Principality Regular Saver ISA 3%

DietIrnBru

Thought it was worth a mention, I've not got the cash for the lump sum investment so it's quite a good rate for my regular monthly savings.

bigoll

3% would be a good rate, but the effective rate you'll actually get if you pay in the maximum £480 a month is 1.6% based on the interest returned on £5760 over 12 months. If you could make a lump sum investment of, say, a couple of grand rather than the full allowance, followed by regular monthly payments, you'd probably be better off with the 2.6% normal ISA that Coventry BS is offering.

realaledrinker

bigoll wrote: »

3% would be a good rate, but the effective rate you'll actually get if you pay in the maximum £480 a month is 1.6% based on the interest returned on £5760 over 12 months. .

Complete tosh as you are not depositing £5760 on day one!!!

The interest returned on these accounts, calculated on the average daily balance will indeed be 3% in Principality's case.

I use regular savers and deposit the maximum each month and an happy to confirm that the interest received is indeed at the rate advertised.

DietIrnBru

bigoll wrote: »

3% would be a good rate, but the effective rate you'll actually get if you pay in the maximum £480 a month is 1.6% based on the interest returned on £5760 over 12 months. If you could make a lump sum investment of, say, a couple of grand rather than the full allowance, followed by regular monthly payments, you'd probably be better off with the 2.6% normal ISA that Coventry BS is offering.

As I stated, I'm not in possession of a lump sum of £5760. I'm well aware of the maths.

saintalan

bigoll wrote: »

3% would be a good rate, but the effective rate you'll actually get if you pay in the maximum £480 a month is 1.6% based on the interest returned on £5760 over 12 months. If you could make a lump sum investment of, say, a couple of grand rather than the full allowance, followed by regular monthly payments, you'd probably be better off with the 2.6% normal ISA that Coventry BS is offering.

We have spent years getting people to use the APR now we are going back:wall:

Yes, it may not be the best route for those that have the money now but on the other hand it still can be for those that want to drip feed it from another savings/interest paying account.

Happy 6 April everyone!

bigoll

Realaledrinker - suggest you check yourself, my friend. The account details themselves say you would get 90-odd quid after a year based on putting the maximum monthly amount in over that period. That works out to 1.6%. So it doesn't matter if you dress it up with the 'average daily balance' the facts remain the same - you get 3% of nothing or 1.6% of something. I even said that the 1.6% is the return based on the amount put in over a year. So READ before spouting off.

DietIrnBru - I know you don't have the full 5760 lump sum, hence suggesting a smaller sum if you had it, which you hadn't made clear. What I said is very clear. And if you're well aware of the maths, why do you have no money?

Wonder why anyone bothers commenting on this forum as all you get are bitter people lashing out at any response. Sad really.

marathonic

bigoll wrote: »

Realaledrinker - suggest you check yourself, my friend. The account details themselves say you would get 90-odd quid after a year based on putting the maximum monthly amount in over that period. That works out to 1.6%. So it doesn't matter if you dress it up with the 'average daily balance' the facts remain the same - you get 3% of nothing or 1.6% of something. I even said that the 1.6% is the return based on the amount put in over a year. So READ before spouting off.

DietIrnBru - I know you don't have the full 5760 lump sum, hence suggesting a smaller sum if you had it, which you hadn't made clear. What I said is very clear. And if you're well aware of the maths, why do you have no money?

Wonder why anyone bothers commenting on this forum as all you get are bitter people lashing out at any response. Sad really.

You can spout off all you want but Realaledrinker is correct. Do you really expect to get 3% paid for money you haven't yet lodged to the account and are likely to have sitting somewhere else earning interest?

rb10

bigoll wrote: »

Wonder why anyone bothers commenting on this forum as all you get are bitter people lashing out at any response. Sad really.

I don't think anyone is 'lashing out'. They are just correcting the claim in post #2.

The 3% Principality ISA is a pretty good option - although if you live near a Nottingham BS branch note that they have a branch-based ISA at 4%.

DietIrnBru

bigoll wrote: »

. And if you're well aware of the maths, why do you have no money?

A very cheap shot.