Nationwide pays savers 6.25%

Kazza242

free4440273 wrote:

if i open a joint account (both of us are standard tax payers, both working full time) would this be beneficial in terms of the tax paid? what i mean is, would only one of us have to pay tax? thanks all

If you and your OH both pay the same rate of tax and it is at the basic rate (20%), then you will pay only 20% tax on the interest accrued from your savings account.

If one of you, for example, was paying higher tax and the other was paying basic rate, then 50% of your interest would be taxed at one rate and the other 50% would be taxed at the other.

In your case, there is no advantage or disadvantage in opening the regular saver in joint names. The regular saver is restricted to one per customer (either joint or sole).

free4440273

thanks as always kazza242, will just open the account for myself and distribute £250 per month into the account. strange, i was waiting for nationwide to open up a high interest account. i have often deferred opening up more competitive accounts with the competition because i have most of my savings with nationwide (a bond, flexaccount etc.). anyway, glad they have done this even though it is not the most competitive, granted. thanks again and have a really nice weekend

bootman

Quick question. I opened online and today have had a cash card come through and nothing else. No letter or booklet of terms.

Should I need to transfer money out at some point can I send it to any other account other than a Nationwide one. Can I not send it back to the feeder account which will be a lloyds?

RayWolfe

They will have sent things out separately to avoid documents being intercepted and used by someone else.

Burnley_Lad

I put £250 into my account today - am I able to put another £250 in on February 1st?

david78

I have just opened this account today. Can't have enough regular savers.

Burnley_lad: Yes. Its a new month on 1st Feb, so you can make your February payment then.

KTF

OK, mine is showing up on online banking now but it has removed my mortgage from the accounts list

Burnley_Lad

KTF wrote:

OK, mine is showing up on online banking now but it has removed my mortgage from the accounts list

mines fine?

Prudent

Is anyone able to give me a link to the ybs regular saver?

Thanks

Kazza242

Prudent wrote:

Is anyone able to give me a link to the ybs regular saver?

Thanks

HERE is the link to the YBS regular saver information. YBS have increased their regular saver rate to 7.00% from today (Sun 28th Jan). If you open it by Wednesday, then you can make another payment into it from this Thursday.