it would be 1.2% on an entire 11k, 12k, 13k, 14k etc

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Otherwise on you have 12% (yes double digits) interest a.e.r. on stable coins (TGBP to name it), meaning your capital is not subject to fluctuations of other crypto currencies as it’s directly indexed on the GBP.

10k of capital gives you £100/month.

That’s definitely not an ISA though, so interests are subject to taxes, but still a pretty good thing for those who want to diversify their assets.

My Shawbrook is still at 1.12, have they forgotten about it…

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I would really like to see Monzo writing a blog post to advise thier customers on what to now interest rates have dropped.

There should be in app notfications advising people when interest rates have dropped on their savings and again advising people to switch.

Monzo should not be following the practise of legacy banks of leaving long term customers on low interest accounts they should make sure people get the best possible rates. One Nationwide account I no longer use has a rate of 0.01% and nationwide are happy to keep providing me with that “service”.


The last time they tried that, it was a mess :grimacing:

Told people interest was dropping one of their pots and they should switch to one with a better rate. Then had to tell people not to switch because they got the advice wrong because they hadn’t taken the end of the financial year into account, and that they should switch back and switch out again after the year was over instead.

It was a mess.

well I got an email advising me , cant remember if I got anything in app

which then had a link in the email to a blog post here -

Investec goes down next week.

0.93% AER/Gross to 0.70% AER/0.69% Gross.

interest rates below 1%… that is gross indeed :wink:



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Investec e asy now cut to 0.85pc

Chip saving app is in the process of rolling out easy access rates at 0.9%. Monzo should be able to find better deals.

This post on MSE forum states rate going down to 0.50% on 3 July 2020. That’s direct!!

Bearing in mind Monzo take a cut, is our interest-bearing pot rate going to be reduced even further??

If it does then you’ll get advanced notification by email about it

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The Shawbrook one on Monzo is going from 1.1 to 0.3

Yes, that’s being discussed in the Shawbrook thread.

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On 1 August 2020 , the interest rate on your Paragon Easy Access Savings Pot will be reducing to 0.30% AER/Gross.


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