12.5% Barclays Regular Saver

KTF

Judi wrote:

...... hmmmmmm i am tempted! I wonder what they would class as a 'salary'?

It says you have to pay in a min of 1k plus any salary or pension.

masonic

gil13 wrote:

It is tempting, but you do wonder with these regular saver jobies if it is really worth it for a few extra quid. if you compared it to say a top paying ISA at 5.55% so earn about £165 in interest per year - basically the same as the Barclays Regular saver (the marketing intention probably) but then you do no get the benefit of the rollover and compunding which you get in an ISA.

You've not considered the £60 or so net interest you can also earn on the money before it goes into the regular saver. You are really looking at earning ~£220 (net) on the balance using the regular saver and a high interest savings account together. Of course, the money can be dumped into an ISA after 12 months, thus making the best of both worlds.

gil13

AFAIK, you have to fund via a barclays current account (£1000 pm) which pays about 0.01% interest. Of course, nothing to stop you funding the CAC via a higher paying interest a/c. I was just looking a the simple sum.

BSingh

So just to clarify.... has anyone seen any terms or conditions that say you cannot close your Barclays regular saver and then open this one at 12.5%?

gil13

Also to note, you can only make X1 payment into it each month via the set-up standing order, you cannot make additional payments. So rather restrictive but o.k if you are a current a/c customer and are happy to put a regular amount away for a year. But a bit silly in that you could for ever be ammending the standing order mandate, but if online suppose it's not too difficult.

oldfella

minor warning - I took out the earlier one, only to find that the period starts from your phone call, not the first deposit. So if you call now and want the payment to begin at the start of Feb, you will loose most of the interest payment for the last month. I got quite cross.

Mike

Kazza242

Secret_Wookie wrote:

Just spotted this, new customers only, offer on for the next 2 months.

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=9234&target=_blank

According to the information on the Barclays website: the account is open to new and existing Barclays customers, but not to existing Barclays 10% regular savings account holders.

Mine matures on the 16th February (2007) and I was planning to open up another one a week after my account matures anyway. The T&C's of the new rate suggest that I will be permitted to do so then, as I will no longer be a Barclays regular savings account customer.

I suspect that Barclays have (temporarily) increased their regular saver rate, because of A&L's announcement last week, that they would be withdrawing their 12% regular saver on the 7th February 2007.

Afahmaep

Kazza242 wrote:

According to the information on the Barclays website: the account is open to new and existing Barclays customers, but not to existing Barclays 10% regular savings account holders.

Mine matures on the 16th February (2007) and I was planning to open up another one a week after my account matures anyway. The T&C's of the new rate suggest that I will be permitted to do so then, as I will no longer be a Barclays regular savings account customer.

I suspect that Barclays have (temporarily) increased their regular saver rate, because of A&L's announcement last week, that they would be withdrawing their 12% regular saver on the 7th February 2007.

Swings and Roundabouts. You can't be on BOTH at the SAME TIME.

Innys

Kazza, you mention that your saver closes on the 17th of February. Is that the date of the last payment or the 30 days after the date of the last payment?

I thought regular savers could not be closed until 30 days after the date of last payment. If this is so, did you really open your account on 18th January 2006? I'm only asking because I thought I was prompt in opening my account and the last deposit is not scheduled to go in until 2nd February which means I can't close it until March.

kanchhelskis

i thought that aswell kazza fair play to barclays though.