First Direct Regular Saver

Carpi09

The regular saver with FD, does this continue at 8% after the 12 months is up? Or is it for 12 months only?

Thanks

opinions4u

12 months only.

Then you decide where to put your lump sum.

And open a new regular saver!

Academic

The FD regular saver is for 12 months, after which the account is closed and money transferred to a FD Everyday E-saver account. You can (currently) immediately open another regular saver account and carry on 'as normal'.

Edit: opinions4U can type faster than me.........

Carpi09

opinions4u wrote: »

12 months only.

Then you decide where to put your lump sum.

And open a new regular saver!

Academic wrote: »

The FD regular saver is for 12 months, after which the account is closed and money transferred to a FD Everyday E-saver account. You can (currently) immediately open another regular saver account and carry on 'as normal'.

Just to confirm, after the 12 months is up, I can just open a new regular saver with them and it will still be 8%.

Thinking about moving from Halifax to FD. Took me 15 minutes to downgrade from a Ultimate Reward Account to the standard one over the phone. Plus the 8% is appealing should i be able to use that yearly.

cwal

Yup, once your first regular saver has expired you can open another one - whether it will still 8% in a years time who knows!!
I moved to them in Dec and although it's early days all has been good so far and I like being able to speak to someone straight away when I phone rather than press numbers on a keypad! I think you can get £125 for switching to them at the moment (not sure what the terms are for this) and obvioulsy the money isn't a reason to switch but a nice little bonus!

Academic

Carpi09 wrote: »

Just to confirm, after the 12 months is up, I can just open a new regular saver with them and it will still be 8%.

Yes, as long as they keep the rate at 8% (no guarantee).

Carpi09

Thank you peeps for a prompt reply.

innovate

In case you didn't see it - somebody claims there will be "an update" to the FD Reg Saver rates "in February".

https://forums.moneysavingexpert.com/discussion/4393803

Carpi09

innovate wrote: »

In case you didn't see it - somebody claims there will be "an update" to the FD Reg Saver rates "in February".

https://forums.moneysavingexpert.com/discussion/4393803

Thank you, I have heard no such thing. Done a quick search online and nothing appears to show. Atleast something normally appears with rumours like this.

innovate

It's perfectly reasonable to expect that FD won't keep the 8% all that much longer. I am surprised they haven't slashed it already. But you are right, there is nothing official about it yet.