Regular Savings Accounts: The Best Currently Available List!

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  • glider3560
    glider3560 Posts: 4,115
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    eightfoot2 wrote: »

    Virgin Regular E-Saver Issue 7 online available
    2.25% Matures 20 Oct 2018
    Thanks Virgin
    Originally posted by ColdIron


    Many thanks for highlighting. I've now opened Issue 7.

    Issue 1 matures on 20 October this year. Then Issue 2 on 20 December.


    can I ask what people will be doing regarding savers that mature please,im thinking remove all but £10 pounds on maturaty then wait for the intrest to be paid in march 2018 then close the saver
    I have a feeling that there is a min amount that needs to be in the account or it will close and I believe it will change to a variable saver


    can I also ask how to get quotes in my replys thanks
    The Virgin accounts have no minimum to get the regular savings rate - you can close them immediately. I opted for monthly interest and made several withdrawals from my accounts (for purchasing a property) which haven't affected the rate being paid.
  • ColdIron
    ColdIron Posts: 8,893
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    edited 16 September 2017 at 9:36AM
    I'm going to close my accounts as soon as they mature, no point in the cash, no matter how small, doing nothing

    You can quote messages by pressing the Quote button of the message you want to quote. As a new user you might be using the horrible newish 'blue' MSE interface though I'd be surprised if it didn't allow you to quote. Use the option to go back to the old 'green' interface as it's better for many things. Logon and go to your User CP (Control Panel) in the menu bar at the top. At the bottom left you'll see 'Forum Version Manager' and Manage version, choose Old
  • EachPenny
    EachPenny Posts: 12,239
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    eightfoot2 wrote: »
    can I ask what people will be doing regarding savers that mature please,im thinking remove all but £10 pounds on maturaty then wait for the intrest to be paid in march 2018 then close the saver
    I have a feeling that there is a min amount that needs to be in the account or it will close and I believe it will change to a variable saver

    can I also ask how to get quotes in my replys thanks

    I don't have the older T&C's to confirm, but more recent ones say the account may be closed if it has a zero balance for 180 days, or less than £1 for 365 days.

    On maturity I would withdraw all but £1. Normally if you close an account before the date interest is applied then the interest is added and paid to you at the point of account closure. Virgin's T&C's don't appear to cover this issue specifically, so if you are concerned it might be worth contacting their customer services to be sure.

    To quote a post, click on the orange 'speech bubble' which should appear at the bottom of each quotable post. The blue speech bubble allows you to select other posts to quote before you finally click on the orange one.
    "In the future, everyone will be rich for 15 minutes"
  • Nottingham Reg Saver (first issue) reduces to 1.5% inc bonus, from 1st October. Ouch!
  • Sea_Shell
    Sea_Shell Posts: 9,272
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    RE: Virgin Reg Savers

    I've just re-read the T&C's and they don't appear to cover the "if YOU close your account" scenario.

    Surely if you close your account after maturity date, they have to pay you all the balance, plus all accrued interest to date, to your nominated linked account, regardless of the 11th March annual interest date.

    Is that right?

    We too have our first one maturing on 20th October....so interested to see what occurs.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.47% of current retirement "pot" (as at end February 2024)
  • I asked this question when I first opened up the account last Sept, and got the following answer. It's not exhaustive, but I think it covers what I was looking for. Sounded to me like it requires closure to get the remaining interest (or waiting until the next 11th March), but I'll probably reconfirm nearer the time.
    Good morning,
    Reading the account literature, I note that annual interest is paid on the 11th March.
    Is there another interest payment (for the period 11th March -> 20th October) when the account matures on the 20th October?
    Thanks,
    Thanks for getting in touch.
    I confirm interest is paid on 11th March. Once your account matures, interest will be paid upon closure/transfer.
  • Sea_Shell wrote: »
    RE: Virgin Reg Savers

    I've just re-read the T&C's and they don't appear to cover the "if YOU close your account" scenario.

    Surely if you close your account after maturity date, they have to pay you all the balance, plus all accrued interest to date, to your nominated linked account, regardless of the 11th March annual interest date.

    Is that right?

    We too have our first one maturing on 20th October....so interested to see what occurs.
    There is no bonus rate. It is a fixed rate, with interest calculated daily. There are no penalties for withdrawals.

    Seems very obvious to me that closing before interest will just result in the interest due being added.

    You can always opt for monthly interest on future issues, in case you are unsure.
  • glider3560 wrote: »
    There is no bonus rate. It is a fixed rate, with interest calculated daily. There are no penalties for withdrawals.

    Seems very obvious to me that closing before interest will just result in the interest due being added.

    You can always opt for monthly interest on future issues, in case you are unsure.


    re the monthly intrest I have opted for this on both issue 6 and 7 but when I look at the intrest paid/due section its showing as annually paid so not sure they pay it monthly
    in for a penny
  • eightfoot2 wrote: »
    re the monthly intrest I have opted for this on both issue 6 and 7 but when I look at the intrest paid/due section its showing as annually paid so not sure they pay it monthly
    Mine show as monthly and the interest gets credited on 10th of each month (shows the following day).

    I wanted to push more income to the previous tax year, hence the choice of monthly.
  • EachPenny wrote: »
    Yesterday I asked when the next issue is likely to come out and was told the current one was being withdrawn at close of business this Saturday (16/09/2017).

    Maybe someone got their Saturdays mixed up, or they decided to extend the availability?

    Now gone from their website.
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