Monmouthshire BS regular saver rate increased to 6.25%

Kazza242

According to Moneyfacts, Monmouthshire BS will increase their Saver Plus regular savings account rate by 0.25%, from 6.00% to 6.25% (w.e.f. 1st February 2007).

- You must deposit between £20 up to £1,000 per month.

- Like regular savings accounts from Scarborough, YBS and Bath BS, this account continues for longer than the usual 12 months, as the maximum account balance is £500,000.

- One penalty-free withdrawal is permitted each account year (ending 31st March).

- 12 monthly deposits must be made to earn the bonus rate of interest.

- All monthly deposits must be by direct debit only.

The Monmouthshire 6.25% rate as displayed on Moneyfacts, here

Monmouthshire BS Saver Plus account (Please note that Monmouthshire haven't updated their website to show the new rate yet).

Milarky

Kazza242 wrote:

- All monthly deposits must be by direct debit only.

...after the initial deposit that is. DD amounts can be varied if you request these..

Kazza242

Milarky wrote:

...after the initial deposit that is. DD amounts can be varied if you request these..

Yes, I know. As long as the monthly DD amount is between £20 - £1,000 Monmouthshire don't mind. The upper DD limit makes this a good regular saver for those wishing to get a lump sum in quickly.

ctdctd

I see this pays 3.25% PA with a 3% bonus payable on 31st March if a full year of deposits is made.
What happens if I open one now as only 2 payments possible before 31st March 2007? Do they pay a part bonus or a larger one in 14 months?

Thinking of using to get my rainy day savings in as quick as I can and drop deposit to £20 PM to continue getting the 6.25%.

Kazza242

ctdctd wrote:

What happens if I open one now as only 2 payments possible before 31st March 2007? Do they pay a part bonus or a larger one in 14 months?

You will earn the bonus rate when the interest is paid at the end of March, provided you have made all monthly deposits - starting from the month your account was opened.

E.g. Someone opening the account in February and making payments then and also in March will earn approx. two months' worth of interest at the bonus 6.25% rate when the interest is paid (31st Mar '07).

Following the interest payment, 12 monthly payments will be required to earn the bonus rate of interest that will be paid end of March '08.

Kazza242

Derbyshire BS' regular saver bond rate has increased from 5.75% to 6.00%. The regular saver lasts for 12 months and allows monthly payments between £100 to £1,000.

Derbyshire's standard regular saver rate has also increased from 5.25% to 5.50%. This regular saver is on-going and allows payments between £10 to £1,000 per month.

Newbury BS' regular saver rate has increased from 5.85% to 6.10%. This regular saver has a 3 year term and allows monthly payments between £10 to £250. This account is only open to a limited area of the UK.

cheggers

May be a good one to open for the carpetbaggers