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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,099Posts
    • 3,838Thanks
    Special_Saver2
    Regular Savings Accounts: The Best Currently Available List!
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Savings Accounts: The Best Currently Available List! 27th Nov 07 at 10:33 PM
    **THIS THREAD HAS NOW BEEN MOVED TO HERE!!**
    http://forums.moneysavingexpert.com/showthread.php?t=5776240

    I welcome you to join our discussion there.

    SS2
    Last edited by Westie983; Today at 11:44 AM.
Page 340
    • hgt
    • By hgt 1st Dec 17, 4:54 PM
    • 210 Posts
    • 145 Thanks
    hgt
    Newcastle BS - Big Home Saver
    Hi all, I suspect very few people still hold one of the Newcastle BS Big Home Saver accounts.

    As far as I was concerned all issues (1, 2 & 3) even the ISA versions were paying 1.25% interest (0.25 base plus 1% interest).

    So I was quite pleased to see a banner on the Newcastle BS website saying that all variable rate accounts would receive a 0.25% rate increase on 01/12. However on checking the published interest rates it appears it has actually dropped on these accounts and now appears to be 0.25% base plus only a 0.8% bonus (1.05% total) which is indeed pants.

    Has anyone else spotted this or indeed received anything to notify of the rate cut? I've had nothing, and as far as I'm aware it's in the NBS Ts&Cs that they have to advise you of any detrimental rate cut.
    • schiff
    • By schiff 1st Dec 17, 5:39 PM
    • 17,839 Posts
    • 9,187 Thanks
    schiff
    I don't have any accounts with Halifax but in setting off to open the 2.5% regular saver, I see this:

    "It’ll be quicker applying for this account if you’re already an Online Banking customer. Sign in and save yourself some time.

    Also, we might be able to offer you a better interest rate on this account. See if you’re eligible by signing in."

    That won't help me but is it in fact true?
    • glider3560
    • By glider3560 1st Dec 17, 5:42 PM
    • 3,445 Posts
    • 2,159 Thanks
    glider3560
    I don't have any accounts with Halifax but in setting off to open the 2.5% regular saver, I see this:

    "It’ll be quicker applying for this account if you’re already an Online Banking customer. Sign in and save yourself some time.

    Also, we might be able to offer you a better interest rate on this account. See if you’re eligible by signing in."

    That won't help me but is it in fact true?
    Originally posted by schiff
    Quicker, yes. Higher rate, no.

    I guess this goes back to the days when they offered "Reward" accounts for those with "Reward" Current Accounts.

    • Big W
    • By Big W 1st Dec 17, 7:34 PM
    • 116 Posts
    • 60 Thanks
    Big W
    Hi all, I suspect very few people still hold one of the Newcastle BS Big Home Saver accounts.

    As far as I was concerned all issues (1, 2 & 3) even the ISA versions were paying 1.25% interest (0.25 base plus 1% interest).

    So I was quite pleased to see a banner on the Newcastle BS website saying that all variable rate accounts would receive a 0.25% rate increase on 01/12. However on checking the published interest rates it appears it has actually dropped on these accounts and now appears to be 0.25% base plus only a 0.8% bonus (1.05% total) which is indeed pants.

    Has anyone else spotted this or indeed received anything to notify of the rate cut? I've had nothing, and as far as I'm aware it's in the NBS Ts&Cs that they have to advise you of any detrimental rate cut.
    Originally posted by hgt
    I cannot recall how I was notified, but I do have this account on my spreadsheet as being at 1.05%, with the last rate change being on the 2nd February (this year).
    • glider3560
    • By glider3560 1st Dec 17, 7:50 PM
    • 3,445 Posts
    • 2,159 Thanks
    glider3560
    Has anyone closed their Club Lloyds Current Account whilst still holding a Club Lloyds Monthly Saver? I'm trying to declutter and reduce the number of payments going here and there, in advance of April.

    The conditions seem to only stipulate needing the current account on opening, but it appears you can only transfer the money to other Lloyds accounts. Is there any other way to access the money?

    • Hal17
    • By Hal17 1st Dec 17, 9:21 PM
    • 98 Posts
    • 40 Thanks
    Hal17
    Goods news, just opened two Halifax regular savers for myself and the wife, and found the details appeared in our on-line BOS Banking screen. Then realised we could open two BOS regular savers as well. So that's another 4 to the list.
    • neverbrokensarah
    • By neverbrokensarah 1st Dec 17, 9:36 PM
    • 24 Posts
    • 7 Thanks
    neverbrokensarah
    Hi Everybody,

    Many thanks to all the people who placed useful posts on this thread. Here is this weekend's update.

