Regularly Beat the Best Savings Account Rates Discussion Area

RayWolfe

kev459
My post was not aimed at you but at a bit of spam which a moderator has removed.

kev459

I stand corrected, no offence given or taken.

intalex

With regards to the recommended setup of Icesave savings a/c and Yorkshire BS regular saver a/c in the article, do the quoted figures take into account any BACS delays? Or is it actually possible to set up a standing order from the Icesave into the Yorkshire, with no days' interest lost?

Dyson

In the article, it says that you should use your ISA Allowance first, but if a basic-rate taxpayer is getting 8% interest, tax on this would be 1.6%, leaving Net Interest of 6.4% which beats all but the very best ISAs.

This would only apply to a basic-rate taxpayer, who had no savings to begin with and was just starting to save regularly, but surely the regular saver would be better in this instance?

Regards,
Dave

McSaver

Dyson wrote: »

In the article, it says that you should use your ISA Allowance first, but if a basic-rate taxpayer is getting 8% interest, tax on this would be 1.6%, leaving Net Interest of 6.4% which beats all but the very best ISAs.

This would only apply to a basic-rate taxpayer, who had no savings to begin with and was just starting to save regularly, but surely the regular saver would be better in this instance?

Regards,
Dave

The ISA comes first because Interest is always paid TAX-FREE and over the years it will build up with adding the max contribution (currently 3,000 for 2007-08 going up to 3,600 for 2008-09) and therefore after 10 years you would have over 30,000 earning interest TAX-FREE as with a regular saver only lasts 1 year. with a regular saver saving £250 a month will mean you would have over £3,000 at the end of the 12 month term and that could be put in a ISA every year.

max2002ad

What does everybody think is the best account to use as a drip fund other than ice bank as i don't want to be restricted by their t&c's ?

sparky001_2

Can anyone help me please, i have £3000 i want to save as well as £300 a month to add to it, i need instant access to it, what is the best account at the moment?

Joscar

I am just about to fill in the application form for the Yorkshire BS Reg saver but before I do I wanted to see if there was any feed back on this account regarding their admin. I do not live near any branches so intend to open by post and after just going through the long delay of opening a Barclays Tax beater ISA last month I am wondering how good Yorkshire BS are.

I'd appreciate your feedback

Kazza242

Joscar wrote: »

I am just about to fill in the application form for the Yorkshire BS Reg saver but before I do I wanted to see if there was any feed back on this account regarding their admin. I do not live near any branches so intend to open by post and after just going through the long delay of opening a Barclays Tax beater ISA last month I am wondering how good Yorkshire BS are.

I'd appreciate your feedback

I first started having dealings with Yorkshire BS last summer. They have always been really efficient and helpful whenever I've dealt with them. They are one of the better building society's for customer service and efficiency. What I would recommend though, is sending your application form by recorded delivery to ensure that it gets to them.

Joscar

Thanks Kazza

Good idea about recorded delivery