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  • Mr._H_2
    Mr._H_2 Posts: 488
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    regular savers are a useful, but if you have a lump sum to save don't forget to put that lump sum into an account that has a decent rate.

    If you don't mind jumping through the hoops of monthly money transfers, it seems the best instant-access rate you can get at the moment is with Lloyds Vantage current accounts at 3% (assuming you have the required amount to save). Otherwise you're looking at about 2.5%. But that's still better than leaving the lump sum in a current account paying 0.1% or 0%!
  • Martin is saying that M&S is top for fixed interest savings (e.g. 1yr at 3%) but M&S site is offering 2.3%??? Has the 3% now finished?
    ss
  • I-LOV-MONEY
    I-LOV-MONEY Posts: 1,267
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    KTF wrote: »
    You can also open another FD regular saver.

    Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

    Month 1 invest £100 for 12 months
    Month 2 invest £100 for 11 months (8% / 12 * 11)
    Month 3 invest £100 for 10 months (8% / 12 * 10)
    ....
    Month 12 invest £100 for 1 month (8% / 12 = .666%)

    If you can afford a lump sum investment (preferably at fixed interest) is much better.
    Thank you for reading this message.
  • DragonQ
    DragonQ Posts: 2,193
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    Or just drip-feed your money from a good savings account into the regular account to maximise interest.
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    Remember with a regular savings account you only actually get the advertised rate of 8% on one month's investment.

    If you can afford a lump sum investment (preferably at fixed interest) is much better.
    Show me where I can get 4.2% on a 1 year investment (the equivalent you'll need to match it) and I'll happily put my money there instead of FD's Regular saver, but I don't think its possible, so therefore its actually better than a lump sum investment. Plus of course, the rest of the cash will be in an account gaining ~3%, so the end result is far better.
  • rb10 wrote: »
    Just write a letter asking to close accounts with account numbers A, B, C, etc. Put it through a branch letterbox or post it to them. Quick & easy.
    Probably sounds ridiculous, but I didn't really think that my savings accounts had any relationship with my local branch at all.

    You don't need to write to the branch; write to the head office as detailed on the "Contact us" section of their web site. Then list the sort codes and account numbers you want to close along with details of an account to transfer any interest to.

    I have been doing that for years with Halifax and Lloyds and it works fine. Less hassle than a telephone or branch visit.
  • I have a saving account and has ATM of it. So its easy to get money in danger time.
  • 4$£&*(£$&*(!
    4$£&*(£$&*(! Posts: 999 Forumite
    edited 15 November 2012 at 3:18PM
    It appears the Derbyshire 2.5% rate has been pulled and now offers 2.2%.
  • I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

    Loyalty Saver
    Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with £1,000. Minimum age 18

    Rates effective from 03/10/2012

    http://www.nationwide.co.uk/savings/all_accounts/all_accounts.htm
  • 2010
    2010 Posts: 5,329
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    frugalmike wrote: »
    I've just opened a loyalty saver and as i have been a member over many years I will get 2.6% this is a passbook account which many prefer.

    Loyalty Saver
    Exclusively available to our existing customers (eligibility criteria applies), Loyalty Saver is a branch based instant access savings account that rewards you with an interest rate linked to the length of your continuous membership with Nationwide. Open with £1,000. Minimum age 18

    Rates effective from 03/10/2012

    http://www.nationwide.co.uk/savings/all_accounts/all_accounts.htm

    Considering they bang the drum about looking after their members and have no shareholders to pay out to, the loyalty rates are pretty poor.
    15 years a member and they give you 2.6%, very generous.
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