    - Bank of Scotland Vantage account entry updated to make the current interest rate clear
    - Chorley BS Festive Fund account withdrawn and removed from post 3
    - Link at the bottom of this post altered so that I can copy and paste the link to the first page easily and correctly every time I do an update

    I will do another update next weekend.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are here
    Originally posted by Special_Saver2
    The Bank of Scotland Regular Saver is now being advertised as 2.5%. I opened one on 6th November at 2%. It looks like you can't close and re-open one until the full year is up from opening.
    • schiff
    • By schiff 1st Dec 17, 9:48 PM
    • 17,839 Posts
    • 9,187 Thanks
    schiff
    The Bank of Scotland Regular Saver is now being advertised as 2.5%. I opened one on 6th November at 2%. It looks like you can't close and re-open one until the full year is up from opening.
    Originally posted by neverbrokensarah
    I think it's appalling on the part of BoS that they have been showing their old 2% RS on their website, right up until yesterday. They could at least have either removed the RS till today or pointed out the better rate.

    I feel for you.
    • neverbrokensarah
    • By neverbrokensarah 2nd Dec 17, 7:38 AM
    • 24 Posts
    • 7 Thanks
    neverbrokensarah
    I think it's appalling on the part of BoS that they have been showing their old 2% RS on their website, right up until yesterday. They could at least have either removed the RS till today or pointed out the better rate.

    I feel for you.
    Originally posted by schiff
    I only opened their current account at the end of October with money in at beginning of November. At least the interest rate is more than my mortgage and it's only 0.5 difference. Also just to rub it in it gives an option to "renew" your account to take advantage of a new product via the internet banking, with only the Access Saver at 0.35%. Yes I really want to do that!
    • Sea Shell
    • By Sea Shell 2nd Dec 17, 7:42 AM
    • 523 Posts
    • 516 Thanks
    Sea Shell
    To anyone looking to open a new 2.5% Halifax Reg Saver....be careful....the front page states the new rate, but when you then proceed to the Summary page, it's still showing as 2%. I've raised this as a query with them, and they hope to have it updated within a day or 2. Without ringing up, they couldn't guarantee that an application made today would get 2.5%.

    If anyone successful applies at 2.5% please let us know.
    Originally posted by Sea Shell
    All appears to be OK now....accounts duly opened!!!
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • Bobblehat
    • By Bobblehat 2nd Dec 17, 11:07 AM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    All appears to be OK now....accounts duly opened!!!
    Originally posted by Sea Shell
    You may think so ..... but at the risk of exposing my poor maths or misunderstanding of how these things work ..... I spotted that on the BOS Monthly Saver Tab (2.5%) it gives the following example of what you might expect the future balance to be ....

    £100 per month for 12 months @ 2.5%, balance at 12 months = £1215.00

    I did a quick spreadsheet and got the interest to be £16.25 ... not £15.

    What am I missing? ...... as I was hoping that the BOS RS would be equal to, if not a little better than, Tesco Saver (not RS) at 1.35% = £16.20
    • AirlieBird
    • By AirlieBird 2nd Dec 17, 11:49 AM
    • 835 Posts
    • 648 Thanks
    AirlieBird
    You may think so ..... but at the risk of exposing my poor maths or misunderstanding of how these things work ..... I spotted that on the BOS Monthly Saver Tab (2.5%) it gives the following example of what you might expect the future balance to be ....

    £100 per month for 12 months @ 2.5%, balance at 12 months = £1215.00

    I did a quick spreadsheet and got the interest to be £16.25 ... not £15.

    What am I missing? ...... as I was hoping that the BOS RS would be equal to, if not a little better than, Tesco Saver (not RS) at 1.35% = £16.20
    Originally posted by Bobblehat
    The example is based on deposits made in the middle of the month rather than at the beginning of the month. Depositing £100 on day 15 of each month would amount to about 10.3p lost interest each month, around £1.23 over the year, compared with depositing at the beginning of the month. Accounting for rounding errors that would be £15 interest instead of the £16.25 for depositing at the beginning of each month.
    • ColdIron
    • By ColdIron 2nd Dec 17, 11:53 AM
    • 3,897 Posts
    • 4,753 Thanks
    ColdIron
    I did a quick spreadsheet and got the interest to be £16.25 ... not £15.
    Originally posted by Bobblehat
    You could use the MSE Regular Savings Calculator (which gives £16.19 )
    • Bobblehat
    • By Bobblehat 2nd Dec 17, 12:16 PM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    Thanks Airliebird .....I see, I think! Are they saying if you open the account on 1st Jan, but not deposit anything until 15th of Jan (£100), you'd have £15 interest on the next 1st Jan?

