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Best Regular Saver

Hi guys - bit confused between two regular savers - Martins guide says the best one is Lloyds @ 8% for two years. However the A&L one promises 12% for one year, but, unlike Barcleys, doesnt seem to have a catch to maintain the account there?

Could anyone help and advise me which is the best to choose?

Cheers

Comments

  • tom188
    tom188 Posts: 2,330 Forumite
    Yes it does - A premier current (the low rate paying one)

    Lloyds beats it because of the two year term and initial deposit possibility
  • steveh2001
    steveh2001 Posts: 1,270 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    How is the premier account bad though? Cant you just stick £1 in there and leave it? Or just forward the £250 into the premier account, and then onto the regular saver?

    Thanks for the advice
  • tom188
    tom188 Posts: 2,330 Forumite
    You have to pay in 500 a month or you get charged a £5 underfunding fee.
  • bootman
    bootman Posts: 1,985 Forumite
    I've been Money Tipped!
    Yes you have to pay £500 a month in A&L currant a/c. I do this, transfer £250 of it to the savings and the other £250 back to where it originated from
  • steveh2001
    steveh2001 Posts: 1,270 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Ahh cool thanks guys - So the best regular saver if you dont want the hassle of shifting funds back and forth would be the lloyds?
  • tom188
    tom188 Posts: 2,330 Forumite
    Yes in my opinion, although look at the Yorks BS Reg Saver as well, lower rate but it carries on year after year.
  • Kazza242
    Kazza242 Posts: 2,203 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    steveh2001 wrote:
    Ahh cool thanks guys - So the best regular saver if you dont want the hassle of shifting funds back and forth would be the lloyds?

    I would agree that the LTSB regular saver is the best one available right now. If you wish to apply for it I would recommend doing so in branch rather than over the phone or online. It will all be done there and then and they give you the opportunity to register for online banking while you are there too. I would apply soon though, as this regular saver will be withdrawn in early March.

    I also like the YBS regular saver for it's flexibility, competitive rate and the fact that it allows you to build up a £20K balance. The rate paid by YBS may also be increased to 7.00% following last week's BOE base rate rise.
    Please call me 'Kazza'.
  • I would apply soon though, as this regular saver will be withdrawn in early March.

    I was just wondering how you know this, as i was planning to open one in april when my current A&L one expires, but might need to rethink?
    Proud to have become an Ocean Rower in 2010 (crossed the Atlantic in a crew of 4 ladies and had the best 77 days of my life!)
  • Kazza242
    Kazza242 Posts: 2,203 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I was just wondering how you know this, as i was planning to open one in april when my current A&L one expires, but might need to rethink?

    The monthly saver withdrawal date info is on the LTSB website, here.

    It will be withdrawn on March 5th 2007.
    Please call me 'Kazza'.
  • steveh2001
    steveh2001 Posts: 1,270 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thanks everyone - I will look into applying for the Lloyds one ASAP
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