alliance liecster a hsbc regular savers.

kanchhelskis

hi ya on this two regular saver accounts you just need to open a current account with them and pay in a lump sum each month, you dont need to pay in your salary. am i right? thanks in advance.

Phoenix79_2

T&C for the HSBC one:

Key features and benefits
Competitive interest rate of 8% gross/AER variable on the first £250 saved each calendar month for 12 months. On additional savings between £250 – £1,000 per month earn interest of 4.25% gross/AER variable.
Save between £25 to £1000 each month by standing order from your HSBC bank current account.
No partial withdrawals allowed.
Manage your account online, at your branch or by the phone.
Available only to customers who have their monthly salary or retirement income paid to an HSBC Bank current account.

Not sure how strict they are on it....

Dan29

You're correct with A&L although you meet the minimum funding requirement of £500 per month to avoid paying fees on the current account. This can come from anywhere except another A&L account, so it doesn't have to be your salary.

kanchhelskis

ok thanks for that can u continue after the first year or not?like get the 12% for a second year.

Hanxx

A&L is for one year only. You might be able to open another one once the first one has ended (after a year) though. At present I think the Lloyds Reg Saver is the only decent one that runs for 2 years.

kanchhelskis

so after the first year if they do not offer one in the second year quit the current account with them, on the intrest from the regular saver would i be able to get it paid into my nationwide current account? thanks in advance.

tom188

interest is paid at the end of the term when the entire balance is transferred into your AL premier account (the 1.5% one). You can move the money from there.

I very much doubt AL will offer a second year offer, as all offers upto now have been new customers only.

kanchhelskis

does anybody know how much intrest i could make on the regular saver from alliance a leicster i would be payin in the max every month. thanks in advance.

Kazza242

kanchhelskis wrote:

does anybody know how much intrest i could make on the regular saver from alliance a leicster i would be payin in the max every month. thanks in advance.

A non-taxpayer would receive (approx.) £195 interest, basic rate taxpayer £156 and a higher rate taxpayer £117.

metrobus

162.49 gross

metrobus

250 / 10 = 25

25/12 = 2.0833 multiplyed by 78 = 162.49

per £250 you get £2.0833 per month