Regular Savings Accounts: The Best Currently Available List!

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  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    liamcov wrote: »
    How many years till we see the 9% accounts again I wonder...
    A long time I hope, because along with that 9% interest was inflation at 8%+.
    Eco Miser
    Saving money for well over half a century
  • patientperson
    patientperson Posts: 481 Forumite
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    Matures After 12 Months.

    Mansfield Reg Saver (4) rate reduced from 2.5% to 2.25% effective 19-09-2016.

    Best Feeder Accounts

    Current: Santander 123 Current Account. Costs £5 per month but pays 3% interest if you have a balance between £3,000 and £20,000


    Effective 01-11-2016
    Monthly interest of 1.50% AER / 1.49% gross (variable) payable on your entire balance up to £20,000 from 1 November 2016.
  • Speculator
    Speculator Posts: 2,225 Forumite
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    Eco_Miser wrote: »
    A long time I hope, because along with that 9% interest was inflation at 8%+.

    with the pound so weak, we'll probably end up with high inflation and very low interest rates.
  • adindas
    adindas Posts: 6,813 Forumite
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    edited 7 October 2016 at 2:11PM
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    I just notice the letter I received and also key product info of this account which seems to me quite unusual.

    "Annual interest is paid on March 11. Monthly interest is paid on the 10th day of the month.

    Maturity date:20 October 2017"

    How actually this one works for those who open this account say September this year and have asked to be paid the annual interest instead of monthly interest ???

    1. Do they get interest on March 11 ??
    2. What happen after the maturity date on 20 October 2017, it seems to me the interest from March - October (or the total interest if March has not been paid) will be automatically added on the maturity and you could close the account ?? If not does it mean you will need to keep your account until March the following year to get interest ??
  • tg99
    tg99 Posts: 1,199 Forumite
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    adindas wrote: »
    I just notice the letter I received and also key product info of this account which seems to me quite unusual.

    "Annual interest is paid on March 11. Monthly interest is paid on the 10th day of the month.

    Maturity date:20 October 2017"

    How actually this one works for those who open this account say September this year and have asked to be paid the annual interest instead of monthly interest ???

    1. Do they get interest on March 11 ??
    2. What happen after the maturity date on 20 October 2017, it seems to me the interest from March - October (or the total interest if March has not been paid) will be automatically added on the maturity and you could close the account ?? If not does it mean you will need to keep your account until March the following year to get interest ??

    You'll get interest from Sep to March on March 11 and interest from March to Oct on maturity on 20 Oct.
  • tg99
    tg99 Posts: 1,199 Forumite
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    Not sure if anyone has had same issue as me for the new Virgin reg saver but I opened it in Sep and made my initial £250 deposit and then set up £250 SO for the 1st of each month starting from Oct. Oct SO payment left my San into Virg reg saver but on same day got faster payment 'return' of the £250 back into San. Virgin say for some reason their system is saying that I could not make the first SO payment till 26 Oct (30 days after initial deposit) hence the rejection but confirmed that this is not in line with the T&C which do allow me to start SO payments from 1 Oct. Hence they are still looking into what has happened but in meantime have credited me £50 goodwill leaving me to make a manual £200 payment for Oct which worked.
  • schiff
    schiff Posts: 20,099 Forumite
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    I'd like that to happen to me :)
  • tg99
    tg99 Posts: 1,199 Forumite
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    schiff wrote: »
    I'd like that to happen to me :)

    I'm hoping it happens again with my Nov SO!
  • ToiletLicker
    ToiletLicker Posts: 24 Forumite
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    Hi folks with regards to the Virgin Regular E Saver. I opened the account on the 30/09/16 (in the evening) and deposited £250 (the same evening).
    I didn't set up a standing order as I thought I would do that on the 3/10/16 when I made my next payment.
    Anyhoo I went to make a payment on 3/10/16 but wasn't allowed to because the funds were dated on my statement 3/10/16 arrrrrggggghhh.
    I did call them up alas was told I was unable to make a payment for the October month. Is this right/normal?
    #009 :T
  • Kim_13
    Kim_13 Posts: 2,435 Forumite
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    Probably. Payments made after the cut off time on 30/9 would be dated 3/10 on their end (the next working day.)

    All you can do is ask what their cut off is (this differs with the institution) and ask them to allow the payment manually somehow if you were before the cut off.
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