    Just to make sure I have the hang of this ... If I open the account on 15th Jan and make the first deposit (£100) on 15th Jan, then after a year on the next 15th Jan I would get £16.25/£16.19?

    I do know about the MSE RSC ColdIron, but just wanted to play with the numbers myself
    Last edited by Bobblehat; 02-12-2017 at 12:17 PM. Reason: spelffing!
    • polymaff
    • By polymaff 2nd Dec 17, 2:31 PM
    • 1,897 Posts
    • 810 Thanks
    polymaff
    Thanks Airliebird .....I see, I think! Are they saying if you open the account on 1st Jan, but not deposit anything until 15th of Jan (£100), you'd have £15 interest on the next 1st Jan?
    Originally posted by Bobblehat
    Depends upon when you make the other payments.


    Just to make sure I have the hang of this ... If I open the account on 15th Jan and make the first deposit (£100) on 15th Jan, then after a year on the next 15th Jan I would get £16.25/£16.19?
    Originally posted by Bobblehat
    The guideline for a regular saver funded regularly from day one is that the interest actually earned is 13/24 times the advertised rate.

    13/24 times 0.025 times £1200 equals £16.25
    Last edited by polymaff; 02-12-2017 at 2:35 PM.
    • Bobblehat
    • By Bobblehat 2nd Dec 17, 5:17 PM
    • 106 Posts
    • 72 Thanks
    Bobblehat
    ffanks polymaff

    I was darn close with £16.25 then! I don't know why, but the BOS RS sounds just that bit better at £16.25 than at £15 ...... even £16.19 is not bad
    • Mee
    • By Mee 2nd Dec 17, 5:40 PM
    • 1,041 Posts
    • 1,012 Thanks
    Mee
    No, good to know
    Re: Lloyds CL c/a and MS
    Not yet as it is one I plan to keep as long as free cinema tickets are available.
    Good to know how others get on...
    Last edited by Mee; 02-12-2017 at 6:22 PM.
    • Special_Saver2
    • By Special_Saver2 3rd Dec 17, 9:27 PM
    • 1,099 Posts
    • 3,838 Thanks
    Special_Saver2
    Hi Everybody,

    Here is this weekend's update. I have checked every account on the first page of this thread and found the following changes.

    - Progressive BS Clockwork Regular Saver Issue 2 interest rate increased by 0.1% to 1.6%
    - Chorley BS Children's Regular Saver interest rate increased by 0.25% to 2.25%
    - Halifax Kids' Regular Saver interest rate increased by 0.5% to 4.5%
    - Halifax Regular Saver interest rate increased by 0.5% to 2.5%
    - Lloyds Bank Club Lloyds interest rate increased by 0.5% to 3%
    - Cumberland BS Regular Saver (issue 3) interest rate increased by 0.5% to 2.3%
    - Bank of Scotland Monthly Saver interest rate increased by 0.5% to 2.5%
    - Lloyds Bank Club Lloyds interest rate increased by 0.5% to 2.5%
    - Leeds BS Regular Saver (Issue 9) replaced with issue 10 paying 0.25% higher at 2.55%
    - Hanley Economic BS Home Deposit Saver interest rate increased by 0.1% to 2.95%
    - Cumberland BS Regular Saver (Issue 3) account interest rate increased by 0.25% to 2.3%

    I will do another update the weekend after next.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are here
    • mgarl10024
    • By mgarl10024 3rd Dec 17, 9:49 PM
    • 609 Posts
    • 424 Thanks
    mgarl10024
    - Lloyds Bank Club Lloyds interest rate increased by 0.5% to 3%
    - Lloyds Bank Club Lloyds interest rate increased by 0.5% to 2.5%
    Originally posted by Special_Saver2
    Great work Special_Saver2.

    I think the second one is supposed to not have the 'club' bit.

    Incidentally, if someone has the club monthly saver, can they at the same time have a monthly saver?
    • YorkshireBoy
    • By YorkshireBoy 3rd Dec 17, 10:02 PM
    • 29,912 Posts
    • 17,783 Thanks
    YorkshireBoy
    Incidentally, if someone has the club monthly saver, can they at the same time have a monthly saver?
    Originally posted by mgarl10024
    Yes they can.
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