Regular savings of large sums

zzzLazyDaisy

Anyone know of a regular saver account that lets you leave the money to mount up year on year instead of sweeping it out?

I'm with yorkshire BS which lets you save £500 per month until you hit £20,000

The interest rate is 6.35%, which isn't as good as some regular savers, but at the same time, I didn't have to be on the ball ready to shift the money out of some dire rate savings account when the first year was up.

Speculator

zzzLazyDaisy wrote: »

Anyone know of a regular saver account that lets you leave the money to mount up year on year instead of sweeping it out?

I'm with yorkshire BS which lets you save £500 per month until you hit £20,000

The interest rate is 6.35%, which isn't as good as some regular savers, but at the same time, I didn't have to be on the ball ready to shift the money out of some dire rate savings account when the first year was up.

The next best is ....http://www.scarboroughbs.co.uk/savingsandinvestments/products/my_savings.html#terms

Rate is only 6% and max £18K

nicko33

Halifax International (Isle of Man) Regular Saver is still available.
You probably won't be able to meet the 24-Oct deadline to get the 10% rate,
but it looks like they are offering 8% for accounts where first payment is received on 25th Oct or later.

£100-£2000 per month

http://www.halifax-international.com/savings/regular-saver.asp

butterfly72

nicko33 wrote: »

Halifax International (Isle of Man) Regular Saver is still available.
You probably won't be able to meet the 24-Oct deadline to get the 10% rate,
but it looks like they are offering 8% for accounts where first payment is received on 25th Oct or later.

£100-£2000 per month

http://www.halifax-international.com/savings/regular-saver.asp

I can't see where it says about the 10% rate?! Its just 8%.

Also, is this a 50k protected account?

thanks!

Edit.. just found this on this site:
Offshore accounts may not be covered.
Any savings held offshore, i.e., particular types of savings account not any money held in a non UK bank, are usually regulated by the local financial authority, rather than the FSA. As the FSCS protection only applies to companies regulated with the FSA, if your savings are held offshore check with your lender where it is regulated. For example, the FSCS does not cover savings outside the EEA, or even in the Channel Islands or Isle of Man.

nicko33

The bit about 10% is on this screen
http://www.halifax-international.com/Savings/offshore-product-selector.asp

The Isle of Man compensation scheme recently changed to be a 100% of the first £50,000.
http://www.halifax-international.com/home/depositors-compensation-scheme.asp

And Bank of Scotland (UK) guarantees the liabilities of Halifax International
http://www.halifax-international.com/download/legal-regulatory.pdf

so it should be as safe as HBOS (UK) (or possibly Lloyds TSB-HBOS)