How little interest? Yorkshire Bldg Soc Saver

YorkshireBoy

Suzkin wrote: »

it's interesting how the interest is simply calculated without the bank indicating what the interest rates were at particular times during the year.

If you have online access you can view the interest rate history in your YBS secure area.

RayWolfe

Mr_K wrote: »

Lots of people are disappointed when they realise how little regular savers actually pay

And a lot of people know exactly what they are doing and realise fully how much they pay. Are you suggesting that, for example, I'm wasting my time getting 10% pa for £500 a month with Halifax? Do you know of something better?

sloughflint

RayWolfe wrote: »

And a lot of people know exactly what they are doing and realise fully how much they pay. Are you suggesting that, for example, I'm wasting my time getting 10% pa for £500 a month with Halifax? Do you know of something better?

I see he's still seemingly failing to understand the mechanics. Having said that, whilst I haven't been looking at the rates recently, people are suggesting that the RS rates are not particularly attractive anymore and bonds are marginally better so he'll be right for a while ( for recycling money -not new money).

I'm still enjoying the 12% Halifax RS and A&L kindly let me turn a Premier that was needed to be eligible for their 12% RS into a 8.5% fixed Premier Direct.

Every little helps;).

RayWolfe

sloughflint wrote: »

Every little helps.

That's a good slogan ... I'd register it if I were you.

Doomcow

Suzkin wrote: »

My passbook for the Regular Saver was updated today. This started out at 7% variable for 1 year.

...

This is so little. They told me this afternoon that the interest rate is currently 4.25%

Can these low figures really be true??

have you read the news recently? lol

get yourself a reasonable ISA / instant access savings account and just fill it, and keep fillin it and when the rate goes significantly below the majority of other savings accounts, then transfer them elsewhere.

baby_boomer

Suzkin wrote: »

. They told me this afternoon that the interest rate is currently 4.25%

Can these low figures really be true??

You ain't seen nothing yet .

You should be celebrating.

Not moaning on MSE.

juicyjude

Yep at the minute that is a very good rate!!! I would stick with that

Milarky

It's 0.75% plus 3.5% bonus - so how safe does that make the bonus rate eh?

LongTermLurker

Mr_K wrote: »

Lots of people are disappointed when they realise how little regular savers actually pay. Personally I don't bother with them. People are dazzled by the seemingly high interest rates which are largely meaningless.

Maybe you've misread the thread? OP seems to have been paying in what she can each month from spare cash - with a minimum of £10 per month, yet flexible enough to allow her to pay in £50 ad-hoc, can you come up with an account that would have paid her more interest? No? Well I never :eek:

However, anyone who pays £500 spare cash into a 10% or 12% Halifax RS account for a year - or £250 into a 12% A&L RS account - must surely be laughing all the way to the bank.

More important is how much you can deposit and for how long, which of course they restrict.....

...and, of course, the rate of return :rolleyes:

To quote BLF, "500.00 maximum deposit a month with maximum term being maximum overall deposit of from memory 20000.00 was very generous terms in most opinions including mine"