regular savings with barclays (1 year)

cagneyfan

Hi all,

I've been saving £250 every month for a year with barclays regular savers account. I think it was at 6% (haven't got the bumf with me)

I've earned approx £93 - is that right? I know it's not 6% for the full £3000 over 12 months, as the money accumulated over the 12 month period. But does that sound right - £93! Maths was never a strong point

opinions4u

It sounds within range for a non-taxpayer.

Try the MSE calculator and it comes out at £96.63

fullstop

If your Regular Saver has now finished you the rate should have been given was 7.75%. According to the calculator if you had paid in £250 every month the interest should be £99.82 if your a basic rate tax payer or £124.50 if you do not pay tax.

withnell

fullstop wrote: »

If your Regular Saver has now finished you the rate should have been given was 7.75%. According to the calculator if you had paid in £250 every month the interest should be £99.82 if your a basic rate tax payer or £124.50 if you do not pay tax.

Reduced a little if the second payment was more than a month after the first, eg first on 2nd, second on the 16th etc

catsclaws

Has anyone else had problems getting their money out of the Barclays regular savings account after the 1 year term? My son had a letter saying that the year was up and it was now an instant access account. He went into the branch , and was told it would have to go to head office for the repayment because of security. That was on 23 August, and he is still waiting for the cheque so he can pay off a student loan.

iblametheparents

catsclaws wrote: »

Has anyone else had problems getting their money out of the Barclays regular savings account after the 1 year term? My son had a letter saying that the year was up and it was now an instant access account. He went into the branch , and was told it would have to go to head office for the repayment because of security. That was on 23 August, and he is still waiting for the cheque so he can pay off a student loan.

He should have just been able to withdraw all the money and close the account in the branch!

If he has a Telephone Banking Passcode he can ring up Telephone Banking and ask them to transfer the money to another account of his with another bank. If he doesn't then ring up and request one.