Regular Savers - if you were me...

bristolleedsfan

rainyday4 wrote: »

Thanks Bristolleedsfan. Your advice makes a lot of sense. However I'm not sure I understand the last bit of your post:

btw at start of march 2007 u could have fixed for 12 months all or most of your RS savings with principality @6.20% gross without losing any interest that results from changing providers

I'd be grateful if you could explain. Cheers![/QUOTE]

at start of march 2007 ( around st davids day ) principality offered a 1 year fixed bond paying 6.20 gross, if u havent made a withdrawal on your RS u could have transferred as much as u wanted into it, transfers within a provider involve no transit so u not losing the no of days interest that are lost when u move money out and into another provider as explained in prev post. its possible principality only offered the 1 year fixed bond to members of 2 years standing thinking about it now i certainly had a mail out think it said first to know about it as a member of 2 years standing so may have been available to everyone, wasnt available for long no great loss as only 1 base rate increase difference to the RS account

ED

Extra idea for you, rainyday4. Have you thought of also opening Principality Bdg Society's 6.50% Fixed Rate Regular Saver Bond - Issue 4, allowing up to £500 per month to be deposited via Standing Order from an external source. (Sadly internal transfers currently take up to 5 working days, so no advantage using e-SAVER for this.) If you happen to have a Barclays bank account, BACS (ie manual Standing Orders) arrive same-day, after the initial deposit by that method which takes 1 working day to 'test the system'.

rainyday4

id be minded to move 6000 out of principality RS into principality esaver and drip feed 500 per month into yorkshire RS ( 7% gross variable)

Thanks for your advice Bristolleedsfan. Did I notice that you have opened up another thread about transfering money from a Principality esaver to YBS monthly saver? I called Principality about that this morning and was told that I could only transfer money to and from my nominated current account and not another BS account. I'll be interested to see if you or anyone else succeeds with this.

Also thanks to ED. Hadn't seen the Fixed rate regular saver thingy. I don't have a Barclay's bank account. I assume transfering from a Halifax current account will also take up to 5 working days?

wolvesinwales

Suzey wrote: »

Hi all

I currently have the following monthly savers, paying in these amounts:

Halifax - £250/month
Lloyds (two-year) - £250/month
A&L - £250/month
YBS - £500/month

All of this money is saved from my monthly salary (ie is new money and not held in a high-interest account while waiting to be drip-fed in).

I've got current accounts with Halifax (main one, not really interested in switching), A&L (prerequisite for RS) and Lloyds (ditto).

I also have approx £26k in an Icesave account and can probably save another £500/month from my salary, although may need access to the cash if I save that much.

thoughts?

Suze

Will you marry me

gelato_cat

Do you look like the specimen in my avatar?

Suze

wolvesinwales wrote: »

Will you marry me

wolvesinwales

Suzey wrote: »

Do you look like the specimen in my avatar?

Suze

Not entirely :cool:

gelato_cat

Oh well. Do you think my savings will be enough for some plastic surgery, so you can? :eek:

Suze

wolvesinwales wrote: »

Not entirely :cool:

ED

rainyday4 wrote, "I assume transfering from a Halifax current account will also take up to 5 working days?"Someone will correct me if I'm wrong, but my past experience is that Standing Orders (or BACS done by you, piecemeal, on-the-day) that leave Halifax bank on a Monday arrive as cleared funds in, say, Principality's bond on the Thursday (ie 1 banking day longer than via most banks). However, I haven't tried this for half a year. Anyone...?