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    • ArtyH
    • By ArtyH 7th Nov 12, 9:45 AM
    • 3 Posts
    • 5 Thanks
    ArtyH
    Recently retired so have time to manage my finances now.
    Missed out on a few months higher interest from a Santander esaver account which was my fault for not keeping track of it, however a few decent banks/building societies now contact the saver and inform them when the end date is near.
    No such luck with Santander .
    So after looking around I went for the West Brom B/S which is currently giving savers a massive 2.52% ( Oh I.C.I.C.I where is your 7% interest rate now ), truly shocking but the best I have found. You can take money out 4 times a year without penalty so not too bad in this political climate of poverty.
  • LG88
    All,

    Need some help! I have had a First Direct Regular Saver (8%), and its coming to its one year anniversary next week, and will be transferred to its Savings Account (0.05%) , so I was planning on transferring it back to my current account, and investing it elsewhere.

    Any tips on where I could put it into next? I have current accounts with FD, Santander, Halifax, and IF, if any of those have associated savers that have good rates for a year?

    I was appealed by the Cheshire BS Regular at 5%, however it’s a branch only account, and I don’t live in that area, which is a shame.

    Any tips would be much appreciated.

    Cheers, LG
    • KTF
    • By KTF 7th Nov 12, 3:17 PM
    • 4,389 Posts
    • 1,775 Thanks
    KTF
    You can also open another FD regular saver.
  • Mr. H
    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%!
    • steve6375
    • By steve6375 8th Nov 12, 12:25 PM
    • 53 Posts
    • 53 Thanks
    steve6375
    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
    • By I-LOV-MONEY 8th Nov 12, 4:31 PM
    • 937 Posts
    • 539 Thanks
    I-LOV-MONEY
    You can also open another FD regular saver.
    Originally posted by KTF
    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.
    I thank you for reading this message. Maybe you will thank me for posting it!
    • DragonQ
    • By DragonQ 8th Nov 12, 4:33 PM
    • 1,897 Posts
    • 626 Thanks
    DragonQ
    Or just drip-feed your money from a good savings account into the regular account to maximise interest.
    • Gromitt
    • By Gromitt 8th Nov 12, 5:54 PM
    • 4,971 Posts
    • 2,378 Thanks
    Gromitt
    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.
    Originally posted by I-LOV-MONEY
    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.
    • MikeMcr
    • By MikeMcr 12th Nov 12, 10:10 PM
    • 16 Posts
    • 5 Thanks
    MikeMcr
    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.
    Originally posted by Wendell Pierce
    Originally posted by rb10
    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.
  • qualitynet
    I have a saving account and has ATM of it. So its easy to get money in danger time.
    • CitySlicker
    • By CitySlicker 15th Nov 12, 3:09 PM
    • 985 Posts
    • 973 Thanks
    CitySlicker
    It appears the Derbyshire 2.5% rate has been pulled and now offers 2.2%.
    Last edited by CitySlicker; 15-11-2012 at 3:18 PM.
    • frugalmike
    • By frugalmike 15th Nov 12, 4:36 PM
    • 98 Posts
    • 53 Thanks
    frugalmike
    up to 2.6 % for existing Nationwide customers
    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
    • By 2010 15th Nov 12, 6:21 PM
    • 3,895 Posts
    • 3,156 Thanks
    2010
    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
    Originally posted by frugalmike
    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.
  • rb10
    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.
    Originally posted by 2010
    Where else can you get 2.6% instant access at the moment?
    • 2010
    • By 2010 16th Nov 12, 7:24 AM
    • 3,895 Posts
    • 3,156 Thanks
    2010
    Where else can you get 2.6% instant access at the moment?
    Originally posted by rb10
    I could get it with them but you couldn`t unless you`ve been a member for fifteen years.

    The point I`m making is for all their banging of the mutuality drum, they are and have been one of the worse providers as regards saving rates.

    They would have something to shout about if the 2.6% was for EVERYONE.
    • chun
    • By chun 16th Nov 12, 1:02 PM
    • 221 Posts
    • 163 Thanks
    chun
    2.40
    Hello
    Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
    • 2010
    • By 2010 16th Nov 12, 2:27 PM
    • 3,895 Posts
    • 3,156 Thanks
    2010
    Hello
    Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
    Originally posted by chun
    Looks like they`ve chopped it already.

    Crap rate for 15 years loyalty and a crap building society with overpaid directors.

    I`ve only got a fiver with them and that`s how it will stay until they pay a decent rate.
    • chris1
    • By chris1 16th Nov 12, 3:46 PM
    • 504 Posts
    • 174 Thanks
    chris1
    Hello
    Just checked their website and Nationwide's loyalty saver for 15yrs. membership is 2.40. Can't see 2.60 anywhere?
    Originally posted by chun
    I think 2.6 is for Issue 1, the current issue is 2.4 for 15 years, issue 2.
    • AndyJ52
    • By AndyJ52 16th Nov 12, 3:47 PM
    • 65 Posts
    • 19 Thanks
    AndyJ52
    Savings Rates!!
    What on earth is going on with savings rates at the moment?
    I've been somewhat out of the arena for much of this year looking after an ailing father. Now, most of my 'high interest', instant access accounts are coming to the end of their bonus period and the rates are dropping through the floor. No change there then! However, the rates on new accounts currently on offer are so incredibly low they're hardly attractive are they?
    I'm sure that none of this is news to any of you stalwart savings types.... but what are you guys doing with your cash savings at the moment. Are there ANY decent accounts out there, or is 2.5% to barely 3% (with strings) all that's available these days?
    Any pointers, if you have them, as to where to stash the cash would be much appreciated - or are you all deeply pi**ed off too!

    Thanks in advance AndyJ
    • gadgetmind
    • By gadgetmind 16th Nov 12, 4:16 PM
    • 10,080 Posts
    • 7,775 Thanks
    gadgetmind
    what are you guys doing with your cash savings at the moment.
    Originally posted by AndyJ52
    For the most part, I'm reducing my cash allocation. What I do hold is in a combination of a one year account at 3.6%, instant access at 3.1% (for now!), some modest cash ISAs at 4% (for now!) and NS&I Index Linked bonds.

    As for pointers, it's a case of looking out for deals as they come along or consider equities and bonds. However, even these are a bit skinny on the yield right now unless you move up the risk spectrum.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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