A&L Regular Saver

rangers_fc

OK people my RS is about to mature does this account roll on or is it 1 year only? If it is only 1yr I am tempted to take my custom elsewhere in the short term, if I still hold my ISA with A&L after closing my premier account will this negate me from gaining superior rates a second time in the case of closing accounts and coming back 3mths down the line??
Thanks for any advice

Milarky

To your first point: A&L terms and conditions (page 23)

2.2 The Account is for a fixed term of 12 months from the date of the first payment due into your Account. At the end of that fixed term, the balance and accumulated interest will be transferred to your Current Account and Your Account will be closed.

To you second point: It shouldn't. The only precluding condition on being able to open a RS is not to have an exisiting current account with A&L (and not to have held one for at least three months) I was able to qualify as 'new' just by closing my current a/c with A&L in May and then applying again in September. I did have non current accounts with them at the time but these were not a problem on the application.

Whilst that remains the case you could consider closing your A&L current a/c after maturity of the RS (which is closed anyway) and reapply for both accounts later. However I wouldn't rely on that always remaining the case (as conditions do get varied)