yorkshire 6.5% regular saver

monki_man

Went to a branch today, got my book with all the details, however they didnt take down any bank details. I guess you make your own deposits into the reg saver.

So can you deposit anytime of the money and any amount? as long as its between £10-£500?

RayWolfe

Turn to page two of the conditions, find the para that is headed "How Much Can I Save", and read on ...

lipidicman

Just confirming something.

Can you pay in a £10 SO and then add a cheque each month for £490?

I have so many RegSavers I forget the subtle differences and my terms are not to hand right now. Cheers

Ian_W

lipidicman wrote:

Just confirming something.

Can you pay in a £10 SO and then add a cheque each month for £490?

I have so many RegSavers I forget the subtle differences and my terms are not to hand right now. Cheers

Yep. You can pay in as many times as you like just so long as it doesn't exceed £500pm.

anniecave

I've just been told that transfers between an internet saver and a regular saver are processed the same day! (not leave one day and credit the other account the day after). The person I spoke to checked with two different people and was told this.
I'd been told that if I requested on the last day of a month to move between the two it would credit the regular saver the next month. But I just managed to get to view the regular saver online and the payment is showing the day that I requested the transfer!
The person I spoke to said that they are going to request for me to receive the bonus rate provided I carry on paying in each month, even though their systems are showing two payments in one month and none for the next month. The person I spoke to said there was a processing date and a clearing date (they are a day different) and apparently they use the processing date rather than the clearing date for interest purposes.

If anyone else can clarify this, it would probably useful for others.

I am just going to make sure I request transfers on the first day of the month in future!

Speculator

monki_man wrote:

Is the best way to take advanatge is put in £500/month for three years and three months? then say take out £6k and carry on depositing £500 in a month and repeat the process in the year 4 and three months?

That's of course if you got enough money and not really bothered about withdrawing it all. Also can someone tell me what interest rates i should expect from the following...

end of year 1 £6k
end of year 2 £12k
end of year 3 £18k
Then in month three take out £6k but continue to invest £500/month
end of year four £17000

I am going to save up to £19870, then reduce my monthly payments to £10pm and withdraw £120 as soon as the balance hits £19990 so the Total balance will not hit £20K. (Providing the YBS Regular Saver remains competitive)

(update: sorry, didn't see Ians post above #23, great minds think alike:))

pbw

fair enough about having 19870, then adding £10 a month and getting it upto £19990.

but, what about the intrest that will be added? will the interest not take you over the £20,000??

Speculator

Good point. I don't have a copy of the terms and conditions but I am sure it's possible to request the interest be paid into a another account such as the YBS Internet Saver.