Next best after 8% regular and full ISA?

amiehall

If you're talking about hassle etc with a regular saver then it probably isn't right for you. I wouldn't bother moving money around every month if I was dealing with a lump sum but as someone genuinely saving money from their salary each month, it suits me perfectly.

Ultrasonic

calypso_rhapsody wrote: »

I just did the sums comparing the best instant access account (Santander Esaver 5 paying 3.2%) with the Monmouthshire 4% regular saver and if you put the max of £1k a month into the Montmouthshire account you end up £38.40 better off net over a year ... is it worth the hassle for you?

I've opened a FD regular saver though as that works out about £70 for the year net better ... Haven't looked at HSBC but it will be about half way between ...

Interesting. (FWIW I just went through the calculations myself and get approximately the same numbers.)

As for the hassle aspect, the Monmouthshire Flexible Saver Issue 2 seems to only be a 'regular saver' in the sense that it has a maximum monthly deposit of £1000. From what I can tell from the Ts & Cs there isn't a limit to the number of deposits that can be made in a month, or as was pointed out above the requirement for there to actually be any deposit made at all. Provided the max. 4 withdrawels per year isn't an issue then this account wouldn't actually seem to be any more hassle than a Santander eSaver, and so for me I'd pocket the extra £40. (Well I would if I was fortunate enough to be able to save £1k a month!)

Edit: Of course if someone really was reliably paying in £1k every month they could just set up a standing order to do this, so once that is done there would basically be no hassle at all.